Frequently Asked Questions
Due to COVID-19, Victoria Symphony CEO Kathryn Laurin has compiled a list of Frequently Asked Questions to address the current status of the Victoria Symphony.
- What are the issues the Symphony is dealing with?
Like every other performing arts organization, the Symphony is dealing with a number of significant issues that impact our future sustainability including: loss of revenue due to the cancellation of our season; ensuring continued financial stability including the ability to continue to pay our musicians and staff; great uncertainty as to when and under what circumstances the Symphony can resume performing; and the overall future of the Victoria Symphony.
- How are the musician’s doing?
The musicians are obviously disappointed with the cancellation of the season and understandably anxious about how they will continue to earn a living, given the uncertainty of when and under what circumstances the Symphony season can resume next year. However, they are busy making short music videos which we are posting on our website to help us stay connected to our patrons and community.
- Is the Symphony going to be in financial trouble?
The good news is many of our granting agencies have stepped up to provide early funding, and many of our patrons are donating back unused tickets from this season, all of which is significantly helping the Symphony financially. Our annual campaign and subscription sales are in full on mode, and we are hopeful that our valued patrons will continue to support us through donations and subscription sales. However, with much of our revenue stopped or slowed and with the uncertainties of timelines for emerging from the pandemic, financially we approach the end of our fiscal year in an emergency situation. Those able to donate or subscribe now will be sending a powerful message of hope and confidence in our future.
- Will the new season begin in September as planned?
At this time we are full steam ahead with plans for the new season. We continue to monitor the latest COVID-19 developments and will make decisions accordingly. If you are concerned about your subscription tickets, find more information here.
- Is the Symphony going to be doing anything online?
We are building a full array of offerings on our website that includes Musician’s Corner – Watch & Listen. We have educational videos, archival audio concerts including Symphony Splash, interviews with the Maestro, an Ask a Musician section and more! So there is lots to see and hear, and we encourage our patrons to check out these many features on the website.
- How is the Foundation for the Victoria Symphony effected with all the losses in the stock market?
The Foundation is actually weathering the economic turmoil well, although our investment gains have been impacted in the unprecedented stock market volatility. The first quarter of 2020 saw a 15% loss, but with our expert investment management, we are recovering well and the portfolio has now appreciated to an 11% loss position; with no erosion of initial capital. This market loss is of course of great concern to us and the Foundation Board continues to work with the investment managers to ensure we are positioned for the best possible recovery and future growth. (Steve McKerrell, President, Foundation for the Victoria Symphony)