“Just three years after its brush with near-bankruptcy, the Nashville Symphony Orchestra is now operating in the black, thanks in large part to historic increases in both ticket sales and fundraising,” writes John Pitcher in Thursday’s (12/15) Nashville Scene. “The orchestra’s financial audit for the fiscal year 2016, released today, reveals an operating surplus of $339,000, a marked improvement over the prior year, when the orchestra suffered an operating loss of $732,000. The symphony reported that 67 percent of its revenue now comes earned income, in the form [of] ticket sales, fees and rentals…. Increases in the Nashville Symphony’s revenue stream followed the decision to expand the number of programs offered at the Schermerhorn, especially pop culture performances…. ‘I really credit the community with our turnaround,’ NSO president Alan Valentine [said]. … Highlights of the audit include: An increase in operating revenue of nearly 20 percent … annual fundraising increase of 10 percent … $1.4 million in event rentals, a $213,000 or 18 percent increase over the previous year…. $421,000 of additional revenue from two concerts at Ascend Amphitheater, part of the NSO’s contract with Live Nation [and a] decrease in debt of $650,000 or 3 percent.”
Posted December 16, 2016
Pictured: The Nashville Symphony and Music Director Giancarlo Guerrero
