Just in: Met posts $1 million surplus, breathes againmain
Peter Gelb has announced a $1 million surplus for last year at the Metropolitan Opera, despite low audience figures.
Increased ticket prices made up for a fall in ticket sales from 76 to 74 percent. Budget trims of $18 million did the rest.
The results reverse a $22 million deficit for the previous year.
Key Gelb quotes from the WSJ:
– ‘One of the advantages of having such a large budget, we shaved a little bit here and a little bit there, and those little bits added up.’
– ‘We sold more single tickets, but we are losing subscribers.’