NYC BALLET’S SPAC RESIDENCY CUT TO ONE WEEK IN 2013 – JULY 5, 2012 – THE SARATOGIAN

Click on link below for “NYC Ballet’s SPAC residency cut to one week in 2013.”

NYCBallet’s SPACResidencyCut-2013

Page 1. Quoted/ summed up /from the article/link above

NYCB – “ONE WEEK IN 2013” at Saratoga Springs.  NYCB – Reduced from THREE to TWO weeks in 2009 at Saratoga Springs.  That’s 3 weeks ,to 2 weeks ,to 5 days  from 2009 till 2013.

Page 2.  From the article/link above

“The orchestra and ballet are less than 10 percent of our attendance and cost over 40 percent each, of our expenses,” former SPAC Chairman Bill Dake said at this years  membership meeting in May (2012).

What is going on here?  I’ll try to break it down.

Live Nation ( + Jazz Fest + ?) now make up 90 percent of SPAC business.  NYCB and Philadelphia Orchestra  are only 10%.

As I understand it, the 90% (a surprising high number), for Live Nation was supposed to supplement and cover the expensive of  the Classical Events.

How is it that 90% of SPAC’s business (attendance) doesn’t cover the 10% (it was suppose to protect)?

What worked for 30+ years, starting in 1966,  and changed?

When  did SPAC loose /sub-contrac”Special Events” away?

Page 3.  From the article

But White (Marsha White) said SPAC gets $1 million per year from Live Nation, which underwrites classical programs.

NOTE:  Again see LIVE NATION RENT below – for  2010 and 2011.  IT’S NOT $1 MILLION but a LOT LESS.  Like $196 thousand dollars less for 2010 + 2011.

THAT’S $196 THOUSAND LESS than $2 MILLION  for the  2010 +2011 LIVE NATION CONTRACT.

That’s not the NYCB fault.  It’s not the Philadelphia Orchestra fault.

It gets worst.

$834,583 in 2011 is WELL BELOW what SPAC USE TO BE guaranteed.  In 2001, $860,000 was guaranteed.

RECAP:  Every thing has gone up since  2001; except what SPAC gets from LIVE NATION.

Again, that’s not the NYCB fault.  It’s not the Philadelphia Orchestra fault.

And yet: the NYCB and the Philadelphia Orchestra are being cut for creating red ink; the red ink use to be covered over by the “Special Events”.  Special Events were created to pay the bill.

Tell me: What’s really wrong here?

****************************************************************************************************

Under July 9 – ‘SPAC Financial Overview 2008-2011′ (this info was handed at this years annual membership meeting)

the LIVE NATION RENT listed as:

– 2008 = $1,064,383 (old contract)
– 2009 = $1,192,200 (old contract)
– 2010 = $968,904
– 2011 = $834,583

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