Edinburgh festivals face funding crisis
Millions of pounds in grants and sponsorships could be lost as corporate benefactors pull out and subsidies are withdrawn
Severin Carrell, Scotland correspondent , guardian.co.uk, Sunday 15 August 2010

It is the explosive finale to the world's largest arts festival, an hour-long firework display launched from the ramparts of Edinburgh castle and synchronised to classical music played in the gardens below by a concert orchestra.

This year's fireworks display, which draws an estimated crowd of 250,000 on to Princes Street and the Mound for a largely free event, has additional significance. Its sponsor, the crisis-hit Bank of Scotland, is pulling out because its funding package has ended, leaving the festival with the task of finding a new backer for what is thought to be its most costly single event.

Faced with swingeing cuts in government spending, all the Edinburgh festivals, including the international festival, the book festival, the fringe and the Mela, are expecting a sharp fall in their subsidies, potentially losing millions of pounds in grants next year.


Full story at The Guardian.

And more from The Bookseller:


Edinburgh Book Festival expects to cut author events
16.08.10 |

Edinburgh International Book Festival is to trim its number of author events in the face of budget cuts. The annual event launched on Saturday (14th August). Nick Barley, the book festival director, said he expected cuts of at least 3.5% next year and expected to cut the number of events. But he added: "The festivals are economic powerhouses, not just for Edinburgh but Scotland and the UK as a whole. For relatively small investments, they generate huge returns."

According to the Guardian, the city's 15 festivals have all had unprecedented levels of public funding during the recession, although along with the fringe, the book festival is one of the most economic. It received £255,705 in core funding, but 80% of its income comes from ticket sales, book sales and sponsors.

All of Edinburgh’s 15 festivals including the international festival, book festival and the fringe are facing sharp falls in their government subsidies.

Creative Scotland faces a 10% to 15% cut in its government grant. A Scottish government spokesman said: "No government funding can be agreed until the comprehensive spending review. No decision has been made in either direction."