New report on Chicago performing arts is devastating. All text below is from a Chicago Tribune editorial.
https://www.chicagotribune.com/opinion/editorials/ct-editorial-chicago-performing-arts-report-revenue-subscribers-donors-20231002-mbulem6wyvebjo7a5j7inuvzqm-story.html
"A new report released Monday afternoon by the city of Chicago’s Department of Cultural Affairs and Special Events makes for some grim reading for those who love the performing arts in Chicago. None of this comes as a surprise to us, but the report puts some hard numbers on what we’ve been seeing.
According to the report, which relies on statistics developed by Southern Methodist University’s DataArts research group, dwindling audiences are now a huge problem for local arts organizations. “From 2019 to 2022,” the report says, “Chicago performing arts organizations and museums in the study saw 26% and 29% ... declines in the number of subscribers and members, respectively.”
For Chicago’s justly beloved theaters, the drop over four years in the number of subscribers averaged an eye-popping 39%, which is partly a result of the old-fashioned nature of subscription selling at a time of variable pricing and when people don’t like to make decisions far in advance.
Overall attendance is down a sobering 59% for Chicago’s performing arts. Last year, earned revenue was 46% lower than in 2019. And, as a result of emergency belt-tightening, Chicago theaters had 44% fewer full-time staff and 47% fewer part-time staff last year compared with 2019. That’s a lot of lost jobs, if the report is accurate.
But it’s not just about the number of subscribers or members; it’s also about how much revenue these customers are creating, or rather not creating, for the organization. Across all arts sectors in Chicago, the report notes, revenue dropped a stunning 61% in that four years. For Chicago theaters, it was 65%. That means subscribers and members, even those who are hanging on, now are paying much less. You don’t need an MBA to see that these numbers are not sustainable in the long term."
Updated On: 10/3/23 at 11:50 PM