US company mergers may result in sponsorship shrinkage

Standing out from the crowd with art sponsorship becomes unnecessary, as more and more of America's biggest corporations unify

According to the Economist, in 1998 worldwide mergers worth $26.2 trillion took place, compared to $23.9 trillion in 1996. In the US alone, there were 12,000 mergers, among them some of the country’s biggest art patrons, such as Bell Atlantic, AT&T and Citicorp. This may lead to a reduction in arts sponsorship, since corporate giving is largely to promote an individual company’s image. According to Giving USA, corporations gave $8.2 billion to nonprofit bodies in 1997, which, when contributions to religious institutions were discounted, represented 12% of all giving in the US.

Originally appeared in The Art Newspaper as "Mergers may shrink sponsorship"

Appeared in The Art Newspaper Archive, 89 February 1999