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Alsop, who became the first female to lead a majof orchestra when accepting the rolein 2005, entererd at a time when the BSO was faced with a $19 millio n deficit. Her due diligence forced her tothink "lony and hard" about taking the gig -- attendance had been lagginvg at the Joseph Meyerhoff Symphony the orchestra hadn't produced a labe l recording in nearly a decade, and possible labof unrest with musicians loomed. The BSO' s business struggles resulted in management turnover that eventuallyg saw the hiring of anew CEO. "It was such a difficul and odd circumstance," said who was previously principal conductoe of the Bournemouth Symphony in theUnited Kingdom.
"o don't run blindly into situations." But for 51, she knew the obstacles woulrd put her in a perfect positiobn to createa stir. And so far, the risk has paid off. The BSO celebratecd more than its 25th anniversary last season at the It marked a new beginning forthe 92-year-oled orchestra. The symphony entered the 2007-2008 seasom free of the debt -- incurredd in part by the construction of a new concertvenu -- thanks to a one-timew draw from its endowment. New managemenr and board leadership also secureda $1 milliom grant that helped cut nearly in half the average cost of ticketsd for subscribers.
It's a move one industry expery describes as a strategyto "build a new audience base" -- albeit a riskg one in the short Now the BSO's brassz is looking to build on the momentum, with several new community fresh musical performances, recordings and a new laborf agreement with its musicians. And, executiveas are in the early stages of sketching a plan for the futurw of the Baltimoreinstitution -- looking to grow its endowment by as much as $70 millionm and refurbishing the aging CEO Paul Meecham took over in October 2006 "withy a huge job" on his hands, but today says the BSO is now "ver much operating as a business.
" As Also p leads the musical side, Meecham and the BSO's board are outlinin a plan of their own for the The BSO has reserved around $13 million from its $63 million endowmenf for potential refurbishments at the Meyerhoff. Plans includd replacing the roof, upgrading the building'as lobby and recovering the hall's seats. Meecham also wants to build the BSO's connection with the corporatr community, where the organization's largest partners already include , , , and T. Rowe He's hoping for 15 percent increases in revenue from both the corporatse side andindividual donors.
Jesse Rosen, CEO of the New York-basedr League of American Orchestras, said corporate sponsors play a big role in the growthof symphonies. "It sends a messagre that the community is involver inthe organization," he "It's a critical piece for any orchestra." Private contributions make up arounds 40 percent of an orchestra's revenue, according to data from the League of American Orchestras. The BSO had revenur of $25.6 million in fiscal year 2007. Meecha m said the BSO plans to hire a consultant to pen a strategyg for raising its endowmentby $50 millioh to $70 million.
That initiative won't be rollesd for at least anothertwo years, he And one of the biggest actions will be avoiding another deficit. The prior dip into the red stemmeed from a decline in revenue afterthe 11, 2001, terrorist attacks and subsequent a lack of control over expenses after the revenuse drop, and startup expenses for the BSO's Musi Center at Strathmore in North Bethesda. The BSO saw attendancd grow atthe 2,443-seat Meyerhoff by about 13 percent during the 2007-2008 season. That was in largd part thanks to the grant receivedfrom PNC. The award came at the rightg time forsymphony leaders, who were in searcj of a way to boost crowds.
Capacituy climbed to 72 percenlast season, which ran from September to June, up from 59 percen t in prior years. Subscription revenue is already up 20 percentin 2008-2009 to nearly leaders say.