Royal Opera House posts 12% box office revenue increase
Record audience numbers and box office receipts boosted the Royal Opera House’s income by 12% to £125.7 million, its annual report reveals.
The Covent Garden venue – home to the Royal Opera and Royal Ballet companies – saw its total audience swell to more than 1.5 million, with 774,000 theatregoers seeing productions in the main house, Linbury Studio and associated spaces, and a further 747,000 watching broadcasts in more than 400 cinemas around the world in the year to the end of August 2014.
Double-digit increases in income from ticket sales – which grew 19% to £44.2 million – and fundraising (a 10% lift to £26.5 million) accounted for more than half (56%) of all earnings.
Funding of £29 million from Arts Council England saw its contribution to overall income decreasing 1% to 23% of the total.
Increased activity saw expenditure growing by more than 8% to £124.4 million, with spending on productions, education and outreach projects of £77.9 million enjoying a boost of just under 10%.
The venue’s twin companies presented 26 new productions (11 of which were new commissions) during the year, with 543 performances playing to a near-capacity audience of 97%.
Chief executive Alex Beard said the results demonstrated “significant progress” but warned of continuing pressures in “managing resources sustainably in a hugely challenging financial environment”.
He added: “We managed to balance the books, attract a near capacity audience, further grow our fundraising, and develop a long-term vision and sustainable plan for the years ahead.”
We need your help…
When you subscribe to The Stage, you’re investing in our journalism. And our journalism is invested in supporting theatre and the performing arts.
The Stage is a family business, operated by the same family since we were founded in 1880. We do not receive government funding. We are not owned by a large corporation. Our editorial is not dictated by ticket sales.
We are fully independent, but this means we rely on revenue from readers to survive.
Help us continue to report on great work across the UK, champion new talent and keep up our investigative journalism that holds the powerful to account. Your subscription helps ensure our journalism can continue.