Pittsburgh Turns It Around

The Pittsburgh Symphony Orchestra, which has been seen as a textbook case of the financial chaos enveloping American symphony orchestras, has somehow managed to balance its budget. “The PSO had projected a $2.5 million to $3 million structural deficit for the 2003-04 season, but expects to avoid it through increased endowment performance, augmented annual fund contributions, reduced musicians’ salaries, increases in ticket revenue and enhancement of shared services… Other positive fiscal factors include fund raising that is $250,000 ahead of this time last year, a new musicians’ contract that includes a 7.8 percent wage cut for the first two years, and a 30 percent increase in new classical subscription sales from last year to date, totaling 1,550 new subscribers.”