Major arts centres announce 20% turnover boost over three years
Major arts centres across the UK have boosted their takings by nearly 20% during the past three years.
The surge was announced by Future Arts Centres, a group of nine founding centres that represent a wider network of more than 90 venues.
An annual report released by the partnership revealed the nine main arts centres – including Stockton ARC, Birmingham Mac and the Albany in south London – had increased their collective turnover by 19% to £21.6 million since FAC was founded in 2013.
Arts Council England invests an average of £343,000 in each venue and local authority funding makes up just £153,700 of each venue’s takings.
This means the centres generated around 80% of their turnover from earned income and fundraising.
An FAC representative said the growth had been achieved “despite the challenging economic conditions in recent years”.
She continued: “This is testament to the value audiences attribute to arts centres and to the sector’s ability to diversify income streams and innovate to succeed.”
Other members of Future Arts Centres include Rich Mix, Cambridge Junction, Brewery Arts Centre, Lincoln Drill Hall, Artsdepot and Stratford Circus Arts Centre.
The average ticket price charged across the nine partner venues was just £8.75 against a national average of £22.84, according to the Audience Agency’s figures.
Events at these centres pulled in 2,164,000 people in the 2015/16 financial year, 16.4% of which were children and young people.