Orchestra reports deficit nearing $1m

The New Zealand Symphony Orchestra may not have got to play on the movie King Kong, but it came through its first year as an autonomous Crown entity with a financial result $307,000 better than budgeted.

The NZSO had performed the score for Peter Jackson's latest movie but he since decided to change the music, which will now be recorded overseas.

In the NZSO annual report tabled in Parliament yesterday, chairman Sir Selwyn Cushing said "we reported a deficit of $915,000 -- compared with $360,000 for the combined result of the NZSO Ltd and the new entity for the 2003-04 year".

Sir Selwyn said the deteriorating position was inevitable because of increasing costs the orchestra has had to absorb.

However there was a silver lining -- funding had been increased for the 2005-06 year and the NZSO had been given some certainty for the next three years, he said.

"We are deeply appreciative of the support that we receive from the New Zealand Government."

He also mentioned sponsors and said the orchestra was close to getting a sponsor for every section and player.

- NZPA