Could De Blasio's New Budget Cause Further Struggles for NYC Theater Companies?

NYC Mayor Bill de Blasio has proposed a new plan for the next fiscal year, and according to Forbes, the budget could be bad news for the city's already-struggling theatre companies.

The budget, which has yet to be approved by City Council, would cut funding for the Department of Cultural Affairs (an agency dedicated to supporting New York City's vibrant cultural life by ensuring adequate public funding for non-profit cultural organizations), by over $75M.

The New York City Department of Cultural Affairs is the largest cultural funding agency in the nation. The Department extends support to the cultural community in three major ways: through funding for specific cultural organizations in exchange for cultural services offered to the citizens of New York City, through direct subsidies to 33 City-owned Cultural Institutions and through capital spending for construction and renovation at designated institutions.

A.R.T./NY, which helps hundreds of theaters in the NYC area, is just one of many organizations that will suffer from the loss of funding. Executive director Ginny Louloudes told Forbes: "Most of our members rely on DCLA funding, and for many of them it's their largest grant. This is really, really bad. For everyone."

As BroadwayWorld previously reported, Broadway shows in New York City will suspend all performances through June 7, 2020.