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March 14, 2008

Boston Ballet Shows Signs of Financial Distress

After two years of surpluses, the Boston Ballet showed signs of distress on Thursday when officials said that its main company would reduce the number of dancers next year and that its executive director would not return next season, reports The New York Times.

The Boston Ballet took a financial hit in 2004 when it lost access to the Wang Theater where it had performed “The Nutcracker” annually. Departing executive director Valerie Wilder estimates that the cut cost the company about $1.5-million a year in lost revenue.

Despite the challenges of the Wang Theater loss, the ballet ran a surplus over the past two years under Ms. Wilder’s leadership. She oversaw a three-year fund-raising campaign that yielded $35-million for the company as well as the group’s first million-dollar donations.

She said that her resignation was unrelated to the cutbacks. “I had it in my mind that this was the right amount of time,” she said. “I feel really good about what I’ve accomplished.”

Mikko Nissinen, the artistic director of the ballet, said that despite past surpluses, rising costs meant the company would have to reduce the number of dancers from 50 to 41.

“It was a necessity right now,” he said, but added that he hoped the company would return to full strength after two years.

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