In Tuesday’s (5/15) Chicago Tribune, John von Rhein writes, “Lyric Opera of Chicago continues to ride above the economic turbulence that is buffeting so many of the nation’s other not-for-profit performing arts organizations. … The company exceeded its fundraising goal for fiscal 2012 and also scored impressive gains in ticket revenue, contributions and ticket sales that spoke to opera’s central importance in the classical music life of the area—weak economy or not. Despite an aggressive marketing and branding campaign, Lyric suffered a slight drop in the percentage of seating capacity sold for the season—from 91 percent in 2010-11 to 88 percent in the eight-opera season that concluded March 25 in the 3,500-seat Civic Opera House. … The company was forced to draw approximately $3.8 million from its reserve funds to break even for the fiscal year. Lyric had tapped into its Campaign for Excellence Fund to the tune of $4.3 million in fiscal 2011, and $2.7 million the previous year, to balance its books. All three were planned withdrawals. … Ticket revenue for the season was reported to be $25 million, $1.3 million higher than for the 2010-11 season. Lyric also raised more than $21.1 million in contributions, $3 million more than in the previous season.”
Posted May 16, 2012
