Metropolitan Opera Boosts Fund Raising 50%
October 11, 2011 | Read Time: 1 minute
The Metropolitan Opera raised $182-million during its 2011 fiscal year, a 50-percent annual increase, and balanced its budget for the first time in seven years, reports The New York Times.
Some 49,100 donors contributed last year, although most of the money comes from trustees and other wealthy donors, the newspaper reported.
The results “have the air of vindication for the free-spending—and risky—strategy of Peter Gelb, the Met’s general manager,” the newspaper said.
He took over six seasons ago and was told to reverse a decline in attendance and bring in young audiences and patrons. The newspaper said he realized that the organization needed to spend money if it was to do anything serious about eliminating red ink.
