Lyric Theatre of Oklahoma

PROJECT PURPOSE

The COVID-19 pandemic and resulting performance venue shutdowns have had a significant economic impact on Lyric Theatre of Oklahoma, the state?s flagship, live theatre company. At the top of Lyric Theatre?s 2020 season, we were firing on all cylinders with sell-out mainstage productions, stellar donor support, fully attended musical theatre classes for youth, and Lyric?s Musical Interactive program for ages 5-10 touring to schools throughout Oklahoma. As a direct result of the forced closure of our performance spaces and indoor classes, Lyric Theatre sustained an immediate financial loss of more than $2 million, setting our annual operating budget back by 16 years. Funding from the ARPA grant would make Lyric Theatre whole again, allowing us to present our 2022 through 2026 seasons at full production capacity, build back financially, and re-establish the organization?s fully self-sustaining business model to our pre-COVID-19 levels. Producing at full capacity will allow us to rehire thousands of Oklahoma-based artists, carpenters, and technicians while drawing Oklahomans out of their homes and back to downtown Oklahoma City and to The Plaza District, where local businesses rely on the patronage of Lyric?s audiences from the region and around the state.

EVIDENCE

Lyric has a proven, sustainable business model with 60% of total revenue coming from earned sources (ticket sales, concessions, rentals, etc), and 40% from public and private contributions. Our current revenue loss originates from the statewide, mandatory closure of performance venues starting in March 2020 resulting in 2 years of revenue loss. An ARPA grant will enable us to restore the organization to full capacity, thereby attracting locals and visiting tourists back to Lyric?s re-opened venues, surrounding restaurants and businesses ? a goal Lyric Theatre is uniquely positioned to achieve with the high-caliber productions we stage throughout the year.

POPULATION DESCRIPTION

LOCAL BUSINESS: Closing Lyric?s doors had a tremendously negative impact on locally-owned businesses who benefit from foot traffic generated by performances. Reopening our venues will be an instant boon to the surrounding businesses, greatly enhanced by an ARPA grant. EMPLOYMENT: Lyric Theatre is a significant generator of local jobs. This funding will put thousands of Oklahoma?s artists, performers, and technicians back to work. Our full-time staff, which was cut by 60%, will be restored to full capacity. Operating back at full force, we will be able to employ more skilled workers, many of whom are at risk of being lost to other states. CHILDREN: Lyric?s theatre-for-youth program was reduced to near non-existence. With ARPA support, this program will once again serve thousands of school children across Oklahoma, many in low-income schools without other arts programming. Without immediate funding, they may lose out on the experience and proven academic benefit of live theatre.

PERFORMANCE MEASURING

The project will be measured through the following key metrics: number of workers employed by Lyric Theatre as compared to pre-COVID-19 levels; the ability to remain debt-free and support all expenses necessary to produce a full season of high-quality, professional theatre; the number of program attendees as compared to pre-COVID-19 levels; and the number of school children served throughout Oklahoma?s 77 counties. The first two metrics will be monitored by Lyric?s finance management. Metrics three and four will be measured using PatronManager, Lyric?s customer relationship management software, which tracks tickets sold, audience attendance, and demographics served.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma