Arts Council England has just published the report “Measuring the economic benefits of arts and culture”.
Written by BOP Consulting, this report sets out practical guidance for any arts or cultural organization thinking about conducting research into its economic benefits. In particular, it discusses four methods of measuring the value of a cultural organization’s activities, which fall into two distinct categories: measures of spending and valuations of wider benefits. Spending-measure techniques look at actual spending by organizations, audiences, and performers, and its effects on the economy. Valuation techniques, on the other hand, try to put a price on the wider benefits people gain from culture, even in cases such as museums with free admission where no money changes hands. A series of case studies explores the relative merits of each of the four approaches.
To consult the report in question, please visit the Arts Council England website.