The Metropolitan Opera in (bad) numbersmain
Peter Gelb has been putting on a brave face today on his accounts for the Wall Street Journal but the annual numbers you need to know are the ones he’s playing down.
Percentage of seats sold last season: 72
Percentage of box-office potential: 66
Met budget: $300m
Funds raised from donors: $140 million (down from $150m)
Total endowment: $255 million (down from $266m)
Unfunded pension obligations: $88.2 million
Achievement: Avoided deficit (phew, that was close)
Full article here.