The UK Government is investing £20 million into cultural projects in the areas of Grimsby, Wakefield, Plymouth, Worcester and the Thames Estuary area of Kent. “This is an incredible opportunity that will not only help people build careers in the arts and culture locally but also boost wider investment and diversify the creative economy,” says Jeremy Wright, the culture secretary.
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Artist Ed Fornieles is embarking on a new project, selling a series of works that ensure collectors a stake in future profits from the artist’s work. “It’s another way of sourcing capital for production and then rewarding that upfront cash with a percentage of the profits,” the artist says. “If you look at the current models which exist, they rely on very small groups of collectors and it’s prone to risk. As soon as the chain of sales is broken, it leaves both the artist and the gallery exposed. So this is a way of using larger networks of support to diffuse that risk for both parties.”
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