Hanover Theatre Revenue Up For 2012
Revenue rose 4.2 percent for The Hanover Theatre for the Performing Arts in Worcester in its 2012 fiscal year, despite a slight drop in event attendance and an increase in expenses that caused net income to fall, according to the entertainment venue’s annual report.
The theater’s total revenue exceeded $7.4 million, up from $7.1 million in 2011. Net income fell from $183,990 in 2011 to $64,202 as expenses in several line items rose, such as event expenses ($4.4 million to $4.7 million) and fees for performers ($2.46 million to $2.62 million).
Nearly 190,000 patrons attended events during the Hanover’s fiscal year, which ended June 30. While that was down slightly from fiscal 2011, it’s up by more than 14,000 from 2010.
The annual report will be filed in January with the state and federal governments, according to Laurie Carr, a spokeswoman for the theater.
Executive Director Troy Siebels was upbeat about the results. “It’s only been four and a half years since The Hanover Theatre’s grand opening in March 2008, and in that short time we’ve come such a long way,” he said.
Siebels also noted the Hanover’s efforts to reduce its carbon footprint through the deal that is now providing the theater with 80 percent of its electricity needs from a 5-acre solar farm in Leicester.
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