L.A.'s largest nonprofit theater company suspends the rest of the season, including its LeBron James play 'King James.' It projects a massive deficit.
The Industry had to close “Sweet Land,” its acclaimed opera in a downtown L.A. park. The production shifted online — and is as compelling as ever.
The loss of ticket sales and the cancellation of its annual fundraising gala are creating what is estimated to be a $6 million budget deficit, the company said. “As a nonprofit with more than 75% of our annual revenue coming from ticket sales, such unexpected losses are beyond devastating, both for our financial situation and for our ongoing mission to produce theater,” the statement read.
“We have been working around the clock to explore all possible options, knowing that every member of the staff is part of our family. We have made it our top priority to take care of as many staff as possible in this horrible moment.”Center Theatre Group said it remains committed to reopening theaters in the fall.
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