New York City Opera will file for bankruptcy
Sad news: The long-running institution was unable to raise enough funds through its emergency appeal and will close.
Tue Oct 1 2013
Photograph: Pari Dukovic
New York City Opera is shutting its metaphorical doors. Company officials announced today that the 70-year-old institution was not able to raise enough funds to rescue itself from bankruptcy, taking in just $1.5 million out of the $7 million deemed necessary for survival; a Kickstarter campaign with a goal of $1 million netted only $300,000. Operations will begin to wind down immediately, making the company's last production Anna Nicole, which closed Saturday night at BAM. We asked Time Out's Classical & Opera music editor, Steve Smith, to share his thoughts on the news; here's what he had to say:
"It's always hard to see a prominent company go under, but in the case of City Opera, we're losing something very precious. The company nurtured some of the world's greatest performers, including Plácido Domingo, Beverly Sills and Samuel Ramey, to name just a few. City Opera championed emerging singers, American composers and inventive stage productions passionately, and did it all at a price level affordable to everyday folks, not just the moneyed elite that the Metropolitan Opera was viewed, rightly or wrongly, as courting.
"Truthfully, many of the Met's recent initiatives to become more user-friendly borrowed freely from City Opera's philosophy and methods, which just pushed the smaller company to become more feisty and clever. Sadly, though, the money dried up after a series of staggeringly bad business decisions, and no amount of good will and faith could rescue a beloved institution that will be badly missed—even if something vaguely similar pops up in its place, which might well happen. The New York City Opera was a company, sure…but more than that, it was an attitude, and attitude doesn't come easy."
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Editor: Marley Lynch (@marleyasinbob)