Op_ra de Montr_al Shrinks Deficit

Classic Arts News   Op_ra de Montr_al Shrinks Deficit
 
The Op_ra de Montr_al has ended its 2006-07 fiscal year with a deficit reduced by 65% and its largest surplus ever recorded, the company reports in a statement released this week.

Amid talks of folding after Bernard Labadie resigned as artistic director in June 2006, the company faced a C$2 million deficit and considered canceling its 2006-07 season, which it had already cut by one production. OdM launched a two-year recovery plan and in April, announced a "clean bill of health."

The deficit's drop to under C$700,000 is due to the scaled-down 2006-2007 season, a 50% cut in permanent staff, increased corporate and ongoing government funding, and a C$760,000 rise in ticket sales, which constitute half of OdM's total revenue.

Also of note was a jump in 18-to-30-year-old subscribers by nearly a third compared to the 2005-06 season.

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