The Washington Center for the Performing Arts provided its annual update at the Monday, September 16 Olympia Finance Committee meeting, highlighting a successful season with 13 sold-out shows and a significant 81% increase in new subscribers.
As part of the center's contract with Olympia, the organization must conduct an annual audit and share the results.
The center invested $3.14 million in capital improvements to its leasehold during the 2022-2023 fiscal year covered by the latest audit.
"It was a major investment that was well worth the blood, sweat, and tears that it took to get there," Jill Barnes, the center's executive director, said. "We're now seeing the benefits and fruits of that labor." She noted that the center has positive financial results, with a net income of $239,716 for the audited fiscal year.
While the center has not yet audited the most recent fiscal year, Barnes reported that year also went "pretty well," resulting in a "nice net income." This net income will be allocated to the center's various designated funds, including an operating reserve that the organization needs to build back up.
According to Barnes, during the 2022-2023 season, the center saw 13 sold-out shows, with over 20,000 tickets sold valued at over $1 million in sales. The center's average ticket price was $54.17.
The year started with a sold-out performance by comedienne Tig Notaro. The center also sold out shows by Indigo Girls, Pink Martini, and the parody production "Potted Potter."
Two performances by a Broadway touring show, including the Irish music and dance production "A Taste of Ireland" were also sold out. In addition, multiple black box jazz shows and Comedy Underground were completely sold out.
The Washington Center for the Performing Arts has a sizable $3.8 million budget for the current fiscal year, a significant increase from previous years.
The expanded budget is supported by the center's diverse programming, including various earned and contributed income sources. On the earned income side, the center generates revenue from rentals, concessions, and ticket sales for its presented shows.
"We have a lot of shows, which means we're paying out more in artists fees and all of the things that go along with that," Barnes explained. "But we're also hopefully bringing that back in for income, as well as helping to drive our local economy."
The Washington Center for the Performing Arts is also celebrating a surge in new subscribers, reporting an 81% increase over the previous year. That far exceeds the national average of 46% for new subscriber growth.
Barnes added that the center also sees a 75% renewal rate for its existing subscribers, which is well above the national average. She attributed the center's subscriber increase to several factors, including the diverse and engaging programming lineup, the growing popularity of the arts in the Olympia community, and an influx of new residents discovering the center's offerings.
"Since 2018 and 2019 a lot of people moving into our area who are just now discovering us. We're also seeing a lot of people move into our area from larger cities like Dallas or Seattle, or people who have expectations for cultural and arts and entertainment offerings," Barnes added.
Looking ahead, the Washington Center for the Performing Arts is focused on expanding its engagement opportunities and community partnerships.
The center is also seeing an uptick in rental bookings, which Barnes partially attributed to the Inspire Olympia funding initiative. She noted that one recent renter, Latina K, was able to host her first show at the Minnaert Center after receiving Inspire Olympia support, and was "over the moon happy" with the experience.
Barnes mentioned that the center has made some facility upgrades, including installing electric door readers and a new concessions point-of-sale system.
Barnes said the center has also brought on several enthusiastic new board members and continues to meet monthly with its artistic partners, such as the symphony and choral ensemble.
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