Commercial approach gaining rave reviews at Belgrade Theatre
COVENTRY’S Belgrade Theatre’s attempts to diversify its income streams appear to be succeeding. Its commercial enterprises earned £350,000 for the theatre last year.
Its annual report for 2011/12 reveals that such enterprises – which include Belgrade Production Services (BPS) and events and conferencing – have earned almost £1m since 2007.
In a bid to become less reliant on public funding and to earn money from areas other than ticket sales and merchandise, the Belgrade has diversified its income streams since reopening in 2007. This has seen the creation of BPS, which builds sets for theatres around the country, an events and conferencing service and the introduction of commercial theatre workshop programmes for children and young people.
Combined with the money raised from tickets sales, sponsorships and donations, these commercial enterprises have helped the theatre earn 51% of its own income in the last year, up from 30% four years ago. During 2011/12 each £1 of Coventry City Council funding was matched by £2.11 of earned income which rises to £3.01 with Arts Council funding.
In addition to providing a new income stream for the theatre, BPS also retains a pool of skilled workers in the city at its workshop on Red Lane. During 2011/12 the company provided almost 9,800 hours of work for freelance and casual carpenters, welders, props makers, scenic artists and wardrobe technicians, in addition to the Belgrade’s core staffing.
The Belgrade Theatre’s executive director Joanna Reid said: “Our commercial enterprises have proved to be a jewel in the Belgrade’s crown and we’re extremely proud of them.
“Not only do they provide a financial contribution to the theatre, they also enable us to create jobs for skilled workers in the city, which is extremely important in the current economic climate.
“Recent funding cuts from the Arts Council, combined with an additional 25% funding cut from Coventry City Council, means that this income is more important than ever to ensure that we can continue to provide a varied and life enhancing programme of artistic work, alongside our valuable work in the local community.”
