Exclusive: A.R.T./NY Shares Findings on Space and Real Estate in HEALTH + WEALTH Report
The report highlights struggles and successes for off-Broadway theatre companies.
By: Team BWW Jun. 02, 2025
In early May, A.R.T./NY released a first-of-its-kind research publication about the state of the New York City theatre field, called Health + Wealth, Empowering Theatremakers Through Data. This is the third in a series of features from Talia Corren and Risa Shoup, A.R.T./NY’s Co-Executive Directors, highlighting key themes from the report. Read the first and second articles in the series for the topline takeaways.
Be sure to read the full Health + Wealth report for a dose of courage and big ideas about the future of the theater field.
Dear Friends,
Our Health + Wealth report was produced to provide evidence about the needs, opportunities, and challenges of our theater community. We envision our community catalyzing new approaches and reinventing the ways we work, to realize a radical transformation of existing structures and systems that will bring us the field we deserve.
Access to space is a key consideration for theatremakers whose work is reliant on bringing artists and audiences together in space. For decades, A.R.T./NY has been a provider of subsidized rehearsal, office, and performance spaces, so we are deeply familiar with the logistical and economic challenges of sustaining spaces in New York, and we are tapped into the needs of itinerant theatremakers. The data supported many of our frontline observations, revealing vivid contrasts in how access to space has impacted the financial health of companies over the post-COVID period.
You’ll get a taste of our findings below. Please dive into the Space & Real Estate chapter of Health + Wealth to learn more about the data and an exciting innovation in making better use of existing theatre spaces.
If something here resonates or surprises, we would love to connect with you about it.
Yours in solidarity,
Talia & Risa
P.S.
Check back next week to explore our chapter on Community-Specific Missions & Audiences.
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About the data Our survey explored the financial well-being of non-profit theatrical organizations in New York City change between 2019 and 2023. Our partners at SMU DataArts analyzed the data from different angles, looking for trends based on budget size, whether a company rented or owned space, and the kind of community it served. We also explored programming trends. We gathered data about the years 2019, 2022, and 2023. This allowed us to compare one pre-pandemic year with two years into the recovery and post-pandemic Period. We did not gather data from the pandemic period itself, given challenges in reporting and other operational disruptions. The full report delves into the methodology. |
SPACE & REAL ESTATE
In our third chapter, we explore how access to space has been a pivotal factor in the financial health of organizations coming out of the pandemic period. While those companies that own or hold long-term leases were doubly impacted by the loss of ticket and rental income during the pandemic, our data shows these organizations quickly recovering in the period between 2022 and 2023. As a group, these companies had benefitted from access to the Shuttered Venue Operators Grant, receiving relief funds unavailable to companies without their own venues. They subsequently increased their earned revenue, likely through venue rentals in the post-COVID period.
Small and mid-sized organizations in our survey are less likely to have dedicated spaces than organizations with larger budgets. The data shows that these organizations have struggled to keep up with inflation and changes in audience behavior.
Companies that own/long-term lease:
- Saw their revenue rise by 12% overall between 2019 and 2023.
- Cut costs by 4% over the same period.
Companies that rely on short-term rentals:
- Saw their revenue decline by 28% between 2019 and 2023.
- Cut full-time staff by 26%, making it harder to recover revenue losses and sustain operations.
The numbers in the narrative above are adjusted for inflation, in order to reflect how different kinds of organizations experienced the strain of inflation over this period. Chapter one of Health + Wealth explores other aspects of financial health across the theatre field.
While we have seen contrasting stories in the recent financial health of organizations based on their access to real estate, today’s challenges impact organizations of all kinds: rising costs, drops in government support, and overall economic uncertainty are creating an ever-stronger imperative for multi-year, sustained general operating support for theatre companies.
We must also innovate and break down structural barriers, building spaces anew and expanding access to existing spaces for equitable access by theatremakers. Companies that hold space can uplift the whole field by piloting new approaches to venue use, and public and private grantmakers can unlock more space for theatre through actions ranging from small funding policy changes to big, visionary initiatives.
Read chapter three of Health + Wealth to take up our call to action for tackling the space challenge, and be sure to explore our case study on RE/VENUE, a new model for creating production opportunities during dark periods in NYC-based theatres.
Contact us to join in this effort. Email Talia or email Risa.
We’ll be back next week with highlights from findings on organizations with community-specific missions.
This project was made possible through lead funding from the Booth Ferris Foundation and was undertaken in partnership with Skeleton Key Strategies and SMU DataArts, the National Center for Arts Research.
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