Artistic Director Matthew Warchus Reveals The Old Vic is in a 'Seriously Perilous' Situation

Matthew Warchus, Artistic Director of the Old Vic, has revealed that the theatre is in rough shape due to the financial toll caused by the health crisis.

The Guardian reports that Warchus says The Old Vic is in a "seriously perilous" financial situation.

The theatre has no government funding, and, although there are some funds in reserve, Warchus says that it is a matter of "a small number of months" before those run out. He says after that, there is "no safety net."

The staff has already taken a 20% pay cut, and while the government's furlough scheme has extended through October, many theatres are not expecting to open until later.

"We are all puzzling away, thinking hard about how we can respond to this situation and what our creative input can be," Warchus said. "There are some bright people on those calls. We are mostly stumped because our hands are tied behind our backs: if you can't bring performers and creatives together, with an audience, you're incredibly limited."

Read more on The Guardian.

As BroadwayWorld previously reported, the Old Vic has launched its new programming, Your Old Vic, which will include streaming productions, podcast, educational portal, and much more. Learn more about that here.