Surrendering to strain from a number of music acts and an ad-hoc motion, Barclays has suspended its sponsorship of all 2024 music festivals organized by Reside Nation within the UK.
The festivals now with out Barclays backing embrace such well-liked occasions equivalent to Obtain, Latitude, and the Isle of Wight Competition, in keeping with Enterprise Issues.
Barclay’s determination was made after a number of artists complained concerning the monetary agency’s funding ties with arms corporations that commerce with Israel.
Nation artist CMAT, metallic band Ithaca, and comic Joanne McNally pulled out of their deliberate performances this summer time.
Barclays signed a five-year sponsorship cope with Reside Nation in 2023, however Enterprise Issues reported the 2024 suspension doesn’t cowl the total period of the contract.
A Barclays boycott by greater than 100 artists happened at Brighton’s Nice Escape Competition in Could. Barclays was accused of accelerating its investments in arms corporations concerned with Israel.
A Barclays spokesperson confirmed the suspension to Enterprise Issues and warranted that clients with competition tickets wouldn’t be affected.
“Barclays was requested and has agreed to droop participation within the remaining Reside Nation festivals in 2024.” The financial institution reiterated its dedication to the protection sector as important for nationwide and ally safety, and stated there had been employees intimidation and vandalism points.
A number of bands, together with Pest Management, Pace, Scowl, Zulu, and Ithaca, withdrew from this weekend’s Obtain competition. Pest Management highlighted their refusal to sacrifice their ideas for private acquire, whereas Ithaca referred to as for competition organizers to think about extra rigorously who they settle for funding from.
The protest group Bands Boycott Barclays additionally celebrated the suspension, thanking artists for utilizing their platforms to sentence Barclays.