In one year, the Shaw Festival has managed to turn a record loss into an unprecedented achievement for the theatre company.
During Friday’s annual meeting, treasurer Greg Price announced the 2024 season’s operating revenue, sitting at $39 million — the Shaw’s largest operating revenue to date.
The season achieved an operating surplus of $768,000.
The announcement, made to an audience of company members, patrons and donors, comes after the Shaw passed a tough fiscal year in 2023.
Just last year, the festival announced a loss of $5.7 million.
Price credited the turnaround to not only ticket sales but an all-time-high amount raised from private funding, at almost $12 million.
“We also had expenses that were significantly contained,” Price said.
“A pivot had to happen from an artistic perspective and I think management really pulled off this plan.”
Targets of delivering an increase in traffic at lower costs were all met, Price said.
“Honestly, it was a great result,” he said.
“I’m not going to talk for ten minutes like I did last year, because last year I had to explain to all of you why we lost so much money — this year I get to cut it short.”
The Shaw Festival’s executive director Tim Jennings highlighted that audience attendance increased 15 per cent over the course of the year.
More than one in three festival attendees also participated in some kind of class discussion or activity, companion events to the festival’s productions (including seminars, special presentations and symposiums), as well as seeing a show, he said.
“That’s maybe a high not just for us, but for the industry,” he said.
These numbers are a clear sign audiences and artists want more interaction and opportunities to connect with one another, Jennings said.
Jennings outlined the Shaw’s continued efforts in supporting the community going forward through 2025, including the upcoming new artist village at the former Upper Canada Lodge and the Royal George Theatre rebuild, set to be complete by 2028.
Doors will close at the Royal George after a final performance of “A Christmas Carol” on Dec. 21. Its rebuild is set to begin in 2026.
Artistic director Tim Caroll closed off the annual meeting with an emotional address, highlighting the importance of theatre during difficult economic and societal changes.
“Theatre is not only perfect to lead the fight back because the communal experience of watching a play is exactly the kind of thing that might spark us to reclaim our common humanity,” he said.
The skills it takes to watch a play are also the skills needed to write and perform in a play, Carroll said.
“These are the qualities we’re going to need to turn back the tide.”
New facilities will give people the chance to rediscover their “inner artist,” Carroll said.
Ian Joseph, board chair, said the Shaw is a welcoming place for American visitors.
“This is a community that shares art that transcends boundaries,” he said.
In a media release, the Shaw also announced the board of governors now has two new members, Colleen Johnston and Dan Patterson.
Johnston has held several past board positions with companies including Shopify, McCain Foods, Q4 and the Shaw in past years. She is currently the chair of Unity Health Toronto.
Patterson’s career spans five decades and is known for his contributions to Niagara College, Ontario’s college system and post-secondary education across Canada. He holds an MEd and PhD from the University of Toronto along with honorary doctorates from Niagara University and Brock University.
