‘I’m not wielding a knife’: Sydney Theatre Company addresses its financial woes

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After back-to-back years of financial losses, Sydney Theatre Company has a new stage hit on its hands and is bracing for the impact of a new COVID wave | LindaMorrissmh

A decade or so ago, Cate Blanchett and playwright husband Andrew Upton helped turn around the fortunes of the Sydney Theatre Company with their A-list presence.

The theatre company has received more than $23 million in government support including JobKeeper grants during three years of COVID interruptions and relied on unprecedented support from loyal patrons and philanthropists to carry them through back-to-back years of deficits. The company is also in “ongoing discussions” with Create NSW and the Australia Council for the Arts for “grant uplifts”, with core government funding standing at 8 per cent of company income.“It’s a challenging environment,” Dunn says. “We’re doing a lot of internal work around getting a handle on understanding our cost base and understanding our revenue opportunities.

It’s also keen to draw more name actors to stage roles, while honouring its commitment to Australian-led commissions. Luring big-name actors to the STC stage is only part of the equation: “The work needs to be really good, the work needs to be strong – and you know a starry name helps, of course, but it’s not the only pathway to success,” Dunn says.

 

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