Sydney Theatre Company Reports $10 Million Revenue Boost from International Success of DORIAN GRAY
The company’s Broadway and West End royalties and tours contributed to a major revenue increase in 2024.
The Guardian reports that Sydney Theatre Company (STC) has reported a $10 million increase in revenue for 2024, driven in part by the international success of its stage adaptation of The Picture of Dorian Gray. The production, directed by Kip Williams and starring Sarah Snook, is currently running on Broadway through June 29th.
STC chief executive Anne Dunn confirmed that the Dorian Gray production contributed to the company’s revenue growth, along with six other touring productions staged outside Sydney during the year.
According to the company’s 2024 annual report, released Thursday, STC’s total gross revenue from local performances, tours, licensing, and royalties reached $37.7 million. This marked an increase of $10 million over 2023 results.
More than 77,000 people attended the West End run of The Picture of Dorian Gray in London, which earned Laurence Olivier Awards for Best Actress (Snook) and Best Costume Design. The show’s Broadway run recently added to its accolades with Snook winning her first Tony Award.
STC did not disclose exact earnings from Dorian Gray in its annual report but noted that the company retains a small investment stake in the production. This stake, valued just under $500,000, was initially funded by STC donors in 2023.
Dunn stated that an additional agreement with commercial producer Michael Cassel Group was finalized earlier this year, though the nature of STC’s current stake in the Broadway production remains confidential.
Despite the strong revenue increase, STC remains in deficit, with a shortfall of $566,000, reduced from $1.8 million the previous year.
The company’s philanthropic contributions totaled $4.86 million in 2024, down from $5.9 million in 2023. Dunn noted that competition for philanthropic support remains high.
Overall, subscription and ticket sales increased from 228,847 in 2023 to 239,951 in 2024, countering speculation that the protest had a lasting negative effect on audience numbers.
The company will announce its 2026 season on September 15.
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