Business Brief: The new economics of the arts in Canada

the biggest philanthropic pledge in its history on the weekend. But the nature of the Barrett Family Foundation’s donation might prove just as notable: the $15-million over 15 years will be used for “community engagement and education programs.” Today, in concert with reporter Josh O’Kane, we look at how some of Canada’s cultural institutions are planning to stay relevant by reaching further out. But first:The contract for a union representing dockworkers along the U.S.

The analytics agency TRG Arts recently found that gifts to the Canadian arts sector had fallen 45 per cent between 2019 and 2023. A gift of this size and nature is beneficial for more than just the cash flow tied to TSO’s programming – it also helps expose some of the most talented musicians in Canada to new generations and communities. And with Canada facing significant demographic changes, this could, in turn, transform new fans into future patrons.

The key word here is “relevant.” Alex Sarian, who runs the Arts Commons cultural complex in Calgary after he spent six years at New York’s Lincoln Center for the Performing Arts, has a book coming out tomorrow called. It’s about navigating the rough economic climate facing today’s cultural institutions. One of its key themes is that legacy organizations need to drop the mindset of being cultural arbiters.

Overseas, the pan-European STOXX 600 was down 0.83 per cent in morning trading. Britain’s FTSE 100 declined 0.53 per cent, Germany’s DAX gave back 0.52 per cent and France’s CAC 40 dropped 1.62 per cent.Arts and Entertainment Industry

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