Ulster Bank writes one more cheque

THE DAYS of banks sponsoring anything are almost gone, and yesterday brought the news that 2011 will be the final year in which the Ulster Bank will be the title sponsor of the Dublin Theatre Festival.

According to the festival’s artistic director, Loughlin Deegan, he’s “happy and relieved” that Ulster Bank will be involved for a fifth year at a time when it was by no means guaranteed.

The first three years of the bank’s sponsorship was worth €1 million, with it being responsible for a tenth of the festival’s total income as recently as 2009.

“For any type of sponsor there’s a limited lifespan and it’s never assumed that it will continue indefinitely,” says Deegan. “But we’d consider the five years to have been very successful and the question was whether or not they would continue at all this year.”

The early announcement also gives the festival an “18-month window” in which to find a new title sponsor and Ulster Bank will be involved in that process, facilitating meetings and also endorsing the sponsorship. It’s indicative of what has been seen as a successful partnership, but which will end with the final date of this year’s festival on October 16th.

Deegan has travelled to Santiago, New York and – soon – Perth, to find for shows for this year’s festival. Meanwhile, the search is on for a new sponsor at a time when the festival – in common with other events – has already had to adapt its fun draising approach in an environment when corporate spending is no longer what it was.