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April 22, 2008

Arts Groups Feel Economic Woes

Arts institutions are starting to experience the effects of the ailing economy, reports the Associated Press.

Museums, symphony halls, dance companies, and other arts groups are feeling the impact of spiking interest rates on municipal bonds and low returns on investments. Plus many groups fear that the sagging economy will lead to a drop in ticket sales and donations.

“We’re being extra careful and conservative in our budget for next year,” said Christopher Clinton Conway of the Joffrey Ballet, in Chicago.

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