CULTURE

Culture is an excellent investment

16 September, 2019

The investment in culture is linked above all to the company's reputation, protects against market risks and increases consideration by customers and consumers (Il Sole 24 Ore).

More than a provocation, it is now a mantra that we have been repeating for some time: "With culture you eat, but above all culture nourishes". We repeat it because we are convinced that professionalism and planning cannot be supported by sporadic investments and often left to the commitment of volunteers.

What for us is a professional philosophy is also demonstrated in the article published by Il Sole 24 ore which reported the data from the research "Investing in culture", with a study presented at Umbria Jazz in Perugia by Rsm-Makno for Impresa Cultura Italia-Confcommercio on entrepreneurs who responded to the impact of 14 cultural events. The analysis examined 14 events dedicated to films in 2018 and highlighted how every euro spent in the management of a cultural event generates positive economic effects for over two and a half euros.

In the pictures: Elisabetta Cozzi at the Brand Festival in Jesi participated with the speech "With culture you eat ... but above all it feeds". On the right, the Ciceroni students during the FAI Spring Days: the Museum was among 1100 assets that can be visited in Italy.

The article, of which we propose some interesting excerpts (but you can read them in full here), underlines the resumption of investment in culture:

After the sharp slowdown in the first half of the decade in which companies, due to the crisis, proceeded to a general reorganization of costs, also cutting expenses for this type of investment, the recovery is now evident. In fact, 36% of companies declare that they have resumed investing in culture in the last three years and only 9% have interrupted them. Among the companies, occasional interventions prevail, even if a third of them are focusing on more structured interventions, investing in only one project/event per year. The investment, therefore, is targeted and monitored in its implementation and execution.
Among the main motivations that push companies to invest in culture are the return on image (19%) and the consideration that the investment is part of the company's marketing strategy (13%). For small and medium sized companies, the tradition (17%) is also important, so that the commitment to culture is now part of the company's DNA and is an element that distinguishes it in the territory (over 11%).

"Culture is for society, what memory is for individuals." Marco Aime

For 51% of companies,investment in culture is a long-termstrategic intervention and, therefore, an integral part of the company's marketing strategies. A further 23% state that they are working to achieve this goal. More than 70% of companies therefore consider this form of investment strategic. For 26% of companies, for the same amount of investment made, the investment in culture gives a return at least equal to that obtained with the expenses made in traditional advertising and/or marketing communication activities and for 10% the return is even higher. The fact that investment in culture is now the main lever of corporate marketing strategies is also confirmed by the fact that for 41% of companies, intervention in support of culture is in turn the subject of a dedicated communication and for 53% also of general marketing communication actions.

Finally, in addition to the intangible returns, the economic effects: every euro spent in the management of a cultural event generates economic spin-offs on the territory for over 2.5 euros. The business survey was carried out on a statistically representative sample of small, medium and large enterprises from different sectors on the national territory. The events analysed were attended by about 205 thousand spectators with an average stay in the various locations of just over four days and an average daily expenditure of about 122 euros each for thepurchase of goods (drinks, restaurant, shopping in general, craft products, food and wine, etc.) and services (accommodation, parking, transport, etc.), for a total of almost 93.7 million euros. These events were also attended by 5,760 accredited spectators(press, critics, trade operators) with an average daily expenditure of €600 for a total of €3.4 million. The organisation of cultural events also involves expenses (e.g. in communication, management, prizes, hospitality) which in our case are quantified at €4.8 million.

CULTURE + TOURISM = INDUCED

According to data from the City of Milan, in August there were 536,293 arrivals in the city for a +8.4% compared to 2018 (494,608). A growth that is also recorded in the urban area of the capital with 733,111 arrivals, or +6.9% on August of a year ago (685,816). Among tourists, singles (over 270,000) between 31 and 45 years old and families, with a stay of up to 10 days, prevail.
"These new data indicate the growing ability of our city to attract visitors even in the hottest months, during which tourists usually choose seaside or mountain destinations - says the Milanese Councillor for Tourism, Roberta Guaineri - This is an excellent result that is the result of a well-dosed mix of cultural, artistic and entertainment offerings. It must be said that Milan in the summer months is also a reference and starting point for those who decide to visit our mountains, lakes and the beauty of our territory"... and Museums, we add.