The Toronto Symphony Orchestra presented their annual general report last Monday and it showed the previous season operations leaves the TSO short to the tune of $1 million dollars. This deficit is largely due to a star-studded birthday celebration for the symphony’s 90th anniversary.
60% of ticket sales are from subscribers while most of the empty seats are being bought 24 hours prior to an event. Andrew Shaw, president and CEO of the TSO told the Toronto Star,
“We see change going on here when people are purchasing their tickets. This is the internet generation. They tweet, text and make up their minds 24 hours before the concert.”
One million seems like pocket change to raise in the metropolis of Toronto. In wartimes the film industry did well; No matter how bad things got, people wanted to spend on an escape. Has that mentality changed? Is the economy bad enough to make the value of art as escape go down? As far as ticket sales, maybe the TSO should find a way to attract more subscribers or be more vocal online to make those last-minute buyers eager to purchase tickets early. It could be a case of overspending and it’s time to reduce operating costs.
It almost seems too easy to find seven figures for the band. It will be interesting to see how they play this deficit score.
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