Australian Ballet Posts $4.7M Loss Amid Theatre Renovations
In 2025, the Australian Ballet reported an operating loss of $4.7 million, an improvement from the $6 million deficit recorded in 2024. This financial shortfall stems from challenging economic conditions and the $1.7 billion Melbourne Arts Precinct Transformation project, which necessitated moving performances to the Regent Theatre in 2024, resulting in fewer shows and reduced premium seating options. Revenue from the Southbank car park fell to $1.9 million in 2025, down from $3.4 million the previous year, while box office earnings increased to $32.7 million. The organization utilized $9 million from reserves and secured $13.6 million through philanthropy. The 2025 season featured works by Neumeier, McAllister, and MacMillan, totaling 264 performances that attracted over 260,000 attendees. The Ian Potter State Theatre is anticipated to reopen in October 2026.
Key facts
- Operating loss of $4.7 million in 2025, improved from $6 million loss in 2024.
- Loss attributed to economic conditions and $1.7 billion Melbourne Arts Precinct Transformation project.
- Relocation from State Theatre to Regent Theatre since 2024 reduced shows and premium seats.
- Box office revenue grew to $32.7 million in 2025 from $31.3 million in 2024.
- Car park and rental income fell to $1.9 million in 2025 from $3.4 million in 2024.
- $9 million drawn from reserves and $13.6 million from philanthropic arm.
- Government grants of $9.1 million (14% of income) and donations of $14.1 million.
- Ian Potter State Theatre to reopen in October 2026.
Entities
Artists
- John Neumeier
- David McAllister
- Kenneth MacMillan
- Jerome Robbins
- Stephanie Lake
- William Forsythe
Institutions
- The Australian Ballet
- Orchestra Victoria
- Melbourne Arts Precinct Transformation
- State Theatre
- Regent Theatre
- Ian Potter State Theatre
- Australian Ballet Centre
Locations
- Melbourne
- Australia
- Southbank
- Tokyo
- Japan