In 2024, Sydney Theatre Company recorded the highest revenue in its 45-year history, with a total income of $47m*. This includes $37.7m in operations revenue from box office and touring, licencing and royalty payments, venue hire fees and F&B commissions, plus income from philanthropic donations, government subsidies and returns on investment.
Across the season and national and international touring, 512,155 people saw an STC production(2023: 262,123) in 2024.
Operations revenue increased by $10.1m to $37.7m compared to the previous year (2023: $27.6m) due to an increase in subscription and casual ticket sales** (2024: 239,951 subscription and casual tickets sold; 2023: 228,847); excellent box office results for encore Sydney seasons and multi-city tours of hit productions RBG: Of Many, One and Julia; and a significant uplift in other national and international touring activity, including a self-presented tour of The Dictionary of Lost Words at Arts Centre Melbourne and the Olivier Award-winning West End season of outgoing STC Artistic Director Kip Williams’ The Picture of Dorian Gray (2024 total tour tickets: 272,204; 2023 tour tickets: 33,276).
The high inflationary environment has elevated operational and production costs which, along with stagnated government support and a slight dip in philanthropic donations (2024: $3.5m net; 2023: $4.5m net), contributed to a comprehensive deficit of $565,759 for 2024. This is a $1.3m improvement on the 2023 result, which was a comprehensive deficit of $1.8m.
STC Executive Director and co-CEO Anne Dunn said: ‘“STC began 2024 with a bang in February with five different productions, delivered in four cities, across three countries simultaneously. In total we reached 512,155 paid attendees with our productions in Sydney, on tour and licence. This resulted in the highest revenue from box office, touring and royalties, in the Company’s 45-year history.
The 2024 subscription season included four world premieres and four Australian premieres as well as recognised works, including encore seasons we were excited to bring back following previous sell-out runs. The success of the 2024 program reflects the dedication of the entire team, who deliver these outstanding theatrical experiences.
In Sydney an additional 51,476 people enjoyed a performance from one of the many external arts companies and commercial producers who present work at the Roslyn Packer Theatre and our beautiful Wharf Theatres – including the Sydney Festival which has taken over both STC venues in January for the last three years.
As we continue to deliver the STC 2025 season and plan for 2026, our focus remains on Company financial sustainability to ensure we can continue to invest in new works and continue the tradition of artistic innovation and fresh and compelling narratives. Our unwavering dedication to creative excellence positions us well for the future’’.
Sydney Theatre Company Chair Ann Johnson said, ‘’2024 was a stellar year for the Sydney Theatre Company mainstage season and touring program. The main season of theatre proved popular with critics and audiences in 2024, with several shows exceeding budgeted sales. Touring results were also strong and have given the Company confidence to consider expanding the touring program.
In the 2023 report, I referred to the difficult operating environment that STC and all performing arts companies were facing. In 2024 the Board worked with STC senior management on budget repair to improve the Company’s financial position and I am pleased to report that STC posted a significantly reduced deficit of $565,759 at the end of 2024
Maximising ticket sales, which make up the majority of the Company’s revenue, and leveraging other income streams continue to be a priority for the Board and senior management as they work towards a more sustainable financial base for the Company’’
*STC 2024 total revenue and income
| Gross Revenue from continuing operations (box office and touring revenue, licencing and royalty payments, venue hire fees and F&B commissions) | $37,703,327 |
| Ongoing government grants Creative Australia $2,578,067 Create NSW $573,560 | $3,151,627 |
| City of Sydney Project grant | $23,000 |
| Gross philanthropy income | $4,857,764 |
| Finance income | $1,348,461 |
| TOTAL | $47,084,179 |
**2024 Season and touring
The 2024 season had 13 productions in the subscription season and 2 special presentations
(tickets to special presentations are not available as part of a subscription package).
Total sales for subscription and casual tickets for the 2024 season and special presentations increased to 239,340 (2023: 228,847).
| 2024 | 2023 | |
| Productions in STC season | 13 | 14 |
| Special presentations (not part of subscription package) | 2 | 2 |
| Total number of productions at STC venues | 15 | 16 |
| Season tickets sold (subscriptions + casual) | 232,815 | 203,331 |
| Special presentation tickets sold | 7136 | 25, 516 |
| TOTAL Sydney season & presentations | 239,951 | 228,847 |
| Touring tickets sold | 272,204 | 33,276 |
| TOTAL Tickets for Sydney season plus touring | 512,155 | 262,123 |
Of the 512,155 people who bought a ticket in 2024 to an STC production, 272,204 attended a venue outside of STC’s Sydney venues (2023: 33, 276). In total, STC productions were performed in 38 venues beyond STC’s home venues in Sydney in 2024.
This contributed to increased revenue from ticket sales, licence fees or royalty payments for STC productions including:
Create NSW and Creative Australia funding
Core government funding from Create NSW and Creative Australia is 6.7% of STC’s total revenue and income. In 2024, STC received a total of $3,174,627 in ongoing grants:
One-off grants relating to COVID are no longer available, and 2024 was the first year since 2020 that STC did not receive a COVID-related government subsidy.
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