‘Perfect storm’ leaves WSO $1.3M in debt
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Hey there, time traveller!
This article was published 06/10/2023 (1098 days ago), so information in it may no longer be current.
The Winnipeg Symphony Orchestra is calling for government and public support after posting an “extremely concerning” financial deficit following its 75th season.
During the organization’s annual general meeting on Monday, board members announced a $1.3-million deficit for the 2022-23 season, owing to a drop in ticket revenue and the end of pandemic-era government support programs.
While the symphony managed to offset the deficit in its entirety through a reserve fund of federal rent and wage subsidies, the organization has said it’s facing a strained financial future.
MIKE SUDOMA / WINNIPEG FREE PRESS
“Rising costs and inflation (have created) a perfect storm for the WSO and many other performing arts organizations,” WSO executive director Angela Birdsell said in the release.
“(The WSO) will be challenged to break even in this fiscal year,” board treasurer Jon Kliewer said in a media release. “Management and staff are dedicated to achieving a sustainable business model over time but will need substantial increased revenues to bridge this and the next two years.”
Last season was the first year without concert interruptions or restrictions since the outset of the COVID-19 pandemic. The WSO saw 67 per cent of its pre-pandemic audience return to the Centennial Concert Hall, representing a roughly $1-million drop in ticket revenue.
Fundraising income dropped last year and government support totalling more than $2 million also dried up.
“Rising costs and inflation (have created) a perfect storm for the WSO and many other performing arts organizations,” WSO executive director Angela Birdsell said in the release.
During the provincial election campaign, the NDP promised to introduce $8 million in annual grants and capital funds for Manitoba artists, festival and performing arts organizations.
“We intend to hold the new provincial government to that promise,” Birdsell said.
Visit wso.ca to find the full 2022-23 annual report.
Eva Wasney covers environmental issues in Manitoba for The Narwhal in partnership with the Winnipeg Free Press. Read more about Eva.
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Eva Wasney covers environmental issues in Manitoba for The Narwhal in partnership with the Winnipeg Free Press. Read more about Eva.
Every piece of reporting Eva produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press‘s tradition, since 1872, of producing reliable independent journalism. Read more about Free Press’s history and mandate, and learn how our newsroom operates.
Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber.
Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
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