Sejong Center for the Performing Arts Surpasses 20 Billion Won in Self-Generated Revenue for the First Time

18% Increase Compared to Last Year
Subsidiary Arts Troupes' Performance Revenue Up 57%

Sejong Center for the Performing Arts announced on the 23rd that it has surpassed 20 billion KRW in self-generated revenue for the first time since its incorporation in 1999.

According to the settlement of income and expenditure for last year, Sejong Center reported that its self-generated revenue, consisting of ticket sales, venue rental fees, and lease income, reached 21.9 billion KRW, an 18% (3.4 billion KRW) increase compared to the previous year.

Last year's self-generated revenue was recorded at 11.2 billion KRW from performances and venue rentals, a 12% increase from the previous year, and 10.7 billion KRW from other income such as sponsorships and store leases, a 23% increase. Performance revenue reached 7.6 billion KRW, up 14% from the previous year. Among the performance revenue, the six affiliated Seoul Metropolitan Arts Groups (Seoul Metropolitan Traditional Orchestra, Theater Company, Dance Company, Musical Company, Opera Company, and Choir) saw their performance revenue rise significantly by 57% (1.2 billion KRW), from 2.1 billion KRW in 2022 to 3.3 billion KRW last year.

Seoul City Dance Company 'Ilmu' Performance [Photo by Sejong Center for the Performing Arts]

In February 2022, the second year of President Ahn Ho-sang’s tenure, Sejong Center declared a shift from being primarily a rental venue to becoming a 'production theater.' Since then, it has increased the proportion of self-produced performances centered on the six Seoul Metropolitan Arts Groups and focused on improving performance quality.

Last year, the number of paid attendees at Sejong Center reached 495,537, recovering to the pre-COVID-19 level of 497,320 in 2019. In 2023, the total audience for the six affiliated arts groups was 86,275, a 46% increase compared to 59,222 in 2022. Performances by the affiliated arts groups such as Seoul Metropolitan Dance Company’s Ilmu, Seoul Metropolitan Opera Company’s Turandot, Seoul Metropolitan Musical Company’s Again, Spring, Seoul Metropolitan Choir’s Era of Art Songs, and Seoul Metropolitan Theater Company’s Kiss were sold out. Notably, Ilmu achieved great success by selling out all performances at New York’s Lincoln Center.

Entering the third year of its vision as an 'arts group-centered production theater,' Sejong Center plans to continue efforts to revitalize the performance ecosystem and engage audiences through unique creative performances that differentiate it from the private sector.

At a business presentation on the 9th, Sejong Center stated, "We will consistently introduce a 'new theater experience' to audiences through differentiated viewing services compared to existing venues." The vision of Sejong Center as a production theater will continue this year as well. Through Sejong Season performances, outdoor shows, and SyncNext24, the center will persist in efforts to reduce the distance between citizens and culture and arts. The 2024 Sejong Season plans 29 productions with 229 performances centered on the six affiliated Seoul Metropolitan Arts Groups.

President Ahn Ho-sang of Sejong Center said, "Surpassing 20 billion KRW in self-generated revenue for the first time since incorporation was also helped by opening the first floor of Sejong Center wide open along with the opening of Gwanghwamun Square, creating a friendly image for citizens." He added, "Going forward, Sejong Center will provide differentiated artistic content so that citizens can feel pride in living in Seoul and develop into the best artistic space offering unique experiences."

Founded as a foundation corporation in 1999, Sejong Center is a Seoul Metropolitan Government-funded institution receiving annual financial support in the form of grants from the city. While operating the Seoul Metropolitan Arts Groups focused on pure arts, Sejong Center also consistently carries out arts education projects and social contribution activities.