The Memphis Symphony Orchestra (Tennessee, USA) announced that it is facing a financial crisis that will require « aggressive steps on both the expense and revenue side ». The organization’s once-robust reserves have been depleted as declining economic conditions and a shift in how fans consume classical music have sapped the orchestra’s financial health. While a recent generous donation assures that the current season can be brought to the planned end the Symphony is taking steps to address the future of the organization. The irritating sentence in the press release is the following one: « The current season will be the final season of the Memphis Symphony in its current configuration. » Could this mean that the orchestra could be wound down?
« We look at other communities who have faced the same or similar challenges we are now facing – financial uncertainty, lower ticket sales, changing trends in how people consume music, » says Memphis Symphony Orchestra President and CEO Roland Valliere. « But orchestras in some of these communities have regrouped, rebuilt and re-Iaunched classical music in ways that are both sustainable and meet the unique needs of their communities. We believe that Memphis can do this, as well. » Affaire à suivre.
