New investment: an exploratory case study of three mature Edinburgh festivals and their future funding opportunities
View/ Open
Date
2011-08Author
Lin, Kuan-Wen
Stein, P.
Goldblatt, Joe J.
Metadata
Show full item recordCitation
Lin, K., Stein, P. & Goldblatt, J. (2011) New investment: an exploratory case study of three mature Edinburgh festivals and their future funding opportunities, Event Management, vol. 15, , pp. 179-195,
Abstract
This article examines how festival holding organizations (FHOs) may identify emerging sources
of alternative financing from banks, venture capitalists, and venture philanthropic organizations.
The research includes both quantitative analysis of 10 years of economic data from festivals in
Edinburgh, Scotland and qualitative interviews with a leader in both the banking and cultural
community. The research concludes that there is a growing need for FHOs to identify new sources
of funding beyond that historically provided by the public sector or earned income such as ticket
sales and that a combination of banks, venture capital firms, and venture philanthropic organizations
may provide valuable alternative funding sources in the future.