Bang goes the Festival Fireworks' sponsorship deal

Published on Friday 16 July 2010 14:35

EDINBURGH's world famous Festival Fireworks is in danger of becoming a damp squib after sponsors Bank of Scotland (BoS) pulled out of the event.

This will be the last year that the bank sponsors the fireworks, The Scotsman can reveal, bringing to an end a 16-year sponsorship deal which has pumped 4 million into the event.

Now organisers have admitted it is "too early to speculate" on the future of the concert, which has been left with a 250,000 funding gap to fill next year with the loss of its major sponsor.

The Edinburgh International Festival is hunting for a "family of sponsors" to back its flagship Fireworks Concert after BoS parent company Lloyds ended the sponsorship deal from 2011.

The annual concert, where the Scottish Chamber Orchestra (SCO) is accompanied by a huge fireworks display from Edinburgh Castle, has become the highest-profile event in the Edinburgh festivals' calendar.

As the closing event of the International Festival, it is a dramatic finish for the city's summer jamboree.

The concert has had two title sponsors in its 28-year history, Glenlivet and Bank of Scotland.

BoS said it was "fully committed" to supporting the 2010 Fireworks Concert. But the move will leave the festival scrambling for funding from 2011 in a harsh economic climate.

Lisa Stephenson, head of sponsorship at Lloyds, said: "We are proud to have helped the Fireworks Concert grow and develop into the spectacular finale to the Edinburgh International Festival it is today. However, we feel the time is now right for someone new to come on board."

Roy McEwan, managing director of the SCO, said the hunt for a new sponsor has already begun. "Conversations with interested parties are under way regarding the unique opportunities offered through association with this exceptional event - not only for a title sponsor but also for smaller businesses to benefit from involvement," he said.

The festival director, Jonathan Mills, said it was looking for "new partners large and small".

Asked if the festival could guarantee the event's future, whether or not sponsors can be recruited, a spokeswoman said it was "too early to speculate".

But the event has a lot to offer a potential backer. Close to a quarter of a million people watch the concert within Edinburgh, it is estimated, while it is broadcast live on Radio Forth.

Images of the orchestra performing under the castle are carried worldwide.

There are 14,000 tickets for Princes Street Gardens of which 2,000 are in the Ross Theatre.That could in theory raise an income of 175,000 though sponsors typically assign tickets for public giveaways, competitions and corporate hospitality.

But persuading a sponsor to match the BoS deal is a formidable challenge. With arts organisations in England told to prepare for 25 per cent cuts, spending on the arts in Scotland is likely to come under heavy pressure in 2011 and 2012.