Barclays backtracks on Live Nation festivals sponsorship

Bank had been criticised for partnership with company promoting events where drug offences were recorded.

Barclays has ended its sponsorship of all Live Nation festivals, following criticism of the bank's partnership with a company promoting events where drug offences were recorded.

The decision comes after a report by the Home Affairs Select Committee found that there were 10 drug-related deaths at Live Nation events in England and Wales between 2015 and 2019, and that the company had been "complacent" in its response to drug use at its events.

Barclays said that it had "taken the decision to end our sponsorship of Live Nation festivals after carefully considering the findings of the Home Affairs Select Committee report".

"We take our responsibilities to our stakeholders very seriously and we believe that this decision is in the best interests of our customers, our employees and the wider community," the bank said.

Live Nation said that it was "disappointed" by Barclays' decision, but that it "respected" the bank's decision.

"We remain committed to working with the authorities and other stakeholders to reduce drug-related harm at our events," the company said.

Conclusion

Barclays' decision to end its sponsorship of Live Nation festivals is a significant step in the fight against drug-related harm at music events.

The bank's decision sends a clear message that it will not tolerate companies that are not doing enough to prevent drug use at their events.

It is hoped that Barclays' decision will lead to other companies re-evaluating their partnerships with Live Nation and other companies that promote events where drug use is a problem.