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ARTS INVESTMENT NEWS - Dec-Aug 2011

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Wealth brings art to Delhi's new gallery district. India's art market is still in its infancy, with sales accounting for an estimated one percent of the global art market, which is valued at around $40 billion, but experts expect it to grow sharply. AFP, 31 Dec 2011

 

2011 was a year of blockbuster art shows and rising Chinese power in the art world. Business Ghana, 31 Dec 2011

 

Taiwan’s Council for Economic Planning and Development aims to build better infrastructure for cultural tourism. Taiwan Today, 31 Dec 2011 

 

'Stagnant' cultural institutions could suffer in 2012 says Canadian Heritage Minister. The Vancouver Sun, 30 Dec 2011

 

Inuit film is struggling. The Globe and Mail, 30 Dec 2011

 

Roller coaster year for Indian art: 2011 in retrospect. The Times of India, 30 Dec 2011

 

Art market puts stocks on the canvas in 2011. The Mei Moses’ All Art Index rose 10.2% in 2011, compared with a 16.6% increase in 2010. Market Watch, 30 Dec 2011

 

Rich investors take refuge in contemporary art. The market in contemporary art surged by 35 per cent in this year's auctions as an influx of wealthy buyers sought refuge from financial turmoil. New Zealand Herald, 30 Dec 2011

 

The art market: Record breakers and fakers. A round-up of high and low points for the sector during the past year. Financial Times, 30 De 2011

 

Cultural industries in Jamaica show impressive earning capacity. Jamaica observer, 29 Dec 2011

 

Growth of China's creative industries sector draws overseas returnees. Channelnewsasia.com, 29 Dec 2011

 

Kickstarter – A Leader in Funding 'Creative Independence' through Crowdsourcing. Technology Profiles, 29 Dec 2011

 

Single-owner sales rescue art market. The Australian, 29 Dec 2011

 

The government St. Lucia has appointed a new minister of tourism with responsibility for heritage and creative industries. New York Amsterdam News, 29 Dec 2011

 

The Portuguese city Guimaraes refreshes its arts scene as it takes on the status of European Capital of Culture, together with Maribor in Slovenia, in 2012.Deutsche Welle, 29 Dec 2011

 

India’s art market and an outlook on its arts sector in 2012. Hindustani Times, 29 Dec 2011

 

U2 is top touring band in 2011 with $232M in ticket sales. CBC news, 29 Dec 2011

 

Looking at the relationship between major sponsorships and the arts. The Independent, 29 Dec 2011

 

Big Disruption in Book Industry In 2011. USA Today, 29 Dec 2011

 

Create, share, fund, review: the new online world of culture. The Irish Times, 29 Dec 2011

 

Scheme to boost cultural activities in Malta in 2012. The Malta Times, 29 Dec 2011

 

Innovative Funding Strategies Keep New Media Artists Afloat. Art Info, 29 Dec 2011

 

The next government of Hong Kong is likely to create a bureau to promote its cultural industry. Hong Kong News Watch, 29 Dec 2011

 

Azerbaijan’s President forms a ‘superdirectorate’ of cultural, historical and ethnographic reserves. Azerbaijan Business Center, 29 Dec 2011

 

Lack of Government Funding for Thai Films. The Bangkok Post, 28 Dec 2011

 

India-Japan Joint Statement on Enhancing Strategic & Global Partnership – creative industries. The countries’ two Prime Ministers expressed their expectation that the strengthening of cooperation in creative industries, which range from design, apparel, fashion, food, house-hold goods, music, movies, animation and manga, and traditional craft, would further promote and deepen mutual understanding of the two countries. NetIndian.in, 28 Dec 2011

 

Indonesia’s Ministry of Tourism and Creative Economy has set a new optimistic target for 2012 at 8 million tourist arrivals, with foreign exchange earnings projected to reach $8.98 billion. The Jakarta Globe, 28 Dec 2011

 

Gerhard Richter Tops Art World's Changing Market. Huffington Post, 28 Dec 2011

 

At the very upper edge of the art market, collectors are increasingly comfortable shelling out major money for some art works. Gallerist New York, 28 Dec 2011

 

The misleading security of investing in Art. Die trügerische Sicherheit der bemalten Leinwand (in German). Financial Times Deutschland, 28 Dec 2011

 

Film Industry Revives in Former Yugoslavia. The New York Times, 28 Dec 2011

 

L'année du marché de l'art en France – Bilan 2011. Art Price, 27 Dec 2011

 

Hirst, Warhol Prices Outperform S&P 500 in Art Index. Art by Damien Hirst and Andy Warhol outperformed the Standard & Poor’s 500 index over the past 10 years, according to a new measure by Artnet AG designed to rank the performance of art as an asset. Bloomberg, 21 Dec 2011

 

European Union proposes world's largest ever cultural funding programme. The €1.8bn allocated for culture comes at a time of worsening economic crisis across the Eurozone. The Art Newspaper, 21 Dec 2011

 

Otis Report: L.A.'s 'creative economy' loses thousands of jobs. The Otis Report's 2010 economic study of Los Angeles and Orange County's arts and entertainment industries detail employment declines as well as some gains in average pay in some fields. Los Angeles Times, 20 Dec 2011

 

The global art investment fund market has grown from 760 million USD in 2010 to 960 million USD in 2011. Along with the demand of high net worth individuals for a more balanced portfolio, there has been recent growth in the global art market. Luxembourg for Finance, 20 Dec 2011

 

Mapping Profits: Cartography and Fine Art Investment. Investing in antique and rare maps can provide attractive returns. CNBC, 20 Dec 2011

 

Investors calm down at 2011 autumn auction. The overheated situation in the Chinese auction market has been improved and the market becomes reasonable and mature increasingly. Structural adjustment is on the way. Capital from various sources enters the market. Chinese Economic Daily, 20 Dec 2011

 

Creative Industry Development Part of Nigeria’s 2012 Budget. In presenting the 2012 appropriation bill, the President to the National Assembly of Nigeria states that more attention will be given to the country’s creative industries in order to further develop the sectors known to be sources of growth and job creation. This Day Live, Nigeria, 19 Dec 2011

 

BP pledged another 10 million pounds of funding to four well-known London museums and art galleries. Over the next 5 years, the money will go to the Royal Opera House, Tate Britain, the British Museum and the National Portrait Gallery, the company said. Reuters UK, 19 Dec 2011

 

New budget plan cuts NEA and NEH 5.6% but boosts Smithsonian. The National Endowment for the Arts and National Endowment for the Humanities each will see a 5.6% budget reduction in fiscal 2012.  Los Angeles Times, 19 Dec 2011

 

As markets plunge, Asia's wealthy flock to art. Despite giddy Chinese art prices showing some strain from global economic uncertainty, collectors think values will continue to rise due to limited supply and continued strong demand as Asian collectors become more affluent. Reuters (Hong Kong), 19 Dec 2011

 

The Chinese art market cooled this fall after several boom years. The autumn auction season brought in 40 billion yuan, a drop of 6.6 percent from the spring season's 42.84 billion yuan. China Daily, 19 Dec 2011.

 

Art falls prey to commercialism. Pakistan Today, 18 Dec 2011.

 

Asian art turns from plaything of Hong Kong's young rich into moneyspinner. Demand for high-end Chinese art booms as the growing number of millionaires seek alternative investments. The Guardian (UK), 18 Dec 2011

 

E-book prices spark global discussion between publishers and retailers. The issue of e-book prices has sparked a global controversy as publishers lock horns with book retailers over how much consumers should pay. CBC News, 16 Dec 2011

 

UN-backed international centre for women in arts to open in Jordan. The “genius of women artists from around the world” will be the main focus of the United Nations-backed International Centre for Women Artists (ICWA), a museum and arts education project that will open in Jordan next year. UN News Centre, 16 Dec 2011

 

Chinese Boost Art-Market Presence. China Guardian Auctions Co., one of China's top auction houses, will open an office in New York. Wall Street Journal, 16 Dec 2011 

 

A Deep Look At The Growing Global Marketplace For Art As An Investment. Deloitte Luxembourg and art market research firm ArtTactic just released a major reportlooking at the early stages of an art and finance industry around the world, and conclude that the art market is going through a major transformation. Business Insider, 15 Dec 2011

 

Taiwan’s presidential candidates expound cultural policy ideas. Current PresidentMa Ying-jeou said the government has set up the Cultural Development Fund, a special fund to help the culture sector which is more flexible than the government budget. Taiwan News, 15 Dec 2011

 

How the Rich Spend.  At Sotheby's, a business contract sold for "$1,594,500, with six bidders vying fiercely for it.The ArtsJournal, 14 Dec 2011

 

UK Treasury rules stop museums spending donors’ cash. National museums reluctantly set up trusts to help gain access to their own reserves. The Art Newspaper, 14 Dec 2011

 

The UK Tate Galleries may not renew BP sponsorship deal after environmental protests. Director of group that covers four galleries around UK says decision is due on partnership deal with BP, expiring next year. The Guardian, 13 Dec 2011

 

Brick-And-Mortar Bookstores See Rise In Customers. Facing economic gloom and competition from cheap e-readers, brick-and-mortar booksellers  in the Stateswere surprised to find that the initial weeks of Christmas shopping  have yielded surprisingly strong sales for many bookstores. The New York Times, 13 Dec 2011

 

BBC radio programmes pass one billion downloads. More than one billion BBC radio programmes have been downloaded since the launch of the corporation's podcast service in 2007, it has been announced. BBC, 12 Dec 2011

 

Ireland’s arts sector takes funding hit. Next year’s budget allocation for the Irish Arts Council will fall by 3.2% to €63.1 million (£53.8 million) as the country seeks to curb public spending in response to continuing economic difficulties. The Stage, 12 Dec 2011

 

Wages in Brazil’s creative industry sectors such as professional

television, music, cinema, advertising and architecture are 45% higher compared towages in other sectors. Administradores, Brazil, (in Portuguese) 12 Dec 2011

 

Should the arts be more selective about sponsors? A debate on the withdrawal of two poets from a prize shortlist last week in protest at its hedge fund sponsor. The Guardian (UK), 10 Dec 2011

 

Video Advertising Grows Despite Economy Downturn. Marketers remain keen on buying commercial time during video programming despite the uncertain outlook for the economy.  The New York Times, 08 Dec 2011

 

Creative Industries Fund to be launched in Macau in 2012. The long-awaited fund for the development of cultural and creative industries will be created next year, the secretary for Social Affairs and Culture told lawmakers on Friday during the second day of debate over his 2012 Policy Address. Macau Daily Times, 05 Dec 2011

 

Film Financing’s Global Future. Increasingly, sophisticated filmmakers who once relied on American studios for backing are turning to a globe-straddling independent finance system for their most expensive projects. The New York Times, 05 Dec 2011

 

UK parliament launches new Arts Index to provide an annual health check on the arts measuring everything from financial investment to audience numbers. The Guardian (blog), 05 Dec 2011

 

Why is Art so Damned Expensive? Despite the flatlined economy, the art market has been roaring. In the first half of this year, total worldwide art sales hit a record of €4.3 billion ($5.8 billion), up 34 percent from 2010, according to the French Web site Artprice.com. The Daily Beast/Newsweek, 05 Dec 2011

 

Curtain Could Fall On A Dazzling Arts Center In Spain. Opened in March this year, the Niemeyer Center for the arts in Aviles, a dazzling museum that has hosted sold-out performances by Kevin Spacey and Woody Allen, is slated to close on Dec. 15, after barely nine months of operation, because of regional budget cuts. NPR, 14 Dec 2011

 

Pioneers of Art Basel Miami Beach take stock on how the fair and its satellites defied the sceptics. The Art Newspaper 03 Dec 2011

 

Saatchi's scathing portrait of the art world might have impact on a buoyant contemporary art market. Leading British collector Saatchi launches surprise attack saying buyers and dealers 'can't tell good artists from bad'. The Guardian (UK), 02 Dec 2011

 

The Miami Art Museum will be renamed the Jorge M. Pérez Art Museum of Miami-Dade County after a $35 million gift from the developer. Joining the ranks of major givers in Miami, developer Jorge Pérez has pledged to donate $35 million in cash and art from his personal collection to the new Miami Art Museum, which will bear his name when it opens in two years. Miami Herald, 02 Dec 2011

 

Study: Free Admission To UK Museums Has Doubled Attendance. Government-sponsored museums that have stopped charging since 2001 have seen combined visitor rates more than double in the past decade, figures show. Almost 18 million people visited the 13 attractions in 2010-11, compared with 7 million in 2000-01. BBC, 01 Dec 2011

 

Canadian Government shifts money from bureaucracy to the arts. Heritage Minister James Moore told the Canadian Heritage committee Thursday that the arts are good for the economy, while pointing out that Canada is the only G8 country that actually increased funding for arts and culture during the recession.  As an economic generator, arts and culture industries are worth $46 billion, and employ 4 per cent of Canadians. CBC News, 01 Dec 2011

 

Arts Council England publishes internship guidelines for cultural organizations. Arts Council England and Creative and Cultural Skills have published guidelines for arts organisations wanting to take on interns, including that they pay them at least national minimum wage. The Stage UK, 28 Nov 2011.

 

Abu Dhabi might revise its cultural policy. Abu Dhabi's Tourism Development and Investment Co (TDIC) announced that its Guggenheim and Louvre museums, which are part of a $27 billion development, would not be completed by 2014, as projected. No new dates for the openings have been announced. More Intelligent Life (blog), 27 Nov. 2011.

 

In The UK, Arts Audience Expanding During Economic Contraction.  The Telegraph (UK), 27 Nov 2011.

 

Does art need bankers? As Italy’s new technocratic government struggled to its feet, 100 financiers, entrepreneurs, collectors, curators, dealers and academics gathered in Florence for a private conference on the future of art and finance. The Art Newspaper, 24 Nov 2011.

 

UK government unveils a national music plan with an ensemble of cuts. Government announces radical shakeup in children's music education – to the tune of vastly reduced funding. The Guardian, 24 Nov 2011.

 

Digital Art Marketing: launch of new website selling high-end art. The site, which isdedicated to selling digital editions of art, was founded by top art dealers and offers the works of top artists, including Damien Hirst and Tracey Emin, to download for "affordable" prices. The Guardian (blog), 22 Nov 2011.

 

Creative Economy, digital content and development under focus in Brazil. Creative economy and digital content as part of development are the themes of Code Arena, an event organized by the Ministry of Culture, the Ministry of Planning and the Federal District Cobre Technology in partnership with IPEA, that will take place on 23-25 November in Brasilia. (in Portuguese) Ministério da Cultura, Brazil, 22 Nov 2011.

 

Corporate Support for Dance in New York Wastes Away. A new report on New York City's dance industry reveals that corporate support is the lowest source of private contributions to the field - behind foundations, organizational boards, and individual giving. The Wall Street Journal, 16 Nov 2011.

 

Artists" Impact On Ireland's Economy. Ireland's state-funded arts organisations and practitioners generated turnover equivalent to more than twice what they received in grant-in-aid from the Arts Council and supported more than 2,600 jobs in 2010. The Stage, 17 Nov 2011.

 

Legislation needed for more active commercialization of traditional culture in Korea. The Korea Times, 14 Nov 2011.

 

EMI sells music unit to Universal. UK music firm EMI has said it will sell its recorded music unit for £1.2bn ($1.9bn) to Universal Music. Reports have suggested that the other half of EMI's business - the lucrative music publishing unit - will go to a Sony-led consortium for more than $2bn. BBC News, 11 Nov 2011.

 

Tourism meets Culture: launch Arts Holland. Combining the forces of the cultural, tourism and technological sector, Arts Holland places the Netherlands on the international map as an attractive, cultural destination. SICA - Dutch Centre for International Cultural Activities, 11 Nov 2011.

 

EU structural funding supports arts and cultural projects in Austria. Current study demonstrates the importance of EU regional programs for the promotion of culture in Austria. (in German) Bundesministerin für Unterricht, Kunst und Kultur, 11 Nov 2011.

 

Private sector fundraising “not enough”, warn arts bodies in UK. New research has revealed that one-third of arts organisations believe it will take until 2015 to recoup losses in public subsidy through other sources of income; a further 30% of organisations do not feel confident enough to predict when full recovery will be possible. The Stage (UK), 10 Nov 2011.

 

UNESCO suspends new programs after U.S. funding cut. The United Nations' cultural agency has suspended new programs in response to the U.S. decision to cut off funding after UNESCO granted the Palestinians membership. Reuters, 10 Nov. 2011

Sotheby's stuns with $316 million contemporary art sale. The art auctions ended with a flourish on Wednesday as Sotheby's sold $316 million of contemporary and postwar art, the best result of two weeks of sales and led by a $61.7 million Clyfford Still abstract. Reuters, 10 Nov. 2011

U.S. heiress brings art to Middle America. The heiress daughter of Wal-Mart founder Sam Walton is bringing art to Middle America when she opens a new museum this week featuring an immense collection of American art.  Reuters, 09 Nov. 2011

Postwar and Contemporary Artworks Draw Record Prices at Christie’s New York. The auction, with 91 works running the gamut from masters like Warhol and Twombly to many of today’s trendiest artists, totaled $247.6 million in sales. The New York Times, 08 Nov. 2011

Sales of digital albums soar year on year. In the UK, digital album sales in 2011 hit £21m, beating last year's total even before the traditional Christmas boom. The Guardian, 07 Nov. 2011

Chilean Minister of Culture reveals the real contribution of culture to the economy and announces the first Mapping of Creative Industries. In the Second Seminar on Culture and Economy previously unpublished figures were released showing that the culture sector contributes 1.6% of GDP, surpassing even areas such as fishing. (Spanish). Consejo Nacional de la Cultura y las Artes, Chile, 04 Nov. 2011

Arts Council England Launches Strategic Funding Plan. The Arts Council has today published details of how it will invest £440 million of strategic funding between 2012 and 2015, including two new programmes for Capital and Touring. Arts Council Press Office, 01 Nov. 2011

Credit for Columbia’s creative enterprises. The Ministry of Culture and the Foreign Trade Bank of Colombia (Bancoldex) signed an agreement to provide $4,000 million Colombian pesos to enterprises in cultural industries and to boost the industry sector. (Spanish). Ministerio de Cultura de Colombia, 31 Oct. 2011

IDB Cultural Centre launches call for proposals for small-scale projects. The Cultural Centre of the Inter-American Development Bank has launched a call for proposals from arts and cultural institutions to fund small-scale cultural development projects in Latin America and the Caribbean through its grant program. Inter-American Development Bank, 31 Oct. 2011

China steps up support for culture industry. China is trying to increase the contribution of culture sector to the national economy while its leadership prioritized cultural development at a key session this month. China.org.cn, 30 Oct. 2011

Founders of Public Buildings in Estonia Must Spend 1% on Art. The new law, under which at least 1 percent of the construction budget of public buildings must be allocated for the commissioning of artwork, has created confusion among some establishments. Estonian Public Broadcasting, 27 Oct. 2011

Museum of Himalayan and Indian art to receive $25m gift from founders. Dedicated to helping fund operations, exhibitions and programs over the next five years, the gift to the Rubin museum will help strengthen a unique New York institution. Artdaily.org, 27 Oct. 2011

 

Arts funding takes centre stage in South Africa. The debate about the sensitive issue of arts funding has again been thrust into the spotlight in the ongoing discussions spearheaded by the arts funding body, the National Arts Council. South Africa, Sowetan Live, 24 Oct. 2011

Bulgaria’s Culture Minister threatens to resign if ministry’s budget is not increased. Bulgaria, Focus Information Agency, 24 Oct. 2011

 

China's cultural industry predicted to become a pillar of the economy by 2016. China's Minister of Culture Cai Wu expects value-added output of the cultural industry to account for 5 percent of the country's gross domestic product (GDP) in 2016. Beijing, Xinhua, 22 Oct. 2011

 

Grants by Namibia’s National Arts Council see a 147% increase over the previous year. The budget was increased to better accommodate the needs of artists, says the Arts Council’s Chairperson. Namibia, New Era, 21 Oct. 2011

 

Government funding for Australia’s cultural activities in 2009/10 saw an increase of 2% from previous 2008/9. The Australian Bureau of Statistics has released the government’s cultural funding results. Australia, Culture and Recreation News, 14 Oct. 2011

 

Arab Spring Triggers Fall of Art Auction Market. Among the effects of this spring’s ‘Arab Awakening’ is a sharp downturn in Islamic art. Auction News Network, 12 Oct. 2011

 

French Minister of Culture and Communication has announced 15 measures to promote visual arts in France. With the aim to strengthen the dynamism of the visual arts in France and the influence of the French scene abroad, they facilitate public and private initiatives. Ministry of Culture and Communication, France, 11 Oct. 2011

Corporate cash for the arts in Ireland. Companies will have to be more involved in the arts to make up for the absence of Government funding, Minister for the Arts Jimmy Deenihan has said. Irish Times, 10 Oct. 2011

A New Report on Arts Funding in the US. Billions of dollars in arts funding are serving a mostly wealthy, white audience that is shrinking while only a small chunk of money goes to emerging art groups that serve poorer communities. Huffington Post, 10 Oct. 2011

Brazilian industrialist to build ambitious contemporary arts park. One of Brazil’s most successful businessmen, Bernardo Paz, unveiled plans last week to build a mecca for contemporary arts fans around the Inhotim Cultural Institute, a sprawling rural estate that is already one of the most  unusual arts destinations in Latin America. The Guardian, 09 Oct. 2011

Creative Industries Are Not Bad Investments, And Banks Should Lend To Them. The  report “Risky Business” by British think tank Demos will suggest start-up companies in the creative industries are no more likely to fail than the economy as a whole, and are statistically more successful than hotels and restaurants.  The Independent, 09 Oct. 2011

 

As China Rises, the Art Market Morphs. With the fall auctions under way, Chinese collectors are bidding up their cultural heritage, setting new records nearly every week. 'Soon a Chinese ink painting is going to outsell Picasso.' Wall Street Journal, 07 Oct. 2011 

Swiss cultural policy takes a new direction due to increased budget. The Swiss parliament has approved a four-year culture budget worth SFr 669.5 million ($742 million), SFr 31.6 million more than the budget proposed by the cabinet. It will see significant increases in funding for cinema and the protection of heritage and monuments. Swissinfo.ch, 03 Oct. 2011

Wearing a Philanthropic Heart on Their Designs. For Some Designers, Charity Begins at Work as They Create New Products Meant to Improve Lives and Organize Fund-Raising Projects. The New York Times, 30 Sept 2011

The Colombian Government and the Bill & Melinda Gates Foundation Join Forces to Strengthen the Country's Public Libraries. Access to sources of knowledge through technology, and improvements in quality of life, are the benefits of this partnership, Bill & Melinda Gates Foundation, 27 Sept 2011

Details unveiled for £100 million scheme to boost private giving to culture in England. Arts Council England, the Heritage Lottery Fund (HLF) and the Department for Culture, Media and Sport (DCMS) today announced further details of the £100 million Catalyst scheme to boost private giving to the cultural sector and build long-term resilience, sustainability and innovation. Arts Council England, 29 Sept. 2011

Canadian Government arts grant spending drops $36 million. According to a spending database curated by the parliamentary budget officer, grant spending of the heritage department responsible for arts and culture funding dropped by $36 million from April to June this year. The Vancouver Sun, Canada, Sept 28 2011

The Colombian Government and the Bill & Melinda Gates Foundation Join Forces to Strengthen the Country's Public Libraries. Access to sources of knowledge through technology, and improvements in quality of life, are the benefits of this partnership, Bill & Melinda Gates Foundation, 27 Sept 2011

Enhancing cooperation between Singapore and Japan in the Creative Industries. Singapore’s Minister for Information, Communications and the Arts and Japan’s Minister of Economy, Trade and Industry met to discuss opportunities for stronger bilateral cooperation in the creative industries. Channelnewsasia, 23 Sept. 2011

Creative Scotland’s 2012-13 budget to invest in Scotland’s cultural infrastructure. While Creative Scotland - the national body supporting and promoting Scotland's culture, arts and creative industries - will receive a 2% core budget reduction in 2012-13, this is a smaller than portfolio average reduction. Creative Scotland, 22 Sept. 2011

Live music venues contribute $1.2 billion a year to Australian economy.Contemporary music gets little funding, small venues are breeding grounds for emerging bands and therefore where the music export industry starts. The Australian, 19 Sept. 2011

US Consortium Views Arts as Engines of Recovery. The National Endowment for the Arts enlists a consortium of foundations, corporations and federal agencies that will use cultural enterprises to enliven 34 projects around the country. New York Times, 14 Sept. 2011

 

Micro-Arts Funding Initiative Earns $1-Million

United States Artists has funded 125 projects with over 7,000 donations since the inception of an online micro-philanthropy effort last December. Los Angeles Times, 13 Sept. 2011

 

Peer Leadership in Cultural Philanthropy sees an Increase in Australia

Convincing benefactors to shed the cloak of anonymity is just one of the issues facing the philanthropic sector. The Age, Australia, 12 Sept. 2011

 

Angel investors financing theatre productions

With the current volatile state of the stock market, some angel investors are turning to other forms of investment such as theatre productions, often investing relatively small amounts such as £500 to £10,000. The Independent, 11 Sept. 2011

 

Tate Modern's extension delayed due to funding issues.

The Tate Modern extension will not be fully open in time for the 2012 Olympics, with £64m still needed to complete the project. BBC News, 08 Sept. 2011

 

New Guidelines for the Malta Arts Fund.

The Fund’s two new funding strands focuson Malta’s cultural development needs. Malta Council for Culture and the Arts, 05 Sept. 2011

 

Creative New Zealand implements overhaul of funding programmes.

Over the next three years more than $50 million will be invested in 72 arts organisations, with the majority of funding to be delivered through long term contracts. Arts Council of New Zealand, 01 Sept 2011

 

Swiss artist to set up a crowd-funding platform for the creative industries in Switzerland (in German). Startupticker, 31 Aug. 2011

 

Mozambique launches program for creative industries (in Portuguese). Economics journal online, 19 Aug. 2011

 

China Invests In Animation For Cultural Diplomacy

The National Animation Industry Park represents part of the Ministry of Culture's $695-million attempt to spur the national animation industry and make films that can compete on the international market.  Los Angeles Times, 08/17/2011

 

Shanghai Establishes Creative Industry Investment Fund Alliance

According to the news from Shanghai Creative & Design Progress Workshop Shanghai has set up an creative industry investment fund alliance with  state, private and foreign capital. PEdaily, China, 9 Aug 2011

 

Jamaica and South Africa Ministers of Culture determined to put creative industries at forefront of their economies

The Minister of Youth, Sports and Culture, the Hon. Olivia Grange, MP, and the South African Minister of Arts and Culture, the Hon. Paul Mashatile held bilateral talks on the implementation of the cultural cooperation agreement between both countries. Ministry of Youth, Sports and Culture Jamaica, 04 August 2011

 

US House of Representatives Defeats Attempts to Cut Arts Funding. NASAA Notes, USA, 04 Aug 2011