London’s Royal Opera House is changing its name and looking for new commercial partners to fill a multimillion-pound funding gap.
From now on the institute will be called Royal Ballet and Opera. The rebrand is part of a mission to increase box office revenue by attracting visitors who were unaware that the Covent Garden facility is also home to the Royal Ballet, says Sophie Wybrew-Bond, the new Chief Commercial Officer , in her first interview in the role. She is also targeting revenue from corporate sponsors who see the potential of the dual branding.
“The ballet has been here since 1946, so it really is a better description of who we are,” Wybrew-Bond says. “We believe that by being clear in our expression of what is stated here, we have a better chance of increasing brand relevance.” She adds: “If you think about our marketing investments, every pound you spend on digital advertising comes back at a higher level when the brand is more relevant.” The organization says it is not discounting the differences in sponsorship between the ballet and opera divisions, and claims this was not a factor in the name change.
Later this year, Wybrew-Bond will offer companies the opportunity to sponsor a series of short documentaries about the Royal Ballet and Opera, planned for release on websites and social media channels. Episodes could feature the day in the life of one of the star performers, Wybrew-Bond says.
Brands can also collaborate with the Royal Ballet and Opera for advertising campaigns. Last November, fashion brand AllSaints introduced a campaign starring four Royal Ballet dancers, one of the company’s first targeted partnerships. Products including a tote bag, sweatshirt and T-shirt were created as part of the campaign; 10% of sales were donated to the organization.
Finding new sources of income will be crucial for the survival of the Royal Ballet and Opera. In the latest available annual results for 2022, the Royal Opera House reported a deficit of £4.2 million, on an income of £132.7 million. Last autumn, Lloyd Dorfman, chairman of the organization and founder of the financial exchange Travelex, estimated that the gap was about £15 million ($18.8 million). This year’s projected deficit, the result of the sharp cuts in government funding that have hit many UK cultural institutions, has forced the team to get more creative.
“The cost of running this place is going up, and government subsidies are going down in real terms, so we need to fill that gap,” Wybrew-Bond says.
Measures include increasing reach on social media sites such as YouTube and targeting streaming platforms to show filmed performances online. Eleven performances can be seen in cinemas next season. “A platform like Netflix would bring art to a wider audience,” she says.
Rebuilt after a fire in 1856, the Royal Ballet and Opera is home to the Royal Opera, the Royal Ballet and the Orchestra of the Royal Opera House. Like many organizations, it has suffered during the pandemic, when theaters were forced to close on and off for more than a year. Since then, regular railway strikes have negatively affected ticket sales. As a result, the opera house was forced to borrow money from the British government and cut costs. The organization borrowed £21.7 million from the UK government’s Culture Recovery Fund during the pandemic.
Selling tickets, which range from £11 to £235, according to Phase, the entertainment magazine, only covers 40% of its costs, and the organization has long relied on donors and philanthropic support. The Royal Opera and Ballet’s Arts Council funding was cut by 9%, equivalent to £2.2 million.
Wybrew-Bond, who took over as the organization’s first Chief Commercial Officer earlier this year, will begin bringing video content ideas to market in early June, seeking sponsors among technology companies, fashion brands and financial services firms. Consider a series of videos about costume design, sustainable fabric dyeing, or the hundreds of light bulbs in the hall that need to be replaced. “We have a number of pilots that we know certain brands will be interested in because of the type of stories we tell,” she says.
The CCO also wants to work with local government body Westminster Council on plans to allow major companies to display their brands on the facade of the Royal Opera House. “Sometimes, of course, we do necessarily have to work on the building anyway, in which case that gives us the opportunity to tackle that space with a brand partner or something experiential,” she said.
One of the institution’s trustees, Michael Ward, is a director of Harrods, which regularly rents out the facade to luxury brands such as Tiffany and Louis Vuitton.
The name change has been announced with the launch of the Royal Ballet and Opera’s 2024-2025 season, which includes the world premiere of Mark-Anthony Turnage’s opera Sturdyand the ballet MadAddambased on Margaret Attwood’s trilogy of novels.