Visitor numbers, ticket sales, income and expenditure up for Esplanade, National Gallery Singapore

SINGAPORE – Audiences and sponsors showed up in larger numbers for cultural institutions Esplanade – Theatres on the Bay and National Gallery Singapore (NGS), in a sign of a steady post-pandemic recovery for the performing and visual arts sectors.

The Esplanade recorded close to 3.81 million visitors – of which more than two million were online audiences – between April 2023 and March 2024 in its annual report released on Sept 24. This marks a significant 16 per cent increase from the 3.26 million visitors to the arts centre in FY2022/23.

In a departure from its previous financial reports, the Esplanade did not provide a full breakdown of paid and free in-person as well as digital attendances. The arts venue reported

1.77 million visitors in the previous financial year

.

The centre’s total income rose from around $24.08 million in FY2022/23 to $26.64 million in FY2023/24.

The rise derived mostly from a tripling in sponsorships and donations from about $1.3 million in FY2022/23 to $3.98 million in FY2023/24. This is largely attributed to a new strategic partnership with DBS Foundation, which donated $3.5 million in support of the Esplanade’s free programmes at the DBS Foundation Outdoor Theatre for the next five years.

The number of sponsors and donors who gave $1,000 and above doubled from 71 in FY2022/23 to 162 in FY2023/24. Income from ticketing also increased by about 23 per cent from about $3.83 million in FY2022/23 to $4.74 million in FY2023/24.

Total operating expenditure, however, rose from about $88.12 million to $95.01 million. This is primarily due to an amount of $8.82 million – about 9 per cent of the centre’s total expenditure – incurred under the category of impairment costs of investment in the subsidiary company Sistic.

The company holds a 51 per cent majority interest in Sistic, with Sport Singapore holding the remaining stake.

The impairment charge was recorded on its “investment costs in Sistic during the year which triggered a drawdown of $8.8 million from the investment grant account to fully match the impairment charge”. The report noted that Sistic “continued to face challenges in returning to profitability although revenue grew 15 per cent over last year”.

In its 21st year, the Esplanade refreshed several of its key programmes, including

turning the annual da:ns festival into a year-round da:ns focus series

and

a revamp of The Studios season

with a three-year focus on the theme of land.

The Esplanade’s chief executive Yvonne Tham wrote in the annual report: “Twenty-one is often a pivotal age in a young person’s life. It is a year that marks new responsibilities and opportunities. The same can be said for Esplanade – Theatres on the Bay’s 21st year as the national performing arts centre.”

NGS recorded over 3.59 million visitors – the highest since the museum opened in 2015 – to both its online and physical exhibitions. It also reported close to 1.85 million in-person visitors to the gallery,

an increase from 1.4 million in FY2022/23

and the second-highest figure in its history.

Income at the museum more than doubled from about $9.23 million in FY2022/23 to about $20.24 million in FY2023/24. There was an increase in income from almost all streams, including a doubling of income from admission fees to $3.05 million.

The gallery also saw a significant increase in contribution and cash donations from about $1.15 million to $7.14 million, as it extends its partnership with UOB for another five years. The biennial fund-raiser known as the Gallery Benefit raised a record-breaking $2.6 million.

Donations-in-kind also quadrupled from $460,016 to about $1.94 million.

Total expenditure rose from about $74.86 million in FY2022/23 to $87.29 million in FY2023/24. The biggest drivers of the increased expenditure included employee compensation, exhibition expenses as well as repairs and maintenance – all of which rose by more than $2 million.

The past financial year saw NGS put on the blockbuster exhibition Tropical: Stories From South-east Asia And Latin America, as well as See Me, See You, a two-part exhibition on early video installation in South-east Asia.

NGS director and chief executive Eugene Tan said in its annual report: “As we enter a new phase in the gallery’s development, we will look to new possibilities for dialogue and exchange with artists and art institutions in Singapore, South-east Asia and the world.”

Reports by both institutions emphasised programmes championing accessibility and wellness, reflecting broader trends in the arts sector.