The bosses of Edinburgh’s summer festivals have been discussing the increasingly challenging world of arts sponsorship in the wake of protests against certain sponsors, usually because of their corporate connections with either fossil fuels or the conflict in Gaza.

In Edinburgh, the highest profile protests have targeted investment firm Baillie Gifford, with the Edinburgh International Book Festival ultimately ending its relationship with the company.

In the music space, live giant Live Nation had to end its brand partnership with Barclays after artists began pulling out of its festivals because of the bank’s investments in Israel.

Many festivals rely on sponsorship for a portion of their funding, with the Financial Times estimating that sponsorship and private donations can account for up to 30% of the budget.

As a result of the protests against the likes of Baillie Gifford and Barclays, some companies are putting less of their sponsorship budgets into music and culture.

And even where the brands are still spending, festivals need to give consideration of any potential backlash among performers and ticket-buyers when deciding whose cash to accept.

Speaking to the FT about the funding of the Edinburgh International Festival, its CEO Francesca Hegyi says there has been a “wholesale collapse of arts sponsorship”, because of the protests and boycotts causing “reticence” among many corporates who might previously have put money into culture.

Meanwhile, Edinburgh Fringe Society CEO Tony Lankester, tells The Stage, “Corporate sponsors are very risk-averse, and they will walk away from any environment that is contentious, that is fractious, that is noisy, that is high-risk. Arts organisations are – almost by definition – all of those things”.