The Saint Louis Symphony Orchestra completed its 2009 fiscal year on August 31, 2009. In several key areas, more encouraging progress was made:
Annual Campaign
$4.8M was raised in the Annual Campaign, which exceeds the prior year results by 1.7%. This translates to two consecutive years of growth in the Annual Campaign for a total of 8.6%, reversing three years of decline, and the highest Annual Campaign result since 2004. Combined with other contributed revenue (non-endowment) raised for operations outside the annual fund, combined contributed operating revenues totaled $8.5M, a 9.5% increase over FY08.
Financial Results
The SLSO now projects a decline in the structural operating deficit to $2.96M, a 2% reduction from FY08, building on an 11% reduction achieved in FY08. The SLSO can now claim a total reduction of 13% ($437,000) over two years, down from $3.4M in FY07. Although the SLSO reports these gaps as deficits, these are fully funded by additional contributions that are secured for the purpose of operations. The SLSO has no accumulated operational debt.
Ticket Sales
As reported at the conclusion of the concert season in June 2009, the SLSO achieved notable progress in growing ticket sales and attendance following multiple years of declining revenues and attendance. This progress includes:
15% increase in ticket revenues to $5.58M, up from $4.84M in 2008
7.8 % increase in paid attendance to 178,837, up from 165,865
Growth in ticket sales & attendance was driven largely by the launch of new products such as SLSO Presents and Casual Classics. SLSO Presents, the new, popularly-oriented series of programming, attracted nearly 21,000 attendees, more than half of whom were new to the SLSO. Five SLSO Presents concerts were sold-out or near-capacity, while seven concerts on the Wells Fargo Advisors Orchestral Series achieved similar capacity. (Although the Orchestral Series total attendance declined slightly, this was due to there being four fewer concerts in the series than in the prior year. The Orchestral Series was marked by a 4.2% increase in average per-concert attendance.)
"Despite a difficult environment in 2009, significant progress was made in key areas, including a major step forward in turning around multi-year ticket sales and attendance declines in ways that engaged many new patrons; in a second consecutive year of growth in the Annual Campaign; and through continued progress toward financial stabilization by the reduction of the structural deficit," said Fred Bronstein, SLSO President and Executive Director. "The progress in 2009 and a positive outlook for 2010 demonstrate a focus on the important objectives laid out in Building Our Business and our strategic plan developed over the last year."
In another important development of the year, in June 2009 the SLSO announced a new three-year collective bargaining agreement with its musicians more than one year in advance of the expiration of the current agreement, a significant departure from past negotiations. The agreement, which begins August 30, 2010 and extends to September 1, 2013, moves the orchestra forward in a fiscally responsible manner and adds a 43rd week to the season, providing opportunities for more performances and thus enhancing audience development efforts. The labor agreement also adds new flexibility in executing local media projects that help build the SLSO brand.
Founded in 1880, the Saint Louis Symphony Orchestra (SLSO) is the second-oldest orchestra in the country and is widely considered one of the world’s finest. In September 2005, internationally acclaimed conductor David Robertson became the 12th Music Director and second American-born conductor in the Orchestra’s history. Currently in the 130th season - the SLSO continues to strive for artistic excellence, fiscal responsibility and community connection. In addition to its regular concert performances at Powell Hall, the SLSO is an integral part of the St. Louis community, presenting more than 250 free education and community partnership programs each year. In June 2008, the SLSO launched Building Our Business which takes a proactive, two-pronged approach: build audiences and re-invigorate the SLSO brand making the SLSO and Powell Hall the place to be; and build the base for enhanced institutional commitment and donations. This is all part of a larger strategic plan adopted in May 2009 that includes new core ideology and a 10-year strategic vision focusing on artistic and institutional excellence, doubling the existing audience, and revenue growth across all key operating areas. |
