Short answer ： No.
Simple explanation: Developed country simply treat arts and sports as the same category of any pure science project. Policies are enacted to encourage participants in such fields (with education, scholarship, grants), this also involves encouragement to privates sector to contribute their share, e.g. tax incentives, grants, etc.
With healthy developments, some sports/arts are able to grow and stand on its own as a new industry. Never underestimate potential and synergy that brought from such industry. For example, sports equipment is one of the main consumption for industrial composite material. Another extreme example of art application is origami, NASA engineers get the inspiration from origami to fold the satellite solar panel to fit into the rocket payload.