Detroit Symphony Posts Modest Surplus, Its Third in a Row

Classic Arts News   Detroit Symphony Posts Modest Surplus, Its Third in a Row
 
The Detroit Symphony Orchestra has achieved its third straight break-even year for operations. The audit of financial statements is not yet finalized, but internal pre-audit operating fund results show a surplus of $53,000 on the fiscal year 2006 operating budget of approximately $30 million, the orchestra announced.

A fundraising campaign totaling $12.8 million in FY 2006 helped the DSO finish in the black. The orchestra's endowment funds at the end of FY 2006 stood at $72.4 million; they are currently $74 million.

Earned revenue in 2005-06 included $9.2 million from ticket sales and approximately $900,000 in revenue generated at the Max M. Fisher Music Center from rental fees, concessions and the venue's shop.

For the first time in DSO history single tickets to classical concerts broke the $1 million mark, reaching $1.2 million. Single ticket sales records were broken for both classical and pops concerts: the DSO sold 114,914 tickets to classical concerts, with single ticket revenue up 22% and subscription revenue down 3%. The DTE Foundation Pops Series sold 59,993 tickets, 3,058 more than in 2004-05, with single revenue up 27% and subscription revenue down 2%.

Concerts that set new single ticket sales records last season included the "Ode to Joy" concerts with the DSO performing Beethoven's Symphony No. 9 with guest conductor Rafael Fr‹beck de Burgos, followed by "The Music of Star Wars" and "Home for the Holidays Pops." The top five concerts of last season also included the Silk Road Ensemble and a program featuring trumpeter Chris Botti with the DSO.

A new online ticketing system corresponded with a 20% increase in the sale of single tickets over the Internet (topping more than $1 million for the first time).

The DSO is continuing its search for a new music director following the conclusion of Neeme J‹rvi's 15-year tenure. Peter Oundjian (former first violinist of the Tokyo String Quartet and current music director of the Toronto Symphony) was appointed as principal guest conductor and artistic advisor in June and began his tenure at the beginning of the 2006-07 season.


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