THE
BIG PICTURE
As you will read in the enclosed, the 2024-25 season was marked by incredible milestones.
Boosted by a record-breaking summer, total ticket revenue exceeded budgeted projections for the first time in a decade. Our multi-year financial plan requires such year-over-year positive trendlines. Our goal? A future where 40 % of the BSO’ s annual expenses are sustained by a larger ticketed audience base and diversified earned revenues of all kinds. The 2024-25 season was another important step in this direction, with earned revenue growing from 26 %( FY2024) to 32 % of our overall operating budget. A percentagebased framework acknowledges that neither our revenues nor expenses are fixed, and FY2025 results are even more impressive when considering strategic investments embedded in the fiscal year. For example, 2024-25 marked the fifth and final year in a progressive contract with the Orchestra in which we welcomed two new members and a 2.5 % increase in minimum musician wages.
Thankfully, and in addition to larger audiences, the BSO received the generous support of 6,881 individuals and / or institutions. A wonderful comprehensive view of such philanthropy, The Sherman Family Foundation put out a $ 1 million matching challenge call to action in December 2024. By August 31, more than 1,400 donors responded with a first-time or increased renewal gift, collectively raising over $ 1 million.
As we celebrate such incredible milestones, we must also recognize the dedicated leadership of outgoing Board Chair, Barry F. Rosen. For six years, Barry helped lead the organization through unprecedented transitions with an unwavering commitment to the BSO’ s mission and people. As he steps into a new role as Immediate Past Chair, we encourage you to read more about his 50-year( and counting) relationship with the BSO.
Today, the BSO stands at 85 of the world’ s most accomplished musicians, professionals who bring energy and brilliance to every performance. Paired with the visionary leadership of Jonathon Heyward, the Orchestra has never sounded better, nor has the Orchestra ever meant more to more people. With labor stability and artistic continuity in hand, we can build on great momentum. We are humbled to share this report, and to invite your ongoing participation in the future of this beloved institution.
Mark C. Hanson, President & CEO
Christian Johansson, Board Chair
Extraordinary community response in attendance and giving informed two additional outcomes of the 2024-25 season: a new three-year contract with the Orchestra raising minimum musician pay by 12 %( ratified September 18, 2025), and a three-year extension of Music Director Jonathon Heyward’ s leadership through the 2030-31 season( announced October 15, 2025).
4 BALTIMORE SYMPHONY ORCHESTRA