“Taper shows lose the most money,” said CTG’s CEO. “They’re costing us twice as much as they would have before. And the Ahmanson is bringing in less than half of what it did… We just can’t afford to continue to lose a million dollars a show at the Taper”
the Paul Grellong drama starring Bryan Cranston, was the highest-selling season subscription production in Geffen Playhouse history.
“The hard thing about the arts is the money is all expended upfront,” said Desai. “We have to front the millions in cost of production. And that’s why we’re running into cash flow and other financial issues. The subscription model came about because you need money to launch a season and to keep it going.”
Center Theatre Group is at an inflection point. New artistic director Snehal Desai aims to ‘turn the ship’ “The biggest issue is not being able to read the future,” Pressman said. “Our hindsight is really great right now. But when we reopened, we didn’t know about Omicron or even Delta [COVID variants]. … I will say the predominant thing we’re experiencing right now has to do with the external threats of the environment. A lot of big companies are in similar financial difficulty and have been shielding that information. So I would say this is not so much a management weakness.
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