TheatreWorks Silicon Valley, a Tony Award-winning stage company that has been a cornerstone of the Bay Area theater scene for decades, is facing a severe post-COVID financial squeeze and may not survive the year, directors have announced.
The news is the latest unsettling reflection on how the pandemic, which shut down nearly all live performances for some two years beginning in March 2020, has exacted a lasting toll on the arts and entertainment world in the Bay Area and beyond.
TheatreWorks has earned a nationwide reputation as a company eager to develop and showcase new works. It has debuted 72 world premieres over its history, including the musical “Memphis,” which went on to win the Tony Award for best musical in 2010. Ticket and subscription sales aren’t the only problem. The company is also grappling with a sharp drop in individual and corporate donations, officials said.