‘Picture of misery': Opera Australia posts $10 million loss as audiences hit a cliff
Opera Australia has plunged deeper into financial crisis, posting a $10 million operating deficit as chair Rod Sims defended its worst results since the pandemic.
Australia's largest performing arts company was forced to draw down on its emergency capital fund to offset its losses after its Sydney winter season and its much-hyped run of Sunset Boulevard failed to meet box office forecasts.
Melbourne performances of the Andrew Lloyd Webber musical last year were blighted by poor reviews, unsold seats and long absences by its lead, Sarah Brightman, due to injury.
In addition, OA blamed the closure of the company's State Theatre home in Melbourne and the need to perform in other venues for the hit to its bottom line.
The results, branded a disaster privately by some long-term supporters who have been agitating for board changes, ratchet pressure on the board headed by Sims to reverse its fortunes as it approaches its 70th anniversary year in 2026.
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They land as OA has yet to fill the key roles of artistic director Jo Davies and chief executive Fiona Allen, who resigned in quick succession of each other.
The board is also digesting the findings of an independent review critical of OA's culture, morale and workplace structure which has been undertaken by veteran corporate adviser, Gabrielle Trainor.
OA's box office revenue sank to $50.7 million in 2024, down from $65.7 million the previous year, according to its annual report.
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