Lyric Opera of Chicago Finishes Season with Budget Surplus

Classic Arts News   Lyric Opera of Chicago Finishes Season with Budget Surplus
The Lyric Opera of Chicago has finished the 2005-06 season in the black, the company announced, with a budget surplus of approximately $140,000 and 95 percent of tickets sold.

William Mason, general director of the Lyric, announced the preliminary estimates at the company's annual meeting yesterday, saying the 83 performances of the company's 51st season sold 277,000 tickets and generated box-office revenues of $27.2 million. He also said fundraising efforts exceeded the Lyric's $15.6 million goal. One event, a wine auction, netted more than $1 million.

The Lyric has avoided going into the red for 18 of the past 19 years, although in 2002-03 the company posted a $1.1 million deficit. The budget for 2006-07, set at $50.2 million, has increased slightly from the 2005-06 budget of $49.2 million. The new fundraising goal is $15.6 million.

The 2005-06 season included Bizet's Carmen, Rossini's La Cenerentola, and new productions of Puccini's Manon Lescaut, Gluck's Orfeo ed Euridice and Tippett's The Midsummer Marriage. The LOC's 2006-07 season opens on September 16 with David Hockney's production of Puccini's Turandot, with Andrew Davis leading a cast including Andrea Gruber and Patricia Racette.

During the meeting yesterday the board of directors elected Richard P. Kiphart to serve as Lyric's new president and CEO. Kiphart has been an active member of Lyric's board of directors since 1999.

It wasn't all budget talk however; attendees of the meeting were serenaded by baritone Nathan Gunn, who will appear in Lyric's Cos‹ fan tutte next season.

Recommended Reading: