Toronto not-for-profit theatre company Canadian Stage is shown in this undated handout photo. THE CANADIAN PRESS/HO - Canadian Stage
For the first time since its founding in 1987, Canadian Stage has managed to erase its long-standing debt, closing the 2023-24 season with a surplus of nearly $290,000. This achievement marks a major turnaround for the not-for-profit theater company, which had previously been $1.7 million in debt as recently as 2018.
The company credits several key supporters, including the Slaight Family Foundation, the Marilyn and Charles Baillie Family Foundation, and philanthropists Paul and Janice Sabourin. Their contributions helped Canadian Stage produce ambitious shows and expand its audience, which in the last year included its highest number of single-ticket buyers since 2008. Notably, nearly half of these ticket-holders were first-time visitors.
Among the season’s highlights were Matthew Lopez’s play The Inheritance, examining gay culture and the legacy of the AIDS crisis; Crystal Pite’s world premiere of Assembly Hall; and The Shadows Whose Prey the Hunter Becomes by Australia’s Back to Back Theatre, a production created and performed by neurodiverse artists.
Artistic Director Brendan Healy expressed optimism for the theater’s future, noting that eliminating the debt gives Canadian Stage “a fresh start and renewed energy.” He and Executive Director Monica Esteves took on the challenge of addressing the deficit after joining the organization in 2018.
Esteves acknowledged that the COVID-19 pandemic and rising inflation—which has pushed production costs up by roughly 40% since 2019—posed serious financial obstacles. By cutting back on the number of productions, investing in larger casts and enhanced production values, and extending show runs, Canadian Stage successfully drew in new audiences.
Additionally, the theater’s free child care initiative during sold-out performances of Universal Child Care proved popular with audiences, prompting a commitment to offer similar services at future productions at Berkeley Street Theatre.
With the debt cleared and a financial surplus in hand, Canadian Stage is set to bring The Wizard of Oz, Ross Petty’s holiday pantomime, to Toronto’s Winter Garden Theatre this December.
Canadian Stage was originally formed in 1987 through a merger of CentreStage and Toronto Free Theatre.
