San Francisco Opera Faces Rising Costs as Ticket Sales Cover Only 14% of Budget
The recent strike by the San Francisco Opera Orchestra has raised concerns about the financial viability of opera companies across America. The San Francisco Opera (SFO) boasts a $300 million endowment, the highest in the nation, thanks to the efforts of former director David Gockley and current director Matthew Shilvock. Meanwhile, the Metropolitan Opera has seen its endowment decrease from $327 million to $188.3 million, prompting a $1.5 billion fundraising initiative. SFO's budget has surged from $11 million in 1980 to nearly $90 million today, although the number of performances has dropped from 70-75 to 45-48, resulting in a cost of $2 million per performance. Ticket revenue accounts for only 14% of the budget, and subscriber numbers have fallen from 165,000 in 1980 to 80,000 in 2022.
Key facts
- San Francisco Opera's endowment is $300 million, the largest among American opera companies.
- The Metropolitan Opera's endowment has decreased from $327 million to $188.3 million in four years.
- The Met has launched a $1.5 billion fundraising effort, securing about $400 million in pledges.
- SFO's operating budget grew from $11 million in 1980 to nearly $90 million today.
- Ticket sales now cover only 14% of SFO's budget, down from 58.7% in 1980.
- The number of performances per season has dropped from 70-75 to 45-48, raising cost per performance from $1 million to $2 million.
- Subscribers have declined from 165,000 in 1980 to 80,000 in 2022.
- Jensen and Lori Huang have committed $5 million annually to SFO for several years.
Entities
Artists
- Thea Musgrave
- David Gockley
- Matthew Shilvock
- Heidi Waleson
- Gaetano Merola
- Claudia Muzio
- Janos Gereben
- Jensen Huang
- Lori Huang
- William Coughran
Institutions
- San Francisco Opera
- San Francisco Opera Orchestra
- Metropolitan Opera
- New York City Opera
- San Francisco Classical Voice
- ProPublica Nonprofit Explorer
- Nvidia
- Kennedy Center
Locations
- San Francisco
- United States
- Los Angeles
- Sacramento
- New York City
- Bay Area
- Germany