The Met Sells Bonds to Make Up for Losses

The Metropolitan Opera House at New York's Lincoln Center(Photo: cocoate.com (Flickr))
The Metropolitan Opera House at New York's Lincoln Center(Photo: cocoate.com (Flickr))

The Metropolitan Opera is preparing to sell bonds for the first time since 1883 in order to make up for a shortfall in operating revenue, according to Bloomberg Businessweek.

The Met’s operating expenses reportedly increased 15 percent during the last three years, with operating revenue increasing only 11 percent. Last season also saw the opera company’s revenue drop eight percent.

Read more: Met Opera to Sell $100 Million in Bonds as Revenue Drops

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