General Director Anthony Freud announced some good financial news for Lyric Opera of Chicago on Monday: the company broke even in FY 2014.
Lyric has operated in the black for 26 of the past 27 years, a record among the country's not-for-profit music and performing arts companies. Many opera companies in America would, no doubt, love to post the enviable financial results that Lyric continues to deliver year after year.
Lyric's ticket revenue is $28.8 million for fiscal year 2014--up significantly from $26.6 million the previous year. Both subscription and individual-ticket sales increased, with a total of 284,440 tickets being sold--an 8% increase over the previous season.
Of that total, 71,074 tickets were sold for The Sound of Music, making it the top-selling production in Lyric history.
Fundraising results were also excellent: Lyric will surpass its $23.6 million annual fundraising campaign goal for the year.
During Lyric's annual meeting on Monday, Freud said "opera companies everywhere are facing new realities and challenges in the 21st century. Lyric's strategic plan addresses those issues through proactive steps to recapitalize the company's balance sheet, expand the company's audience base, generate more ticket revenue, and reach larger and more diverse publics through programming and community engagement."
Freud also said that "opera companies must become more relevant in their communities and reach out to new audiences in new ways. Integral to ensuring a vibrant future for Lyric Opera is Lyric's expanded activity through its Lyric Unlimited and American Musical Theater initiatives."
Next season, Lyric Unlimited will present three intriguing new commissions at outreach locations throughout the Chicago area.
The Property, a klezmer opera by Polish composer Wlad Marhulets and librettist Stephanie Fleischmann, tells the story of Regina Segal and her granddaughter Mica, who travel to modern Warsaw to try to regain family property lost during World War II. The story is adapted from the acclaimed graphic novel by Rutu Modan. The Property will receive its premiere in February 2015 at the University of Chicago Logan Center for the Arts, with additional performances scheduled for the North Shore Center for the Performing Arts in Skokie.
El Pasado Nunca Se Termina, a mariachi opera by composer Jose "Pepe" Martínez and librettist Leonard Foglia, is set on a hacienda on the eve of the Mexican Revolution. The opera describes the fortunes of two families--one indigenous and one European--whose lives become deeply entwined. El Pasado will be presented at venues in Pilsen and Waukegan, in addition to its world premiere at the Civic Opera House in March 2015.
Lyric Unlimited has also commissioned a children's opera, Second Nature, from young American composer and conductor Matthew Aucoin. Geared for children ages 8 to 12, Second Nature will premiere at Chicago's Lincoln Park Zoo in August 2015, the perfect setting for a story focused on the relationship between humans and nature.
Soprano Renée Fleming, Lyric's creative consultant, was responsible for introducing Aucoin to the opera company.
"Ever since I began working with Lyric as creative consultant, it's been a goal to help opera come alive in different parts of the city," Fleming said. "It's rewarding to see that come to fruition through these exciting new projects. I've also been thrilled to introduce young talent like composer Matthew Aucoin to Lyric Unlimited, so that we can cultivate the next generation of creative artists."
More information about Lyric Opera's 2014-15 season is available at at lyricopera.org.
