Metropolitan Opera Launches $1.5 Billion Campaign and Free Ticket Initiative for New Yorkers
The campaign, the largest by a nonprofit performing arts company, has secured $407 million in commitments and will expand the Met's endowment.
The Metropolitan Opera today announced an unprecedented $1.5 billion fundraising campaign to help ensure its future, while also underlining its value as one of the city's indispensable cultural institutions with a new ticketing initiative across the five boroughs that will distribute 70,000 free tickets to underserved New Yorkers over the course of this season. The Opera for All ticketing initiative, which was also announced today by Mayor Zohran Mamdani, will carry over into upcoming seasons as well.
The campaign, the largest ever launched by a not-for-profit performing arts company, will secure the Met's long-term financial future. It has already generated $407 million in commitments, including a $100 million pledged bequest and two $50 million gifts from current board leaders. Of the $1.5 billion goal, $500 million—one-third of the total—will go toward substantially expanding the Met's endowment, a critical resource for meeting the company's ongoing financial needs.
The new free-ticket initiative comes as the Met's average paid attendance stands at 75%, allowing unsold seats to be offered to New Yorkers who have not previously attended. With 3,800 seats, the Met is the world's largest opera house; the 70,000 tickets designated for Opera for All represent about 10% of the company's total seating capacity for the season. Tickets will be distributed through a secure lottery on the Met Opera app and promoted through partnerships with the city's Department of Social Services, the New York City Housing Authority, New York City Public Schools, the New York Public Library, the City University of New York, the New York City Department for the Aging, and the Situation Project.
“Throughout its storied history, the Met has culturally enriched New York,” said Peter Gelb, the Met's Maria Manetti Shrem General Manager. “With these new initiatives, we hope to further demonstrate that the Met is a vital part of life in the city.”
The $100 million pledged bequest comes from the estate of an anonymous donor. The two $50 million gifts are from the current Met President, Tod Johnson, and from the Chairman of the Met's Executive Committee, C. Graham Berwind, III.
“The Met's board is determined to sustain the Met now and into the future with this campaign, which we hope will also attract broad public support,” said Mr. Johnson.
“Our goal is to keep this indispensable artistic institution thriving,” said Mr. Berwind. “It is my sincere hope that my gift will inspire others to contribute what they can to ensure the future for one of New York's greatest cultural assets.”
With an annual operating budget of $340 million and some 3,000 employees, the Met is by far the largest performing arts company in the U.S. With the company's earned revenues accounting for only one third of its budget and its endowment currently worth a relatively small $220 million, the new fundraising campaign comes at a critical time.
Opera for All significantly expands the Met's efforts to reach new audiences. The Met also offers tickets for $25 through its popular Toll Rush Tickets program, as well as $35 tickets for students. The Met also transmits its performances into movie theaters, on PBS, online, and on the radio.
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