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David Brownlee contrasts the growth in earned income at the National Theatre and Newcastle’s New Vic, finding that the latter’s model may give it more potential to increase overall turnover in the next five years.

In December last year, I wrote in these pages about the cumulative changes in levels of income and expenditure of Arts Council England’s revenue funded (National Portfolio Organisation) theatres and touring theatre companies. The headline result seemed somewhat counter-intuitive: despite cuts in public funding, income levels overall were actually rising between 2009/10 and 2014/15, largely due to increases in earned income.
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