Budget surplus for Australia’s Sydney Symphony Orchestra

Posted on: May 11, 2017

“Following the Melbourne Symphony Orchestra’s announcement last week of a 2016 surplus, the Sydney Symphony Orchestra has announced a surplus of $785,984 for 2016,” reports Justine Nguyen in Thursday’s (5/11) Limelight (Australia). “Like the MSO, the SSO reported significant financial losses in its 2015 annual report, with a shortfall of $896,811.… According to SSO Managing Director Rory Jeffes, the 2016 surplus can be attributed to a growth in performance profitability, as well as a substantial bequest that has offset continued cost pressures.” Jeffes stated: “Ticket income for the year increased from 2015 by 21% to $21,859,428 across the range of our performance activities, with a particularly strong result in the commercial programming segment. The SSO has continued to see strong growth in philanthropic support which in 2016 included a significant bequest left to the organisation by a long-term SSO subscriber, to whom we are very grateful. Sponsorship remained steady in the period, accounting for $1.73m of total revenue. The Company is now a $44.8m business of which government funding represents 32 per cent, as compared to 37 per cent the previous year.” David Robertson is the orchestra’s music director.

Posted May 11, 2017