Financial Troubles Hit New York City Opera; Company Must Raise $7 Million by Month's End to Continue Current Season
In the midst of budget troubles, the famed New York City Opera may cancel the remainder of its current season, as well as the its planned 2014-15 productions, if the company is unable to raise $20 million by the end of 2013, execs have confirmed to The New York Times.
"The company's been living on The Edge and hand-to-mouth for a number of years, and we've gotten through our own share of financial troubles," George Steel, the City Opera's general manager and artistic director, recently told The Times. "We've had balanced budgets for the last two years, and we've been doing, I think, incredible work onstage. But we can't forge ahead without a significant infusion of capital."
Next week's American premiere of ANNA NICOLE is set to go on - but Steel confirms to The Times that the upcoming productions of ENDIMIONE, BLUE BEARD'S CASTLE, and MARRIAGE OF FIGARO will be canceled if City Opera can't come up with $7 million by September 30.
"Without a significant investment of money, the Company cannot confidently move ahead into the future as it must: stable, growing, and producing the kind of opera for which NYC Opera has become revered around the world," Steel said today in a statement. "New York City Opera is a vital part of the City and the Nation's artistic life. We are hoping donors from all over will rally to carry this glorious cultural treasure forward."