Boston Symphony Orchestra

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Case Study Prompt

Despite its renowned reputation, the Boston Symphony Orchestra (BSO) has experienced financial difficulties recently. The BSO has seen a drop in revenues over the last 3 years, leading to budget deficits.

Like many non-profit, the BSO’s revenues can be split into three main sources.

1. Earned income: Ticket revenue from both single ticket sales and discounted multiconcert subscriptions
2. Annual donations by individuals, companies, government bodies, and charitable foundations
3. The symphony’s endowment, a pool of professionally managed donated funds of which the BSO receives a small fixed percentage or “draw” each year.

The Board has asked us to help address the declining revenue problem. What strategies should the BSO pursue to secure revenue growth over the next 5 years?