Course blog for American University PERF-570, Fall 2014
This article from Crain’s details how the new president of Lincoln Center, Jed Bernstein, set a new strategical plan in motion and it includes strengthening its corporate sponsorship. He has hired a firm to help Lincoln Center find new partners and promote sponsorship of the arts. Stress has been put on increasing tickets sales for a steadier financial base, but more backing from corporate sponsors would greatly aid in Lincoln Center’s current struggles. Corporate sponsorships are supposed to increase 4 percent this year, but only 4 percent of the projected increase to $20.6 million will go towards sponsorship of the arts. So here are some questions for all you development people:
As art managers, how do you convince corporate sponsors to support arts venues like Lincoln Center? Currently, 70 percent of corporate sponsorships are given to sports, so why should corporations choose to sponsor arts over sports? What are the major benefits corporations would gain from sponsoring Lincoln Center?