The Australian Ballet has released its 2023 Annual Report, one highlighting a significant increase in revenue from Artistic Programs, which rose to $45.3m in 2023 up from $35.8m in 2022.

The company also posted a profit of $7.2m for the year, a substantial rise from the previous year’s slender profit of $0.3m. However, the underlying financial result showed a loss of $3.8m, an improvement over the $6.1 m deficit in 2022, but indicative of the ongoing operational challenges in the post-pandemic landscape.

“Inflationary pressures have seen our costs of production and touring escalating at rates well above the increases in ticket prices that we can pass onto our subscribers and other customers,” wrote Board Chair Craig Dunn and Executive Director Lissa Twomey in the report. “The company is increasingly reliant on other sources of income to fund its operations, especially philanthropic support.”

Maxim Zenin and Imogen Chapman in The Australian Ballet’s Jewels. Photo © Rainee Lantry

Audience Engagement and Outreach

In 2023, The Australian Ballet performed 248 times for 305,364 people both nationally and internationally. Despite this success, total audience numbers have yet to rebound to pre-COVID levels, reflecting the broader...