Melbourne Theatre Company Counts 2016 as a Strong Year for Victoria's Flagship Theatre Company
Melbourne Theatre Company released its 2016 annual report today, detailing a strong year for Victoria's flagship theatre company bringing in $28.3 million total revenue.
In 2016 MTC presented 14 productions and a total of 639 performances, resulting in $14.5 million at the box office.
The Company saw a 9% increase in paid attendance to its mainstage season and a total paid attendance of 220,350 across all productions.
MTC Executive Director Virginia Lovett said, 'The previous year had been a challenging one but in 2016 we were able to consolidate and reassess Melbourne Theatre Company's strategic direction for the future.
'No major theatre company can rely on ticket sales alone and still present world class productions, develop new work and present an artistically vibrant program.
'We needed to look at revenue diversification to be less reliant on earned income and increase contributable income to ensure ongoing growth and sustainability.
'2016 was turning point for the MTC Foundation with philanthropy revenue exceeding budget by 5%, and the Company announcing the establishment of a general endowment fund with a major gift from the Little Foundation.
'In 2013, total revenue from philanthropy was 3% of total income and in 2016 it was 9% - outstripping government subsidy contributions.
'The Company continues to look at new ways to innovate; make our revenues stretch further so we can realise our artistic vision; maintain a stable and productive workplace; and to reach our key strategic goals,' Ms Lovett said.
MTC Chair Terry Moran AC said, '2016 was a strong year for the Company. Subscriber numbers and paid attendance bounced back from 2015, confident in the artistic program; a program balanced with Australian premieres, international new works, classics and independent work.
'MTC simply could not continue to contribute to building Melbourne's cultural capital without private investment and the ongoing support of our loyal - and growing - donor base.
'This allows more artistic risks, flexible ticketing prices for the disadvantaged or youth and enables us to try new innovative practices,' Mr Moran said.
Overall, MTC ended the year with a modest operating surplus of $11,884.
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