“The Morini Strad,” the surprise hit playing at the Colony Theatre in Burbank, has generated enough revenue for the cash-strapped venue to produce the next play of its season, the thriller “I’ll Be Back Before Midnight,” according to company officials.
But the theater still needs to raise $500,000 to continue operations and have enough money for an endowment to sustain itself, they warned.
“We’ve always just lived close to the edge,” said Barbara Beckley, the theater’s artistic director. “So when the economy tanked, we didn’t have the reserves to keep us going. We need to correct that for the long term.”
The Colony has delayed sending out its subscription renewal notices that were set to go out in January because of the theater’s uncertain future, said Trent Steelman, the theater’s executive director.
“Our subscribers have been incredibly loyal, routinely renewing at a rate of 90%, and we are committed to being transparent with them about our financial situation,” he said.