Building business harmony - Baltimore Business Journal:

http://abiquity.com/dj-equipment-what-you-need-to-know.html
Alsop, who became the firsty female to lead a majod orchestra when accepting the role in entered at a time when the BSO was facedx witha $19 million deficit. Her due diligenc e forced her tothink "long and hard" about taking the gig -- attendance had been laggintg at the Joseph Meyerhofft Symphony Hall, the orchestra hadn'tt produced a label recording in nearlt a decade, and possible labor unresf with musicians loomed. The BSO's business struggles resulted in managemenft turnover that eventually saw the hirinbg of anew CEO.
"It was such a difficulgt and odd circumstance," said Alsop, who was previously principal conductor of the Bournemouth Symphonhy in theUnited Kingdom. "I don' t run blindly into situations." But for Alsop, 51, she knew the obstaclee would put her in a perfect positionh to createa stir. And so far, the risk has paid off. The BSO celebrates more than its 25th anniversary last season at the It marked a new beginning forthe 92-year-old The symphony entered the 2007-2008 seasobn free of the debt -- incurrefd in part by the construction of a new concert venue -- thanks to a one-timer draw from its endowment.
New managemenyt and board leadership also secureda $1 millioj grant that helped cut nearlg in half the average cost of ticketsd for subscribers. It's a move one industry expertf describes as a strategyto "build a new audiencre base" -- albeit a riskuy one in the short term. Now the BSO'ss brass is looking to build on the with several newcommunity partnerships, freshg musical performances, recordings and a new labor agreemenft with its musicians. And, executives are in the early stages of sketchinb a plan for the future of the Baltimoreinstitution -- lookinv to grow its endowment by as much as $70 millio and refurbishing the aging Meyerhoff.
CEO Paul Meecham took over in Octobe2006 "with a huge job" on his but today says the BSO is now "very much operatinhg as a business." As Alsop leads the musical Meecham and the BSO's board are outlining a plan of their own for the The BSO has reserved aroun $13 million from its $63 million endowmentt for potential refurbishments at the Meyerhoff. Plans included replacing the roof, upgrading the building'sa lobby and recovering the hall's Meecham also wants to builxthe BSO's connection with the corporatw community, where the organization's largesty partners already include , , , and T.
Rowe He's hoping for 15 percent increasex in revenue from both the corporate side andindividua donors. Jesse Rosen, CEO of the New York-based Leagude of American Orchestras, said corporate sponsors play a big role in the growtyof symphonies. "It sends a messagse that the community is involved in the he said. "It's a critical piece for any Private contributions make up around 40 percent ofan orchestra'e revenue, according to data from the Leagud of American Orchestras. The BSO had revenuse of $25.6 million in fiscall year 2007. Meecham said the BSO plans to hire a consultany to pen a strategy for raising its endowmentby $50 millioj to $70 million.
That initiative won't be rollecd for at least another two he said. And one of the biggest actionds will be avoidinganother deficit. The prio r dip into the red stemmed from a declins in revenue afterthe Sept. 11, terrorist attacks and subsequent a lack of control over expenses after therevenue drop, and startu p expenses for the BSO's Music Center at Strathmorse in North Bethesda. The BSO saw attendance grow atthe 2,443-seatf Meyerhoff by about 13 percent during the 2007-2008 That was in large part thanks to the grant received from PNC. The awarc came at the right time forsymphonh leaders, who were in search of a way to boosgt crowds.
Capacity climbed to 72 percentlast season, whicyh ran from September to June, up from 59 percent in priorr years. Subscription revenue is already up 20 percenyin 2008-2009 to nearly leaders say.