{"id":82020,"date":"2022-09-30T09:43:49","date_gmt":"2022-09-30T13:43:49","guid":{"rendered":"https:\/\/www.ludwig-van.com\/toronto\/?p=82020"},"modified":"2022-09-30T10:05:23","modified_gmt":"2022-09-30T14:05:23","slug":"scoop-toronto-symphony-orchestra-ends-difficult-season-deficit-free","status":"publish","type":"post","link":"https:\/\/www.ludwig-van.com\/toronto\/2022\/09\/30\/scoop-toronto-symphony-orchestra-ends-difficult-season-deficit-free\/","title":{"rendered":"THE SCOOP | Toronto Symphony Ends A Difficult Season Deficit-Free"},"content":{"rendered":"
\"The
The TSO’s Maestro’s Special Homecoming concert (Photo: Jag Gundu)<\/figcaption><\/figure>\n

The Toronto Symphony Orchestra has released the reports from its Annual General Meeting, held on September 29, 2022. Among the highlights was the elimination of a deficit that accumulated over four decades.<\/p>\n

The TSO recorded an accumulated surplus \u2014 the orchestra\u2019s first since 1979 \u2014 of $781K.<\/p>\n

Details<\/strong><\/h3>\n

The story of financial responsibility is also one of making choices. One of the upsides to the pandemic is that the funds allocated for cancelled productions could be utilized in other areas, including paying down debt. Other details emerge from the numbers.<\/p>\n

Ticket sales took a heavy hit from COVID shutdowns, including the first half of the 2021-2022 season, which recorded one of the lowest ticket sales in the orchestra\u2019s recent history. The season didn\u2019t begin until November, and then only to limited capacity audiences, leading to another two-month closure at the beginning of 2022.<\/p>\n

During her report, Board Chair Catherine Beck<\/strong> acknowledged the uncertainties of the last season.<\/p>\n

\u201cFor all the challenges we faced and opportunities we created over the past 100 years,\u201d explained Ms. Beck, \u201cnothing compares to the context in which our musicians and staff performed last season, and I am confident in saying that the experience of hearing live symphonic music in a concert hall has never been as vital and uplifting to our audiences as it was in 2021\/22.\u201d<\/p>\n

A look at subscriptions and tickets sales vs production expenses, comparing financial statements going back a few years, charts both rising production costs and the toll of COVID shutdowns:<\/p>\n