Following protests from fans and artists, the bank Barclays has pulled its sponsorship from festivals including Download, Latitude and the Isle of Wight festival.
Barclays’ ties to Israel have led to major boycotts recently as acts have pulled out of festivals because of the bank’s involvement.
It has now been announced that following these protests, Barclays will no longer be supporting some of the major UK festivals this summer.
A spokesperson from Live Nation told Metro.co.uk: ‘Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals.’
Singer, CMAT pulled out of performing at latitude because of Barclays’ affiliation with Israel. The Irish singer said on social media in May: ‘I am very sorry to announce that I am officially pulling out of playing the main stage of Latitude Festival 2024.
‘You may or may not be aware, but Latitude’s main sponsor is Barclay’s bank, who have been revealed to have increased their financing of various companies who are supplying weapons and military technology to Israel.’
‘Specifically it has invested over £100million into General Dynamics which provides gun systems to the fighter jets which are being used by Israel to bombard Gaza,’ CMAT claimed.
The singer explained that because of this she could no longer perform at a festival they were sponsoring.
The singer’s decision was paralleled at another festival sponsored by the bank.
Scowl, Zulu, Speed, Pest Control, Negative Frame and Overpower, are all acts that all pulled out of the rock festival Download in solidarity with Palestine during the war in Gaza.
Activist groups have said Live Nation’s decision to ask Barclays to step down as a sponsor is a ‘victory’.
The protest group Bands Boycott Barclays told The Guardian: ‘This is a victory for the Palestinian-led global BDS movement. As musicians, we were horrified that our music festivals were partnered with Barclays, who are complicit in the genocide in Gaza through investment, loans and underwriting of arms companies supplying the Israeli military.
‘Hundreds of artists have taken action this summer to make it clear that this is morally reprehensible, and we are glad we have been heard.
‘Our demand to Barclays is simple: divest from the genocide, or face further boycotts. Boycotting Barclays, also Europe’s primary funder of fossil fuels, is the minimum we can do to call for change.’
Jeremy Corbyn said on X: ‘UK festivals have cut ties with Barclays in what is a huge victory for the Palestinian and artist led campaign to remove the financiers of war from our cultural events. We will continue to demand all festivals stand on the side of humanity and peace.’
In a statement, Barclays said: ‘We provide vital financial services to US, UK and European public companies that supply defence products to NATO and its allies. Barclays does not directly invest in these companies.
‘The defence sector is fundamental to our national security and the UK government has been clear that supporting defence companies is compatible with ESG considerations. Decisions on the implementation of arms embargos to other nations are the job of respective elected governments.’
Earlier this week following the boycott, Barclays banks were smashed up across the UK in a coordinated attack to protest the bank.
A spokesperson for Barclays said in a statement that it was time leaders ‘stand united against this’ as they were ‘asked’ to suspend their participation in several festivals.
‘Barclays was asked and has agreed to suspend participation in the remaining Live Nation festivals in 2024.
‘Barclays customers who hold tickets to these festivals are not affected and their tickets remain valid. The protesters’ agenda is to have Barclays debank defence companies which is a sector we remain committed to as an essential part of keeping this country and our allies safe.’
‘They have resorted to intimidating our staff, repeated vandalism of our branches and online harassment. The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions.
‘It is time that leaders across politics, business, academia and the arts stand united against this.’
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