Budget Royal Theater 2014

Teatro Real

The Board of Trustees of the Teatro Real, at the ordinary meeting held today it approved the budget of the institution for the year 2014 in a total of 42.074.629 euros.
The budget of 2014, which remains at the levels of the previous year, will allow the institution to achieve budget balance as a consequence of the maintenance by the Public Administrations of their commitment to the Teatro Real project, consolidating the support of civil society, and the effectiveness of spending reduction and austerity policies.
The distribution of the Royal Theater budget for the next financial year is divided between the Theater's own income, sponsorship and public subsidies.
Specific, after a cumulative decline in the last five years of 53,6% (in 2009, public contributions were 27.773.135 euros), subsidies from Public Administrations -Ministry of Education, Culture and Sports, Community of Madrid and Madrid City Council- stabilize and remain at the same level of 2013, with an upright of 12.888.975 euros, representing the 30,62% of the total budget of the institution.
Sponsorship income, after the strong growth achieved in recent years, reaches the 10.485.298 euros. In the last year alone, a total of 18 new companies to the set of sponsors of the Teatro Real, already composed of 88 entities, significantly strengthening the presence of civil society in sustaining the Teatro Real.
In the section on own income - income from sales and derivatives for other uses and activities of the Theater- configure the 44,33% remaining budget 2014. The sales revenue forecast is set at 14.765.523 euros (35,08% of the budget) and the income derived from other theater activities such as the rental of spaces, guided tours or rental and sale of own productions, It stands at 3.894.425 euros (9,25%), with a forecast increase in this section of a 43% regarding exercise 2013.

In the expense item, compared to the significant adjustment carried out in the last three years in operating and personnel costs, which has allowed a reduction in 50% Y 18,40% respectively, both items are stabilized and maintained without significant variations in 2014.
With respect to the item of expenditure intended for productions, although it will register a decrease in 6,98% in the framework of the budgetary adjustment initiated in recent years, will have a budget of 12.768.900 euros that will allow the development of the important artistic activity of the institution without it suffering qualitatively or quantitatively.
In this sense, it has been reported that throughout 2014 Royal Theater has scheduled 86 opera, for nine titles, six of them in concert version, three ballet shows spread over 14 functions, 10 concerts and recitals, Y 87 educational program sessions. Also noteworthy, within the schedule, the celebration at the end of 2014 of a Gala tribute to Montserrat Caballé and the commemoration of the 15 anniversary of the death Alfredo Kraus.

In relation to the Season 14/15, although the official presentation of the titles will not take place until the beginning of next year, the artistic director of Teatro Real, Joan Matabosch, It has advanced that the programming will link and significantly involve prominent cultural institutions in Madrid.
On the other hand, In the meeting held today, the acceptance of the twinning proposal with the Royal Theater of the Cortes of San Fernando has been agreed., to commemorate the bicentennial of the reception by the Caños del Peral Theater, where the Royal Theater is located today, of the sessions of the Constituent Cortes of Cádiz, in January 1814.
Likewise, The upcoming constitution of the "Circle of Ambassadors" of the Teatro Real has been reported, an initiative that will contribute to the strengthening and consolidation of the projection and international image of the Teatro Real.

Breakdown of Public Administration subsidies:

-Ministry of Education, Culture and Sports 8.775.170 euros

-Madrid's community 3.454.509 euros

– City of Madrid 659.296 euros