Opera Australia Faces Financial Crisis with $10 Million Loss Following Sunset Boulevard Failure

Opera Australia has reported a $10 million AUD (£5.2 million GBP) operating deficit for 2024, its worst financial result since the pandemic. Chair Rod Sims acknowledged the setback but said the company aims to break even in 2025 and turn a small profit in 2026.

The losses follow the poor box office performance of the company’s Sydney winter season and its high-profile production of Sunset Boulevard, starring Sarah Brightman. The show struggled with negative reviews, unsold seats, and Brightman’s absence due to injury during its Melbourne run.

Opera Australia also cited the closure of Melbourne’s State Theatre and the need to use alternative venues as contributing factors.

Sims said the company would take a more cautious approach to future musical theatre productions: “We won’t take the kind of risks we took with Sunset Boulevard again.”

The company is currently without a permanent artistic director or CEO following the departures of Jo Davies and Fiona Allen. Sims said new appointments are expected between June and August.

Opera Australia’s 2024 box office revenue fell to $50.7 million AUD from $65.7 million AUD the previous year. Audience numbers dropped by 26%, to 362,430.

Donations and sponsorships also declined, from $8.1 million AUD to $6.3 million AUD. In 2023, the company had already posted a $7.8 million AUD loss.

An independent review led by Gabrielle Trainor criticised Opera Australia’s internal culture and structure. The board is currently reviewing the findings.

Meanwhile, The Australian Ballet posted a $9.1 million AUD loss in 2024, softened by $11.9 million AUD in donations and investment income.