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LONDON: Barclays and Live Nation have suspended a sponsorship agreement for the events group’s festivals for 2024 after a number of artists announced they would be boycotting them over the bank’s involvement.

Download, Latitude, and the Isle of Wight festivals are among those worst affected by the boycotts, with acts and fans critical of Barclays’ business relationships with companies supplying arms to Israel.

Comedians Joanne McNally, Sophie Duker, Grace Campbell and Alexandra Haddow said they would not be attending Latitude, as well as musical acts CMAT, Pillow Queens, Mui Zyu and Georgia Ruth.

The bands Pest Control, Ithaca, Scowl, Speed and Zulu all confirmed they would pull out of Download.

It follows a mass boycotting by more than 100 acts of the Barclaycard-sponsored Great Escape festival in Brighton in May.

“Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals,” a Live Nation spokesperson said.

It came after activists targeted Barclays earlier in the week, with the UK-based Palestine Solidarity Campaign demanding a boycott over the bank’s “complicity in Israel’s attacks on Palestinians.”

PSC also claimed that Barclays “now holds over £2 billion ($2.536 billion) in shares, and provides £6.1 billion in loans and underwriting” to companies selling weapons to Israel.

The group Palestine Action targeted 20 bank branches with paint and rocks earlier this week, while the Boycott, Divestment and Sanctions movement has labeled it a “divestment and exclusion” target.

A spokesperson for the bank said in a statement: “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.”

The protest group Bands Boycott Barclays said in a statement: “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.”

Leeds-based band Pest Control said in a statement: “We cannot sacrifice the principles held by this band and by the scene we come from and represent, just for personal gain.”

Ithaca said in a statement: “Once we were made aware of Barclays’ involvement in Download we knew we could no longer participate. This moment of solidarity is an opportunity for festival organisers to reflect carefully on who they take money from and see that the younger generation of bands will no longer be silent.”

Comedian McNally wrote in an Instagram post last week: “I’m getting messages today about me performing at Latitude when it’s being sponsored by Barclays.

“I’m no longer doing Latitude. I was due to close the comedy tent on the Sunday night, but I pulled out last week.”

Fellow comedian Duker said in a statement: “I am committed to minimising my complicity in what I consider to be a pattern of abhorrent, unlawful violence.”

On its website, Barclays said: “We have been asked why we invest in nine defence companies supplying Israel, but this mistakes what we do.

“We trade in shares of listed companies in response to client instruction or demand and that may result in us holding shares. 
“Whilst we provide financial services to these companies, we are not making investments for Barclays and Barclays is not a ‘shareholder’ or ‘investor’ in that sense in relation to these companies.”

In relation to its dealings with Israeli defense company Elbit, Barclays said: “We may hold shares in relation to client driven transactions, which is why we appear on the share register, but we are not investors.”

Barclays signed a sponsorship deal with Live Nation for five years in 2023. There has been no suggestion yet that the suspension will affect festival sponsorship under the agreement in future years.