The Fulcrum Five | 2026.07.24
Tate Modern viewed from Thames Pleasure Boat. Photo: Wikimedia Commons
The Fulcrum Five | 2026.07.24
📍Five observations. One bigger picture.
We all want to champion culture, and we all know it cannot exist for free. Yet money remains one of the most uncomfortable subjects to talk about in the cultural sector.
As I looked back at my headlines of the week, I realised they were all asking the same question: who gets to shape culture? Whether it's executive pay, public funding, regional investment, the art market or the rise of new cultural centres, the answer increasingly comes down to who controls the money, and who has access.
1️⃣ New Leader, Old Debate
The appointment of Jessica Morgan as Tate's new director dominated arts headlines this week. What caught my attention wasn't the appointment itself, but the revelation that she reportedly took a significant pay cut from her previous role as director of Dia Art Foundation—where US tax filings showed compensation of over US$814,000 (over £600,000)—to lead Britain's largest museum group. Her predecessor Maria Balshaw reportedly earned £220,000–£225,000 ($293,000 to $300,000).
The disclosure inevitably reignited debates about museum directors' salaries. The huge gap between executive pay and frontline workers has increasingly widened, especially amid the rise of the cost of living. A curator's wages can be just a fraction of their bosses' pay. Last year, more than 150 Tate staff went on strike over pay. Similar actions also occurred in America in recent years. In Hong Kong, executive salaries at the financially struggling West Kowloon Cultural District Authority have also come under public scrutiny.
But are cultural leaders paid too much? Emotionally, my instinct is to say yes—I come from another profession where frontline workers are notoriously underpaid (that's another story). But objectively, if we believe culture is essential public infrastructure, then world-class leadership should deserve an attractive remuneration package, provided that they can deliver what they promised.
The wages gap between top tier management and frontline staffers is the real structural problem. A sector that cannot offer sustainable careers risks becoming one that only the independently wealthy can afford to enter.
The right question isn't about how much we pay cultural leaders, but how to find money to pay everyone else.
2️⃣ Can Culture Stay Politically Neutral?
Public funding bankrolls much of the cultural sector around the world. But as domestic politics and geopolitical tensions intensify, public money is increasingly coming with strings attached.
This week, the European Commission confirmed to pull €2 million in funding from the Venice Biennale over the return of Russia's pavilion, prompting the Biennale to challenge the decision. Meanwhile, others have questioned why similar action wasn't taken over Israeli's participation.
To me, this story isn't about Russia or Israel. It illustrates a broader reality: cultural institutions rarely operate independently of those who fund them. Governments, philanthropists, private donors and corporations all shape cultural priorities—sometimes directly, sometimes indirectly.
We've long liked to think of museums and biennials as politically neutral spaces. Earlier this month, the International Council of Museums (ICOM) stated in its revamped code of ethics that "Income-generating activities should not compromise the integrity of the institution. Museums should resist financial or political influence".
Yet the reality is often more complicated. When funding can influence institutional decisions, neutrality begins to look less like a permanent condition than an ongoing negotiation.
Who controls the funding increasingly shapes the narrative.
3️⃣ Can Britain Really Decentralise Culture?
Prime Minister Andy Burnham's launch of No.10 North signals an ambitious attempt to rebalance political and economic power away from London. If that vision succeeds, it could also reshape where cultural investment flows, building on initiatives such as the government's £130 million Arts Everywhere Fund and long-standing calls to close the North's cultural funding gap.
But decentralisation isn't just about moving government departments or distributing grants. It also means making culture genuinely accessible.
A return train ticket between London and Manchester can easily cost more than £100 if you are unable to make your purchase weeks in advance. Add a £20-plus exhibition ticket—say, to see Ai Weiwei's latest show in Manchester—along with food and other travel costs, and a day trip can quickly become as expensive as a short holiday in Europe.
If Britain wants a truly national cultural ecosystem, investment must be matched by affordability. Culture shouldn't be easier—or cheaper—to experience abroad than elsewhere in your own country.
4️⃣ Big Bucks at Auction—But Will It Trickle Down?
Last week, I wrote about how auction houses continue to post healthy results, suggesting that capital remains abundant at the very top of the art market. Elsewhere, however, the picture looks rather different.
Frieze Sculpture has announced just 11 artists for its 2026 edition. Out of curiosity, I looked back at previous editions and, excluding the cancelled pandemic year, this appears to be the smallest line-up on record—almost half the historical average. It remains unclear whether more artists will be announced, but if this is the final list, it inevitably raises questions about the economics of staging large-scale outdoor sculpture today.
The timing is notable. This week, my former colleague Tim Schneider published an excellent report arguing that the gallery sector is undergoing a structural reset rather than simply riding out another market cycle. His analysis suggests galleries are rethinking everything from real estate and pricing to expansion plans as the business model that fuelled decades of growth becomes increasingly difficult to sustain.
Money hasn't disappeared from the art world. It's becoming more concentrated. The bigger question is where it's flowing—and who is being left behind.
5️⃣ Southeast Asia's Cultural Moment
While museums in Europe and North America grapple with funding pressures and political scrutiny, Southeast Asia continues to build. It's a region I've long argued deserves closer attention—not only because of its growing art market, but because of its investment in cultural infrastructure and increasingly confident dialogue within the region itself.
One of the latest examples is Muara Arts, a new not-for-profit institution dedicated to Southeast Asian modern and contemporary art, which will open in Kuala Lumpur on 1 November. Established by the Creador Foundation, it has appointed Lydia Yee, former chief curator of London's Whitechapel Gallery, as its inaugural artistic director. As the first institution of its kind in Malaysia, it aims to become a major platform for the region's artists and histories, while strengthening connections across Southeast Asia and beyond.
The announcement follows another significant development: Hobart's acclaimed Museum of Old and New Art (MONA) has unveiled plans for its first international outpost in Bangkok. Developed in partnership with Thailand's Asset World Corporation, MONA Bangkok will be a purpose-built museum on the Chao Phraya River, reinterpreting the institution's unconventional approach for a Southeast Asian audience rather than replicating its Tasmanian home.
Having visited MONA in Hobart, I must say it remains one of the most unforgettable museum experiences I've had. David Walsh's museum didn't just transform Tasmania's cultural reputation—it reshaped its economy, proving that ambitious cultural institutions can redefine a city's global identity. Its expansion to Bangkok is therefore more than an Australian success story. It signals Bangkok's emergence as one of Asia's most dynamic cultural capitals, following recent additions such as Dib Bangkok and Kunsthalle Bangkok.
Meanwhile, Singapore Art Museum's chief curator Shabbir Hussain Mustafa has been named artistic director of Aichi Triennale 2028. This is a major appointment following that of Singaporean artist Ho Tzu-Nyen, who is serving the artistic director of this year's Gwangju Biennale. This small and wealthy city-state may not have an abundant number of museums, but its talent has gradually been claiming a spot on the global art stage.
Taken together, these announcements point to a broader shift. A new generation of patrons, foundations and cultural entrepreneurs is investing in infrastructure that look beyond national borders and towards regional collaboration. Southeast Asia isn't simply catching up—it's increasingly helping shape the future cultural map of Asia and beyond.