Improved financial outlook for St. Louis Symphony

Posted on: September 29, 2010

In Tuesday’s (9/28) St. Louis Business Journal, Kelsey Volkmann reports, “In fiscal 2010, the St. Louis Symphony boosted ticket sales to the most in a decade, attracted the largest total attendance since 2002 and cut its deficit to its smallest in five years in what President and CEO Fred Bronstein describes as a major turning point in the orchestra’s history. … Earned revenue for the fiscal year ending Aug. 31 totaled $8.1 million, up nearly 15 percent from fiscal 2009. Ticket sales, which account for 80 percent of earned revenue, reached nearly $6.5 million, up 16 percent from last year. Per concert attendance averaged 1,792, up 9 percent over the prior year. The symphony’s structural operating deficit was cut 11 percent to $2.6 million, the smallest since 2005, thanks to growth in ticket revenue. There is still more work to be done, said Bronstein, who wants to close the budget gap by 2019. Contributed revenue in fiscal 2010 remained flat at $8.5 million with annual campaign declines offset by sponsorships, including from Wells Fargo Advisors, and a gala—the symphony’s first in a decade.”

Posted September 29, 2010