Sunday, November 09, 2008
Oregon Shakepeare Festival Runs Deficit Despite Record Season
Stage-directions: "Despite record attendance and ticket sales for the 2008 season, changes in the nation's economy and investment market have resulted in a projected deficit of $700,000 for the Oregon Shakespeare Festival. Reserves will be able to cover the loss this season."
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5 comments:
The recession has effected most walks of society and culture, and unfortunately contributions to the arts are one of the first things to go. In response it is logical to cut production values, but the problem with this is that entertainment industry has consistently improved production value and now it is expected. We just have to make benign changes to avoid alienating the audience and sponsors until the economy and arts contributions pick up.
Ok.. so they are being hit a bit hard, but not because the general public is afraid of the economy, but because they operate partially off of an endowment which crashed with the market. But a bigger question can be asked: they can cover a $700,000 debt with out flinching. How are they doing that???? Hmmmmm....
even though they are in debt, i think maybe the reason why they aren't flinching is that they know that the amount of people in the seats most likely won't change. because, like this article states, they had a record breaking year and thousands of people in their seats.
I think that the company needs to try and maintain its audience. If they acn manage that when the economy gets better the donations will come back and they can recover from this regression.
It's really sad that in economic trouble, the arts are the first to suffer. Even though they're filling seats, arts are probably low on the list of potential patrons as they try to recoup their own losses. They just have to keep trying and keep creating beautiful productions; it always gets better.
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