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| Musician CMAT was among several artists who pulled out of Latitude |
Barclays has suspended its sponsorship of all music festivals staged by promoter Live Nation in 2024, including Download, Latitude and the Isle of Wight.
The move comes after several acts pulled out of the events in protest at the bank's investment links to arms companies that trade with Israel.
Artists including country singer CMAT, metal band Ithaca and comedian Joanne McNally all withdrew from planned slots this summer.
A spokesperson for Live Nation said: "Following discussion with artists, we have agreed with Barclays that they will step back from sponsorship of our festivals."
The bank signed a five-year sponsorship deal with Live Nation in 2023. It is understood that the suspension does not apply to the full term of the contract.
Mercury-nominated band Lankum, who are on the line-up for Suffolk's Latitude festival in July, were among the first to respond to the announcement.
"We welcome the news," they said on Instagram.
"Since the beginning of the campaign there has been great collective effort from a number of bands, artists and fans to get to this point.
"Standing together is the best foot forward."
Ticketholders unaffected
The development comes after more than 100 artists boycotted Brighton's Great Escape Festival in May over the event's ties to Barclays.
Campaigners have accused the bank of increasing its investment in arms companies that trade with Israel, amid the ongoing war in Gaza.
A spokesperson for Barclays told the BBC: "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."
They added that the protests had led to intimidation of staff and vandalism of their branches.
"The only thing that this small group of activists will achieve is to weaken essential support for cultural events enjoyed by millions," they added.
"It is time that leaders across politics, business, academia and the arts stand united against this."