Carnegie Hall projects $9M deficit, expects cuts next season
Carnegie Hall is projecting a $9 million operating deficit on its $104 million budget after cancelling the rest of its season because of the coronavirus pandemic and anticipates making changes to its schedule for 2020-21.
“We’ve obviously sold a lot of tickets for next season, but there’ll be issues like are people from the very beginning going to all come straight back to concerts or will people be a little bit more cautious about large gatherings?” executive director Clive Gillinson said Thursday. “We have no idea what the psychology is going to be around this in every way across society as a whole.”
Gillinson said this will be the first deficit since he joined Carnegie Hall in 2005. The budget was slashed 20% in 2007-08 because of the Great Recession.
Carnegie has cancelled all events in its auditoriums through July 25, roughly 30% of this season’s schedule. It has just under 400 full-time employees plus part-time staff and teaching artists. It has not decided whether layoffs will be needed.