Conclusions

Abstract We emphasise the importance of mapping funding sources, addressing the recent narrative of declining cultural budgets and its implications for various regions as a first research agenda. Second, we claim that the hybridisation of financing mechanisms needs to be further investigated when it comes to how different funding sources can collaborate to enhance credibility and support for the arts. Third, we discuss the valuation of cultural products, asserting that value extends beyond financial metrics and encompasses broader societal considerations. Lastly, we advocate for a rethinking of public funding models, arguing for innovative approaches that incorporate community-driven support, public–private initiatives, and co-creation to better meet the needs of a cultural workforce post-digitalisation and its hurdles with potential job displacement following technological breakthroughs. By addressing these critical issues, we seek to inspire future research and discussions on funding and financing arts and culture in the twenty-first century.