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Thursday, September 3, 2009

Ride out economic storm says report

>> by Naomi Brand
Canada's Performing Arts Alliance released its report last week entitled Our Fiscal Performance, which summarizes the findings of its survey conducted in May 2009. The report examines the financial impact of the current economic downturn on orchestras, operas, theatres and dance companies. While the survey found that 51% of performing arts organizations were forecasting that they would break even or have a surplus this year, 47% report that the forecast is worse than they originally budgeted. As a result, organizations were taking such steps as reducing or freezing salaries (52%), reducing travel (37%) and reducing the number of productions/programs (27%). Eighty-nine performing arts organizations from across Canada participated in the survey. Three follow-up surveys are planned over the next year to track trends and changes to come.
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