The Canadian Opera Company’s Annual report is out. You can find it here. It not unreasonably lauds the COC’s considerable artistic achievements over the last year as well as its extensive and commendable outreach activities. It also contains, albeit in no great detail, the financials. Now, as a former management consultant, I know that’s the one bit of an Annual Report that’s hard to spin though most CFOs will try. Being the analyst that I am I ran a few numbers and the results were a bit disturbing. It was obvious that the financial position had deteriorated though the extent only revealed itself when I looked back to 2009/10 as a comparator. Here are a few statistics comparing 2011/12 with 2009/10.
- Capacity (i.e. seats to be sold): up 7% (this is approximate and calculated from ticket sales and reported capacity figures)
- Seats sold: down 8%
- Average price per seat sold: down 10% (From $97.97 to $87.86; which seems quite low really)
- Leading to a drop in ticket revenue of 18%








