As the Wall Street Journal points out in a lengthy piece today on how PlayhouseSquare remains economically viable, “‘Arts and culture is losing its market share of philanthropy,’ according to the latest National Arts Index.”
In a struggling city with dwindling resources and fewer patrons spending what little dough they have left on the arts, PlayhouseSquare nevertheless remains on solid financial footing, largely due to investments that have little to do with theater. At least on the surface.
While it would be easier to stuff the arts coffers through “creative” advertising — “West Side Story, with special guest Justin Bieber,” “The Phantom of the Opera, with special guest Justin Bieber,” “Hair, strangely without Justin Bieber” — PlayhouseSquare has built a solid budget and wrangled much-needed dollars through real estate and other ventures.
This article appears in May 4-10, 2011.
