Philanthropy's place in funding the arts

Funding the arts is always a contentious subject. If government funding, or corporate sponsorship dries up, the next step is towards private philanthropists. But if arts institutions are too successful raising money through philanthropy, do they risk governments reducing their grants even more? And how does a small edgy theatre company compete for private money with say the national ballet or opera companies. Kenneth Watkins is Head of philanthropy at the Australian Ballet - in the past 8 years he's raised 88-million dollars for them. He's also the author, with academic Jennifer Radbourne, of the handbook Philanthropy & Arts. Lynn Freeman spoke to Kenneth and Jennifer when they were invited to New Zealand by the Fundraising Institute of New Zealand.