What’s up at the Met? The deficitmain
Peter Gelb has owned up to another bad year – a $22 million loss, the worst in history.
The deficit is 7% of total budget. Once before, in 1984, it was 10%. But in cash terms this year’s results are awful beyond precedent.
Ticket sales are down, donations are weak.
Gelb has not published the financial statement. He has leaked it to the New York Times.
Two questions need to be asked: has Gelb failed? Does he have what it takes to turn the Met around?
Meantime, Gelb is looking for someone to blame. He can’t blame the musicians or stage unions, since he agrred to their deal.
He could blame the public for not coming and the donors for not giving.
Who’s left to blame?
(Hint: President Obama).