The Met Opera Turns to Saudi Arabia to Help Solve Its Financial Woes
The Metropolitan Opera (The Met) has turned to Saudi Arabia to help address its financial challenges brought on by the COVID-19 pandemic. The opera house has withdrawn $120 million from its endowment since the start of the pandemic, leading it to seek alternative revenue sources. The Met has reached a deal to perform in Saudi Arabia for three weeks each winter, a lucrative arrangement that is expected to provide a significant financial boost. This partnership with Saudi Arabia comes as the opera house faces ongoing financial pressures, with the pandemic significantly reducing ticket sales and overall revenue. The decision to collaborate with Saudi Arabia has been met with some criticism, given the country's human rights record. However, The Met's leadership has defended the move, stating that it is necessary to ensure the opera house's long-term sustainability and continued operations.
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