Cleveland turns in good numbers
OrchestrasThe Cleveland Orchestra today published its results for year ending June 30, 2024.
Both total revenues and total expenses stood at $66 million, up 7.7 percent on 2022-23.
The Orchestra’s endowment increased by $29 million (10.8 %) to $296 million, one of the largest of any US orchestra.
Nice! Maybe soon they can buy CIM and turn it around.
Impressive for an orchestra grappling with leadership voids. They have had no Concertmaster or Principal Timpanist for a while. The auditions for the latter have been interesting to say the least. As for Mr. Welser-Möst, his health issues have kept him absent, and the word is that when he does show up, his concerts have been bland—refined, perhaps, but lacking in excitement.
It doesn’t matter which instrument position is currently unfilled. It can stay that way for a long time and TCO will never, ever suck. Good management makes a difference.
never exciting / no where
We like to give credit to leaders for making things as great as they are. They often don’t make things great but we give them a lot of credit for how great things are. Sometimes they make things worse.
For more good numbers, please Cleveland come more frequently in Europe. I have never seen you.
All the more impresive for an orchestra located in a not very wealthy mid-size town
The Cleveland Orchestra’s economic impact extends far beyond music, demonstrating significant financial benefits for the region and individual investors. The Orchestra generates $135.4 million in annual sales across Northeast Ohio, creating 1,292 jobs and over $60 million in annual income.
Financial Growth
The Orchestra’s financial model is robust, with:
29% of revenue from donor contributions
32% from ticket sales and concert fees
19% from endowment draws
20% from special fundraising campaigns
Broader Economic Impact
More than just a musical institution, the Cleveland Orchestra:
Generates approximately $99.5 million in economic activity within Cuyahoga County
Helps attract talent to the region
Contributes to a vibrant local economy through performances, education, and community engagement
The Orchestra’s success mirrors broader economic trends, where strategic investments and community support have translated into substantial financial growth for both institutional and personal portfolios.