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Lecture 8

Lecture 8 Notes


Department
Arts Management
Course Code
VPAA10H3
Professor
Anne Tasamine Frost
Lecture
8

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VPAA10H3 Intro to Arts Management: Lecture 8 Notes
Professor Frosts office hours: Thursday Noon to 1pm, 1pm 2pm Friday AA329
Today’s topic: Budget, Arranging Resources
Commercial entity in organizing budget
YouTube Video
oWizard of Oz scene, where the wizard was really a man behind the curtains on a
mic
oThus signifying that we are backstage workers
Budget how much money/funding do you have in making a project happen?
oHas both revenue and expenses itemized
oHow much your actors will cost you?
The look at Money
oWhy dont the arts pay for themselves (or do they)?
oNFP misconception is that they do not care much about money nor charge for
admission
oNFP do however train personnel, production managers, theatre
oArts that pay for themselves Royal Thompson Hall, High Culture Events
such as opera, Sound of Music/Commercial shows, Dancap Productions Jersey
Boys Toronto
Yet some cannot pay for everything
oCommercial sectors purpose is to make money
oAngels = investors in commercial theatre lose the money theyve invested
oNFP Sector (Mandate) - $ Surplus
Surplus is then used to reinvest in the activities of the organization
Trying out through conceptual art, dance, theatre trying on sizes
NFP is where things begin; risks are more common
The audience is paying for something that is unknown
oProfit Revenue > Expenses
www.notesolution.com
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