Despite pessimistic predictions about its financial future, Zurich’s opera is back in the black, making a profit of SFr148,000 ($95,000) in the past financial year.This content was published on December 8, 1999 - 14:55
Despite pessimistic predictions about its financial future, Zurich’s opera is back in the black, making a profit of SFr148,000 ($95,000) in the past financial year.
The management, presenting the results of the 1998/99 season, said on Wednesday that the profit was largely due to more arts and culture subsidies and increased sponsorship contracts.
While the opera had originally budgeted a massive deficit for the past year, government subsidies went up slightly to total SFr57 million ($37 million), helping to turn things around for one of Switzerland’s most prestigious cultural institutions.
Sponsoring increased by SFr2.4 million ($1.5 million) for a total of SFr9.2 million ($5.8 million) over the same period.
The management says the Zurich opera is one of the most cost-effective and best-managed in Europe. For the 1999/2000 season, the opera has scheduled 13 new opera and ballet productions – a number it says marks an international record.
The main focus this season will be on works by Giuseppe Verdi, Wolfgang Amadeus Mozart, Alban Berg and Johann Strauss.
From staff and wire reports.
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