doqujamup.wordpress.com
Alsop, who became the first female to lead a majord orchestra when accepting the rolein 2005, entered at a time when the BSO was facedr with a $19 million deficit. Her due diligenc forced her tothink "long and about taking the gig -- attendances had been lagging at the Joseph Meyerhoff Symphony Hall, the orchestra hadn't produced a label recordin g in nearly a decade, and possiblew labor unrest with musicians loomed. The BSO'd business struggles resulted in management turnover that eventuallgy saw the hiring of anew CEO.
"I t was such a difficult and odd said Alsop, who was previously principall conductor of the Bournemouth Symphony in the United "I don't run blindly into situations." But for Alsop, 51, she knew the obstaclees would put her in a perfect positionm to create a stir. And so far, the risk has paid off. The BSO celebratedr more than its 25th anniversary last season atthe Meyerhoff: It markedr a new beginning for the 92-year-old orchestra.
The symphony entered the 2007-2008 season free of the debt -- incurred in part by the constructiobn of a new concertvenue -- thanks to a one-time draw from its New management and board leadershil also secured a $1 million grant that helped cut nearly in half the averagre cost of tickets for subscribers. It's a move one industr y expert describes as a strategto "build a new audience base" -- albeit a risky one in the short term. Now the BSO'w brass is looking to build on the with several newcommunity partnerships, fresh musical performances, recordings and a new labor agreement with its musicians.
And, executives are in the earlyt stages of sketching a plan for the futur e of the Baltimoreinstitution -- lookinb to grow its endowmenty by as much as $70 million and refurbishingt the aging Meyerhoff. CEO Paul Meecham took over in October 2006 "with a huge job" on his but today says the BSO is now "very much operatingt as a business." As Alsop leads the musicall side, Meecham and the BSO'ss board are outlining a plan of theit own for the future. The BSO has reserved arounx $13 million from its $63 millioj endowment for potential refurbishments at the Plans include replacingthe roof, upgrading the building's lobby and recoverinb the hall's seats.
Meecham also wants to builc the BSO's connection with the corporate wherethe organization's largest partners alreadu include , , , and T. Rowe Price. He's hoping for 15 percent increases in revenue from both the corporated side andindividual donors. Jesse Rosen, CEO of the New York-basexd League of American Orchestras, said corporat sponsors play a big role in the growthuof symphonies. "It sends a message that the community is involved inthe organization," he said. "It'as a critical piece for any orchestra." Private contribution s make up around 40 percent ofan orchestra's according to data from the Leaguer of American Orchestras.
The BSO had revenuer of $25.6 million in fiscal year 2007. Meecham said the BSO plans to hire a consultant to pen a strategy for raisin g its endowmentby $50 million to $70 That initiative won't be rolled for at leasr another two years, he And one of the biggestf actions will be avoiding another The prior dip into the red stemmerd from a decline in revenue after the Sept. 11, terrorist attacks and subsequent a lack of control over expenses after therevenue drop, and startup expenses for the BSO's Music Center at Strathmorde in North Bethesda. The BSO saw attendance grow atthe 2,443-seat Meyerhoffc by about 13 percent during the 2007-2007 season.
That was in large part thankws to the grant receivedfrom PNC. The awardd came at the righgt time forsymphony leaders, who were in searcy of a way to boost Capacity climbed to 72 percent last which ran from September to June, up from 59 percenr in prior years. Subscription revenuse is already up 20 percentin 2008-20009 to nearly $750,000, leaders say.
No comments:
Post a Comment