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The Pandemic Begins 2019-20 Meet Opera $ 31 Million in Black | WGN Radio 720

The Metropolitan Opera has shown a tax return that revealed it was in the black at $ 31 million during the fiscal year ending July 31, last year, but the company said the numbers were primarily future commitments. Said it was included.

The company’s tax return, released Thursday, showed a $ 13 million reduction in revenue and a $ 41 million reduction in salary for the season, including the first few months of the pandemic. The Metropolitan Museum of Art said it will operate on a balanced budget in 2019-20.

Music director Yannick Neze-Segan has taken over James Levine as music director for Mets, starting at $ 392,152 when he made two productions in the first season of the fiscal year ending July 31, 2019. , Won $ 915,571.

General manager Peter Gelb I met earned $ 1.46 million in the last fiscal year, down slightly from $ 1.49 million.

Met, the largest performing arts institution in the United States, has not been on stage since March 11, 2020 due to a pandemic. There were a total of 276 misses in the last two months of 2019-20 and the entire 2020-21 season. Performance.

The Metropolitan Museum of Art has been involved in fierce labor negotiations with three major unions, saying it needs to cut costs.

Last month, it signed a four-year contract between the choir and the American Musical Artist Guild, which represents solo artists. This month, on behalf of the stage clerk, he resumed negotiations with Local One of the International Alliance of Theatrical Film Theater Labor Union, which has been locked out since December 8. And on behalf of the orchestra, we are negotiating with the American Federation of Musicians’ local 802, which has a contract that expires on July 31st.

Revenues decreased from $ 307 million in the year ending July 31, 2019 to $ 295 million in the year ending July 31, 2019, and costs decreased from $ 313 million to $ 263 million Did.

Salaries have dropped from $ 240 million to $ 199 million.

The Metropolitan Museum of Art has listed its net worth from $ 103 million to $ 78 million. Secured fixed income and mortgages increased $ 11.5 million to $ 57 million, and other liabilities, including federal income taxes and third-party debt, increased $ 67.6 million to $ 213 million. Of that amount, $ 194 million is pension debt.

Donation funds have increased from $ 249 million to $ 264 million.

The Pandemic Begins 2019-20 Meet Opera $ 31 Million in Black | WGN Radio 720

Source link The Pandemic Begins 2019-20 Meet Opera $ 31 Million in Black | WGN Radio 720

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