Barclays suspends sponsorship of Live Nation festivals due to protests

The decision underscores Barclays’ investments in defense companies that supply Israel.

Photo credit: Bestival – Facebook

Barclaysthe banking company, has decided to end its sponsorship of all Live Nation Festivals in the UK for 2024. This move follows growing protests against the bank’s business relations with Israel.

Bands boycott Barclaysa protest group, first shared the news on Instagram last week. They hailed it as a significant victory for the Boycott, Divestment, Sanctions (BDS) Movement. In 2023 Barclays had agreed on a five-year sponsorship with Live Nation.

The protest group’s contribution highlighted Barclays’ The twin strategies of funding Palestinian events and promoting Israel’s brand at British music festivals have been thwarted by musicians, demonstrating the strength of unity, collective action and global commitment to the liberation of Palestine.

Accordingly The guard, Barclays is withdrawing from more than 30 festivals this year, including Creamfields, BestivalAnd Isle of Wight. This decision comes after 137 artists The great escape Festival last month because of its connection with Barclays.

The bank has been criticised for its ongoing investments in defence companies that supply weapons to Israel. These investments amount to over £2 billion in shares and £6.1 billion in loans to nine defence companies. The ongoing conflict in Gaza has resulted in an estimated death toll of around 37,000 since October 7.

Despite the discontinuation of sponsorship Barclays remains dedicated to defense companies. The bank confirmed that customers with tickets for the remaining 2024 Live Nation Festival visitors are not affected and their tickets remain valid. They stressed the importance of the defense sector for the security of the country and its allies.

For more details, see the full article by Bands boycott Barclays below.