Why can’t the Arts Council invest in commercial shows and use the profits to support more arts organisations?
This question occurred to me as I was reading Ruairidh Nicoll’s piece in the Observer about the Royal Opera House. He points out that the ROH only hasĀ 2,268 seats, so it can never, ever be a ‘people’s palace’, even if the seats were a quarter of the price (to be fair, you can still stand for four quid). However, the Royal Albert Hall has something over 6,000 seats, and Raymond Gubbay uses it to put on huge, popular and increasing critically-acclaimed productions such as his current Madame Butterfly.
If the Arts Council were to be able to buy a few shares in that, it would do a number of things: make money for ACE which it could distribute elsewhere; get a return on the money ACE has already put in over decades to the creation of the talent which Mr Gubbay is able to draw on to produce his shows (including great backstage and technical staff); show approval of and support for Mr Gubbay’s entirely laudable aim to bring opera to a wider audience; increase the cash at Mr Gubbay’s disposal at the outset of a production, enabling him to continue and increase the artistic success of his work.
No doubt this sounds naive and possibly old hat, but maybe it’s an idea that could come round again in the endless turning of Fortune’s wheel. (I do hope you noticed that reference to another hugely money-spinning choral and orchestral work.) It’s a model used by the UK Film Council, though perhaps we oughtn’t to say that out loud given that body’s imminent demise.
The ROH is going to take the Royal Ballet to the O2 Arena, which is a great idea and for which they have to sell 52,000 seats. Will this make money? If so, could the Arts Council have bought into it and generated some funds? I can’t see why they shouldn’t be able to – plenty of registered charities invest to generate financial return which can then be put to good charitable use.
Of course there would be downsides – if the show tanks, then that’s public money down the drain. However, I feel sure there’s a way to minimise the potential damage – for example by using ring-fenced reserves, and also by being very careful when choosing which shows to back.
Some of you will be thinking that this is a bit of a right-wing idea to come from the pen of Lady Eff, but there again, most of us have our savings in interest-generating funds, and this idea is not so very different.
