Brooklyn Academy of Music struggles to attract audiences

The Brooklyn Academy of Music (BAM), America's oldest performing arts venue, is facing challenges in regaining its former popularity and relevance. Recently, the academy lost another leader amid ongoing struggles within the cultural sector. Currently, BAM is presenting a production of Tennessee Williams's work featuring actor Paul Mescal, which is drawing interest. This excitement is a reminder of BAM's past when it regularly hosted high-profile performances and innovative productions. However, over the last decade, critics note a significant decline in the number and quality of its offerings. BAM's financial situation is slowly improving but remains delicate. In the five years leading up to June 2024, the staff size dropped by over one-third, and the endowment has decreased in value. Its operating budget is around $52 million, which is less than it was ten years ago. According to Declan Webb, an arts consultant, BAM's difficulties in increasing revenue and managing costs are hindering its ability to pursue bold artistic endeavors. With fewer resources, the venue is forced to take fewer risks, which can stifle creativity and growth.