Royal Shakespeare Company to receive government Culture Recovery Fund repayable finance
Photo credit: RSC
The RSC has been granted a loan of £19.4 million by the government’s Culture Recovery Fund to help secure the immediate future of the company amidst the ongoing impact of the Covid-19 pandemic.
The RSC has been unable to stage full productions since March 2020, resulting in an expected loss of 86% income outside the RSC’s Arts Council England (ACE) grant, a loss of approximately £46 million for the current financial year. Throughout the crisis the RSC has used its reserves and ACE grant to support the Company’s activity, alongside fundraising income from trust funders, donors and partners as well as donations from audiences, Members and Patrons as part of the Keep Your RSC campaign. The RSC also furloughed up to 90% of its staff, benefitting from the Government Coronavirus Job Retention Scheme, and is reaching the end of a formal consultation with staff on redundancies and changes to terms and conditions.
Since the temporary closure of the RSC’s theatres in March, the Company has retained 35 freelance actors and stage managers at the heart of its work, continued to support young people and teachers with its far-reaching education activity, celebrated the power of Shakespeare through initiatives such as #shareyourShakespeare, staged free outdoor Summer performances in its Stratford-upon-Avon gardens, talked Shakespeare online with RSC alumni and audiences, and streamed productions for free on iPlayer.
As the Company’s programme of work expands, the RSC will be able to engage significant numbers of freelance actors, musicians and creative team members alongside the RSC’s permanent workforce.
Artistic Director Gregory Doran and Executive Director Catherine Mallyon said: “We are relieved to receive news that the RSC will receive Culture Recovery Fund repayable finance following our application, and thank the government, through DCMS, for their significant backing. It has been reassuring to see the thousands of companies around the country receiving crucial grants over recent weeks. They are the lifeblood of communities, support the local economy and enable strong health and well-being of our towns and cities.
“The finance will help the RSC to recover, and in the medium-term reopen our Swan and The Other Place theatres which will remain closed in 2021. All our activity will increase the work available to our essential freelance workforce, which in turn supports the wider arts and culture industry.
“We will re-open our theatres, and we will welcome people back to our buildings for full performances and for meeting together in our cafe’s, shop, restaurant and exhibitions, providing enormous enjoyment, supporting the regrowth of our local and national economy, and representing the UK on the world stage. We can’t wait for that time to come.”
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