Orch sells 15% more tickets, still loses money

The Indiannapolis Orchestra reports reported a 15 percent rise in ticket sales, its fourth consecutive increase and an all time high.

However…  the ISO ended the year with a $561,000 deficit, due largely to a 78 percent increase in medical claims expense and inclement weather during the Marsh Symphony on the Prairie season, two factors out of its control.

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press release:

The ISO’s 2015-2016 Financial Summary, ending Aug. 31, 2016

  • Total operating income from FY16 was $25.25 million, an increase of 6.2 percent over last year; however, the ISO ended the year with a $561,000 deficit, due largely to a 78 percent increase in medical claims expense and inclement weather during the Marsh Symphony on the Prairie season, two factors out of its control.
  • Ticket sales reached $8.49 million, an all-time record for the ISO, and were 15 percent over FY15 sales.
  • Overall attendance for the year totaled 275,923 people.
  • The ISO sold the most student tickets in a fiscal year ever, at 9,392, up by 4 percent over FY15 and double the number of total student tickets sold in FY13.
  • Season subscription ticket sales increased 1 percent over FY15.
  • IPL Yuletide Celebration achieved record-setting sales, with 98.82 percent paid attendance.
  • The ISO raised $9.3 million in annual fund contributions, surpassing the total raised in FY15.
  • The ISO also received a one-time $10 million grant from Lilly Endowment, Inc., the bulk of which was earmarked to fund the musicians’ defined benefit pension plan.

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  • “increase in medical claims expense and inclement weather … two factors out of its control”

    Really? Indiana voted overwhelmingly Trump, who vows to dismantle Obama Care and tear up the Paris Agreement, which means even greater medical costs and more inclement weather to come; oh, I’d say these two factors are well within “its control”.

    Or else hire only young healthy musicians who don’t need health insurance and refuse to contribute to it, and then fire them when they fall ill, the good ol’ capitalist way.

    • Waaaaaaaaaaah!

      I’d like my insurance premium to go down since it’s increased about 250% under “Obamacare”. Would you please write a check to the IRS to cover the difference….NOW?

  • Turnover of £20m a year and still struggling, Bournemouth Symphony a not dissimilar orchestra turnover is a third of that.

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