Barclays and Live Nation Suspend Festival Sponsorship Amid Artist Boycotts
Barclays and Live Nation have decided to suspend their sponsorship agreement for the events group’s festivals in 2024 following a wave of artist boycotts over the bank’s involvement.
Boycotts Impact Download, Latitude, and Isle of Wight Festivals
The Download, Latitude, and Isle of Wight festivals have been hit hard by the boycotts, as acts and fans express criticism of Barclays’ business relationships with companies supplying arms to Israel.
Artists Take a Stand
Comedians Joanne McNally, Sophie Duker, Grace Campbell, and Alexandra Haddow, along with musical acts CMAT, Pillow Queens, Mui Zyu, and Georgia Ruth, have all announced they will not be participating in the festivals.
Similarly, bands Pest Control, Ithaca, Scowl, Speed, and Zulu have confirmed their withdrawal from the Download festival.
Activists Pressure Barclays
The decision to suspend sponsorship came after activists targeted Barclays for its ties to companies supplying weapons to Israel, leading to a demand for a boycott by the Palestine Solidarity Campaign.
The group Palestine Action also took action by targeting 20 bank branches with paint and rocks, while the Boycott, Divestment, and Sanctions movement labeled Barclays as a “divestment and exclusion” target.
Barclays Responds
A spokesperson for Barclays stated that the bank has agreed to suspend participation in the remaining Live Nation festivals in 2024, emphasizing their commitment to the defense sector.
However, protest group Bands Boycott Barclays hailed the decision as a victory for the global BDS movement, calling on Barclays to divest from companies involved in the conflict or face further boycotts.
Artist Voices
Leeds-based band Pest Control and Ithaca expressed their solidarity with the boycott, stating their refusal to compromise their principles for personal gain.
Comedian McNally and Duker also stood firm in their decision to withdraw from the festivals sponsored by Barclays, citing their objection to the bank’s involvement.
Barclays Clarifies its Position
Barclays defended its investments in defense companies supplying Israel, stating that they trade in shares based on client demand and are not direct investors in these companies.
The bank also clarified its relationship with Israeli defense company Elbit, explaining that they may hold shares in relation to client transactions but are not considered investors.
Barclays had signed a five-year sponsorship deal with Live Nation in 2023, and while the suspension affects the 2024 festivals, there is no indication yet of its impact on future sponsorship under the agreement.