As for so many other charitable arts organisations, the practical and financial impacts of lockdown and ongoing restrictions on social distancing has caused serious disruption in every aspect of our activities as an Orchestra.
- Our performance venues at the Barbican Centre and LSO St Luke’s were closed in March 2020, meaning all scheduled concerts were cancelled until late November 2020.
- Only 15% of cancelled performance tickets were refunded as a donation.
- Many international tours and commercial engagements (representing 63% of our annual income) were cancelled.
- Significant reduction in corporate sponsorship due to cancellation of sponsored activities.
- Musician and Conductor incomes were reduced significantly due to cancelled concerts.
Despite numerous cost saving measures, financially the impact of the crisis has been significant. The LSO receives just 20% of its income from public subsidy, raises 17% through vital support and donations, and earns the rest through ticket sales, international engagements and commercial activities. Since the start of the pandemic, much of this earned income has been lost and we’ve had to draw down a substantial portion our reserves to help sustain the organisation during this time.
These reserves will run out, and despite help from the Government, the short-term relief is not a sustainable solution to secure the future of the Orchestra. To help the LSO rebuild and perform to live audiences again in the coming years and in a way that is financially secure, donations to this ambitious but vital appeal could transform the future of the Orchestra.
Please consider donating here.