The decision underscores Barclays’ investments in arms firms supplying Israel.
Photo Credit: Bestival – Facebook
Barclays, the banking entity, has decided to suspend its sponsorship of all Live Nation festivals in the UK for 2024. This move follows increased protests against the bank’s business ties with Israel.
Bands Boycott Barclays, a 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 to a five-year sponsorship with Live Nation.
The protest group’s post highlighted Barclays’ dual strategy of funding Palestine events and promoting its brand at UK music festivals has been disrupted by musicians. This shows the strength of unity, collective action, and the global commitment to Palestinian liberation.
According to The Guardian, Barclays is withdrawing its sponsorship from more than 30 festivals this year, such as Creamfields, Bestival, and Isle of Wight. This decision comes after 137 artists left The Great Escape festival last month because of its association with Barclays.
The bank has been criticized for its continued investments in arms companies that supply weapons to Israel. These investments total over £2 billion in shares and £6.1 billion in loans across nine arms companies. The ongoing conflict in Gaza has led to an estimated death toll of around 37,000 since October 7th.
Despite suspending its sponsorship, Barclays remains dedicated to defense firms. The bank confirmed that customers with tickets to the remaining 2024 Live Nation festivals will not be affected, as their tickets remain valid. They stressed the importance of the defense sector for the safety of the country and its allies.
For further details, refer to the complete post from Bands Boycott Barclays below.
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