Royal Albert Hall reveals record financial performance

The Royal Albert Hall has announced an operating income of £18.6m for 2013, its highest-ever figure to date.

The Royal Albert Hall has hosted Bob Dylan and Lang Lang concerts this year
The Royal Albert Hall has hosted Bob Dylan and Lang Lang concerts this year

The result represents a growth of 10.4% on the previous year and has helped the hall achieve its highest-ever operating surplus of £5.3m.

The venue, which is run as a charity without help from government funding, said the increase was due to a rise in box office receipts and sponsorship income. The main auditorium hosted 390 events throughout the year to an audience of 1.7 million – an attendance rise of 7% from 2012.

Over £1m was donated by the hall’s membership, trustees and other trusts and foundations, while new sponsors such as Samsung, Tag Heuer, Heineken and Cafedirect have helped increase sponsorship income by 27% to £1.7m.

Revenues have gone towards the vital maintenance of the 144-year-old venue. Key investments this year include the opening of the Zvi and Ofra Meitar porch and foyer and the modernisation of the box office.

Chris Cotton, chief executive of the Royal Albert Hall, said: "We are dedicated to improving public access to the arts and sciences, and our success in investing to attract new audiences must go hand in hand with effective fundraising.

"As a charity that needs to stand on our own two feet, donations are vital to our efforts to preserve the hall for future generations and it is important to recognise the generosity of our sponsors, donors and members in helping us to promote the arts and sciences with confidence and imagination."

Jasper Hope, chief operating officer at the Royal Albert Hall, added: "I’m enormously proud that our continued financial success is allowing us to build upon Prince Albert’s legacy for the hall to be a leading showcase for the arts and sciences.

"By encouraging more visitors through our doors we’re raising vital revenues to support the maintenance and running costs of this iconic venue, as well as enabling to plan for ambitious new development projects to take us beyond our 150th anniversary and all the while offering a global stage for an annual calendar of world-class performances."

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