Economic Environment of American Symphony Orchestras
STANFORD GRADUATE SCHOOL OF BUSINESS—Most major symphony orchestras in the United States regularly spend more money than they take in, and some dip so far into endowments that they risk their long-term survival, according to a new report commissioned by the Andrew W. Mellon Foundation.
“The industry should realize that there is an inherent long-term economic challenge,” said Robert J. Flanagan, the Konosuke Matsushita Professor of International Labor Economics and Policy Analysis at the Stanford Graduate School of Business and the study’s author. “Nowadays, even if symphonies filled their halls for every concert, the vast majority would still not be able to cover their performance expenses.”
To learn more, check out the recent report to the Andrew W. Mellon Foundation: The Economic Environment of American Symphony Orchestras .
