The Phoenix Symphony is suspending all remaining performances in the orchestra’s 2026-27 season following its Sunday, Nov. 1, performance of "Pirates of the Caribbean: The Curse of the Black Pearl in Concert."
The symphony's Board of Directors made the decision, indicating it does not have the financial resources necessary to continue the season, its first with Virginia G. Piper Music Director Designate Paolo Bortolameolli, who conducted the season opener the weekend of Oct. 9.
In an exclusive interview with The Arizona Republic, Symphony President and CEO Peter Kjome called it “an extraordinarily difficult decision that will affect the lives of our musicians and staff as well as people across our community.”
Unpaid layoffs of the symphony’s musicians
will take effect Monday, Nov. 2.
The Phoenix Symphony has faced financial challenges for many years
The Symphony has faced significant financial challenges for many years, Kjome said. The Board and management have worked to address financial challenges through the CRESCENDO fundraising and endowment campaign and by implementing significant reductions in administrative costs.
Unfortunately, these efforts have not been enough. Despite increased ticket sales and philanthropic support in recent years, ongoing operating deficits have left the organization with substantial financial obligations that make continuing the season untenable.
Ticket sales only account for a quarter of revenues. As the Symphony’s Chairman of the Board, Mo Stein told The Republic, “We could sell the rest of the auditorium out and we still wouldn't make enough money on performances to not have to do a significant amount of income from philanthropy.”
Financial contributions were less than expected this season
Part of the problem with this season moving forward was that anticipated contributions for the current fiscal year had fallen short of the amount required to sustain operations, making more fundamental changes necessary.
“I think that the full intent was that things would continue to go well with the planning that we've done,” Stein said.
“The season really starts for us in June. We spent a significant amount of time putting our house in order for this upcoming season, including adopting a very achievable budget, expense reductions of significance, income opportunities, including ticket sales, which were up. We think a lot of that has to do with the excitement that we're bringing to the podium about the classics and the Pops concerts.”
However, Stein said that as the season began, “the data started showing us that it wasn't going to be achievable, that the income opportunities for contributed revenue this year would be less than we planned for any number of reasons. It could be the economy. It could be other things of importance to donors. It could be the general trend towards supporting things other than the arts. We're not the only ones struggling in this industry.”
That data precipitated “a really tough look,” Stein said.
'It was necessary to move really quickly. That's exactly what we've done'
They tend to face financial difficulties in the spring as the season is nearing the end, Stein said.
“When it became clear it was going to happen earlier and it happened for us in October, we knew something was really different and we had to take that very, very seriously. Knowing that there were community members and great friends of the Symphony who would support the Symphony, the idea of going back to them earlier and earlier and earlier with the same story was not something that is sustainable or a good business model.”
When the data suggested that there would be insufficient funds to cover payroll, Stein said, “It was necessary to move really quickly. And that's exactly what we've done, is taken action that's unfortunately rather drastic, but it's going to be necessary to save the organization, to go on a suspension and find a model that allows us to come back as reasonably soon as possible in a sustainable and appropriate way.”
Continuing the season without the cash flow to meet its immediate financial obligations would put the institution's future at even greater risk.
“It is vital that we have a sustainable operating model,” Kjome said. “And although we have made improvements in both ticket sales and contributed revenue, and we've been carefully managing expenses, including making expense reductions, this has just simply not been enough to strengthen our financial model sufficiently to continue.”
The board’s responsibility, Stein said, “is to minimize further losses, create a robust restructuring plan and build a financial foundation that will last."
The Phoenix Symphony took efforts to address the financial shortfall
The Board and management have worked on several fronts to address the deficit.
The CRESCENDO endowment campaign launched in April 2025 with a $60 million fundraising goal to create a long-term funding source for the Symphony.
“We launched the CRESCENDO campaign last year, in part, because we know it's important to substantially increase the endowment,” Kjome said. “That campaign is necessarily taking time.
Between fiscal year 2023 and fiscal year 2026, the Symphony's annual revenues increased by more than 50%.
The Symphony also reduced administrative expenses by approximately $766,000.
Despite those efforts, essential costs have only continued to increase; the majority of endowment gifts cannot be used for day-to-day funding needs, and philanthropic contributions for the current fiscal year have not reached the levels needed to sustain operations.
Combined with the organization's existing obligations, this shortfall created an immediate financial crisis.
"Simply put, we cannot continue spending funds we do not have," Kjome said. "That is the central reason for this decision.”
Continuing the season would mean 'spending monies we don't have'
Moving forward with the season, Stein said, would require “spending monies we don't have, which would increase the structural deficit, which is something we're just not prepared to do. We're prepared to move forward with a budget that's balanced and appropriate and sustainable. We want to operate effectively. No business can continue to spend more than it makes.”
Structural changes are required.
“That's where we're headed right now is to find that model that is special, not just amongst orchestras, but what's going to work in Phoenix with our donors and our community to continue the work we think is so important,” Stein said.
The Symphony’s deficits have decreased in recent years, Kjome said, adding that in the most recent fiscal year, the Symphony’s deficit was approximately $1 million.
“Despite those operating results improving, we've still continued to run deficits,” Kjome said. “And we simply cannot continue to spend funds we do not have.”
Those past debts, Kjome said, have left the Symphony without an operating reserve.
“If we had a substantial operating reserve, that would be enormously beneficial to the Symphony. And that's one of the things that we will be talking about as we discuss the next steps.”
They also plan to talk about what works specifically for Phoenix.
“Symphonies have been doing business the same way for a very long period of time,” Stein said.
“There are luminary symphonies you look at all around the country. We simply aren't going to be able to do business the way everybody does business. We should do business the way that works in Phoenix. And that means modifying our program a little bit in terms of more classics or less classics or things that appeal to wide audiences or the kinds of music that our community wants to see, including welcoming in a diverse population that exists in Phoenix.”
What the suspension means for The Phoenix Symphony
The Board's objective is to resume performances when the Symphony has secured the financial resources and implemented the changes necessary to operate sustainably. Whether or when that will be possible remains uncertain.
During the suspension, the Board and management will:
- Continue efforts already underway to address outstanding obligations and operating costs;
- Reassess revenue assumptions and fundraising needs;
- Determine the conditions necessary for a responsible, sustainable return.
The Symphony will share information about its financial recovery plans as that work progresses.
Stein isn’t ruling out the possibility that the season could resume at some point.
“Depending on what happens with the community and donations and our ability to seek additional philanthropic support, which includes individual contributions and grants from many sources, including Friends of the Symphony, I wouldn't rule anything out,” he said. “But right now, it's appropriate for us to say we are suspending the season, and we will do everything we can to return stronger, smarter and with the kind of energy that this community deserves.”
"Any return to the season will depend on a realistic budget, verified support and the financial discipline to remain open," Stein said in a statement. "We owe that to our musicians, our staff, our patrons, our donors and everyone else who has supported this orchestra."
Information for musicians, staff and patrons
The Symphony is communicating directly with affected musicians and employees about employment status, compensation and benefits.
The Symphony will also notify subscribers and other ticket purchasers about their options as soon as necessary arrangements are finalized.
Ongoing updates will be posted at phoenixsymphony.org/updates.
The Symphony expressed its gratitude for the community's longstanding support and commitment to making its music possible.
Those who wish to support efforts to preserve the future of The Phoenix Symphony can find information about contributing at phoenixsymphony.org/donate.
Ed has covered pop music for The Republic since 2007, reviewing festivals and concerts, interviewing legends, covering the local scene and more. He did the same in Pittsburgh for more than a decade. Follow him on X and Instagram @edmasley and on Facebook as Ed Masley. Email him at ed.masley@arizonarepublic.com.
This article originally appeared on Arizona Republic: Phoenix Symphony cancels 2026-27 season due to financial issues
