Sponsorship is when a sponsor receives a commercial benefit in exchange for the payment of money or the provision of in-kind assistance to a rights holder (artist or arts organisation). The benefit usually stems from the exposure the sponsorship can generate for the sponsor or from other benefits such as ticket allocations and corporate hospitality.
Why do businesses sponsor the arts?
Common motivations for businesses to be engaged in the arts are as follows.
- Improve company profile or enhance public opinion
- Stimulate sales/trial/usage
- Brand development eg. increase brand awareness/brand loyalty/change reinforce brand image
- To help deliver Corporate Social Responsibility goals
- To support the local community
- Media exposure
- Corporate hospitality
- Staff Motivation