In Monday’s (4/30) Wall Street Journal, Peter Loftus writes, “The Philadelphia Orchestra has traveled the globe in its 112-year history, giving the first performance by an American orchestra in China after President Richard Nixon thawed relations between the countries in the early 1970s. … The orchestra, one of the prestigious ‘Big Five’ U.S. ensembles, filed for Chapter 11 bankruptcy protection in April 2011. … Orchestra officials now hope for an uplifting coda—they expect to exit bankruptcy in the summer following last week’s settlement with a musicians’ pension fund. The orchestra has a new labor agreement reducing minimum musician salaries by about 15% and cutting the size of the ensemble by about 10 musicians to 95. It also is close to finalizing a new lease agreement with Kimmel Center Inc., where since 2001 its home has been the 2,500-seat Verizon Hall, to reduce operating costs. Performances have continued during the proceedings, and orchestra officials say attendance is up. … ‘The Philadelphia experience is not unique,’ said Jesse Rosen, president and CEO of the League of American Orchestras, which counts about 850 orchestras in North America among its members. … Some orchestras have experimented with different business models. Mr. Rosen cited the St. Paul (Minn.) Chamber Orchestra, which saw subscription rates surge after it lowered ticket prices for certain performances several years ago.”
Posted May 1, 2012
