Edinburgh Festival Funding Warning
The "Premier Division status'' of Edinburgh's festivals is at risk of relegation if current investment into its programming is not maintained, a new report has warned.
The Thundering Hooves 2.0 study said that public funding, while essential, is clearly going to reduce in the light of the overall changes in public finances. It warned that some £10 million a year will have to be generated from alternative funding mechanisms if, over time, public investment from existing sources needs to be replaced entirely.
The report also highlighted that the festivals are "behind the curve'' on digital innovation and risk being overtaken by others despite some important programmes and initiatives.
The Thundering Hooves 2.0 study assesses the local and global opportunities and threats relevant to the future development and sustainability of the city's 12 festivals, and proposes a 10-year strategy.
It was commissioned by the Festivals Forum to review progress on the 2006 Thundering Hooves report and to chart a course for the next decade.
Festivals Forum chair Lady Susan Rice said: "Following the publication of the first Thundering Hooves, the results achieved to date are compelling testament to the power of ambition and collaboration.
"We're delighted to share Thundering Hooves 2.0, an important report which sets out the strategic plan and recommended actions for Festivals Forum to take forward during the next 10 years.
"While much has been delivered already, this review and re-focus will ensure Edinburgh addresses key challenges and opportunities, ensuring the Festival city retains its global competitive edge in the months and years to come.''
The 12 festivals include the Edinburgh International Festival, Edinburgh Festival Fringe, Edinburgh International Book Festival, Royal Edinburgh Military Tattoo and Edinburgh's Hogmanay.
The report identifies six key themes as significant drivers of change, which include that the festivals must collaborate to support educational aims and social justice while infrastructure and operations need to continue to evolve.
The combined income of Edinburgh's festivals in 2014/15 was £36 million, of which approximately £9 million came from public funding, the rest being commercial earned income.
The report said the festivals must work with bodies including the City of Edinburgh Council and the Scottish Government to ensure that a solution is found to the proposed significant reduction in public funding, identifying new private-sector investment streams.
It also said that Edinburgh's festivals must be a "digital phenomenon as well as a physical one'' and need to be leaders in the digital sphere in addition to the festival sphere.
The report said digital should be the next big area of growth in content distribution and audience development, across all festivals.