San Diego Opera’s crowdfunding campaign has strong start

San Diego Opera patrons gather outside Civic Theatre before a performance of "Don Quixote" earlier this month. Crowdsourced fundraising is part of the recently downsized opera board's strategy for saving the financially troubled company. (David Ng / Los Angeles Times)

San Diego Opera patrons gather outside Civic Theatre before a performance of “Don Quixote” earlier this month. Crowdsourced fundraising is part of the recently downsized opera board’s strategy for saving the financially troubled company. (David Ng / Los Angeles Times)

Mike Boehm | LA Times | April 29, 2014 – San Diego Opera announced Tuesday that its bid to make crowdfunding a key to its survival had brought in $328,475 since last Friday, nearly a third of the online and telephone campaign’s goal of raising $1 million by May 19.
Opera spokesman Edward Wilensky said that 544 households had pledged that sum as of mid-afternoon Tuesday, for an average gift of $604.
That leaves $671,575 to be raised in three weeks. Opera officials have said the money is crucial to mounting a 2015 season that would differ substantially from the past approach, which called for four large-scale operas each season and an overall company budget of more than $15 million.
Donors will get refunds if the campaign fails to reach its goal by the May 19 deadline, or if San Diego Opera fails to announce a 2015 season. Those giving to the crowdfunding effort are risking $8 each — the handling fee they’ll be charged if the rescue effort falls short and refunds have to be made.
The opera company said it is “actively analyzing sustainable business models and various plans for future seasons” as it tries to revamp itself on the fly.
Meeting Monday, the opera’s board elected a new set of officers. Carol Lazier, who pledged $1 million toward the company’s rescue early this month, was confirmed as president after having served briefly as acting president. Her predecessor, Karen Cohn, was one of 29 board members who’ve resigned since the company’s turmoil began March 19 over whether to shut down after a 49-year run or make changes and try to continue presenting opera in San Diego with a different, scaled down approach.
The 54-member board that existed when an initial vote was taken to disband San Diego Opera is now down to 25 members who aim to keep it going. The resignations represent a financial loss of about $750,000 a year, since board members pay annual dues of $25,000 each.
The opera board became divided over whether to surrender without a struggle in the face of a long-term trend of dwindling ticket sales and generally diminishing donations. Cohn and Ian Campbell, the company’s general director and artistic director since the early 1980s, argued that closing in the face of what they thought were unalterable realities would allow San Diego Opera to end on a “dignified” and financially responsible note, allowing all its creditors to be paid.
Campbell and his ex-wife, Ann-Spira Campbell, who was also a top opera company administrator, were placed on paid leave last week.
The 33 to 1 vote in March to shut down came as a surprise; while San Diego Opera had been open about its financial decline, there had been no suggestion that it was in imminent danger of folding.
An outcry ensued in the community, and Lazier emerged as a leader of a dissident faction on the board that wanted to adapt to the changing conditions that many opera companies face.

read more:,0,4964395.story#ixzz30M6eAVK7,0,4964395.story#ixzz30M6FHFqg


This RSS feed URL is deprecated, please update. New URLs can be found in the footers at [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

CryptoCoinsNewsCrowdfunding Giant Indiegogo Looks to Make ICOs Mainstream ...CryptoCoinsNewsOne of the world's most popular crowdfunding platforms is getting in on the ICO game. Josiah Wilmoth on 14/12/2017. ------------------Advertisement------------------. Advertisement · Reddi [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

Crowdfunding via Customers: Is This The New Startup Capital?Customer ThinkWith more and more companies in a variety of sectors developing new crowdfunding campaigns, it makes sense to ask whether crowdfunding is likely to replace startup capital in the near future. Crowdfunding is qui [...]

VentureBeatAtaribox hits the pause button on its crowdfunding campaignVentureBeatAtari was supposed to start taking preorders along with launching its crowdfunding campaign on Indiegogo today for its new Ataribox console. However, it seems to have hit an unspecified snag and in an ema [...]

Coindesk (press release) (blog)Crowdfunding Giant Indiegogo Opens to ICOs - CoinDeskCoindesk (press release) (blog)The startup revealed today that, through an existing partnership with MicroVentures, it will begin offering services to projects seek to use the blockchain funding model. [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |