Chicago Symphony reports strong results for fiscal 2013

Posted on: October 24, 2013

In Thursday’s (10/24) Chicago Tribune, John von Rhein writes that the Chicago Symphony Orchestra reported “record-breaking fundraising for a third consecutive year, along with record ticket sales, in the financial statement for fiscal year 2013 released at its annual meeting Wednesday afternoon. ‘The overall message is, we are a strong and healthy organization, both artistically and financially,’ CSO Association President Deborah F. Rutter said. Although operating revenues of $73.6 million were up more than 2 percent over the previous year, operating expenses totaled $73.8 million, resulting in an operating deficit of $169,000,” versus a $1.3 million deficit for fiscal 2012 and $927,000 for 2011. “Ticket sales for the 305 events the association presented at Symphony Center rose to $22.3 million in 2013 from the previous year’s record amount of $21.4 million. Single-ticket revenue from the CSO subscription series increased more than 15 percent over the previous year…. The value of the CSO’s endowment, which fluctuates with investment returns, rose to $257 million this year from $233 million in 2012.… The association president did report that, thanks to the Internet, the CSO performance of Verdi’s Requiem that [Music Director Riccardo] Muti conducted Oct. 10 has to date been heard by more than 80,000 people worldwide.”

Posted October 24, 2013