15 Feb 2018
'Lates' events generate £10m a year for British museums and galleries
BY Tom Anstey
A new study looking at the effects of “Lates” events in the UK and overseas has discovered significant benefits, with the after-hours events generating nearly £10m (US$14m, €11.2m) in ticket revenue for British museums and galleries each year.
The research, by Culture24 with support from Arts Council England (ACE), created three linked reports looking at evening events at museums and galleries, estimating that £9.6m (US$13.5m, €10.8m) of ticket revenue was generated from 8,000 of these happenings.
According to the report, if the Lates culture were to continue to grow a predicted rate of 5 per cent year-on-year, Lates events would generate an additional £7.7m (US$10.8m, €8.7m) in the UK over the next five years. The report also says that this increased economic activity will lead to growth in venues’ food and beverage income and increased earnings for surrounding local businesses and supply chains.
“The element of theatrical experience is what marks out after-hours events (Lates) in a museum or gallery as something different to a daytime visit,” said Nick Stockman, campaigns manager at Culture24.
“Lates can potentially do for venues’ empty spaces what Airbnb’s platform does for homeowners’ spare bedrooms – create a channel by which new people can be attracted in and new income generated.
“The night-time economy contributes £66bn (US$92.8bn, €74.3bn) to the UK annually and if we can develop Lates as a distinct strand of museum practice, the museum/gallery sector can build capacity and reach untapped demand, creating new and increased income streams and attracting new people into their spaces.”
To read A Culture of Lates, which focuses on the UK market, click here.
To read An International Culture of Lates, which looks at overseas case studies and is supported by the Winston Churchill Memorial Trust, click here.
To read Late Like A Local, a report sponsored by Airbnb and looking at the role Lates play in cultural tourism, click here.
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