Each interstate visitor who comes to the capital to see a show at the Canberra Theatre Centre is worth an average $523 to the territory economy, the ACT government believes.
More than 32,000 out-of-town visitors came to Canberra to see productions at the theatre centre in the last financial year, with a total estimated expenditure of $16.8 million in the ACT.
The Cultural Facilities Corporation cites the figures from research conducted by Orima Research.
The ACT government spent $10.2 million on the Cultural Facilities Corporation in 2022-23, meaning it gets a return for the territory economy, just from interstate theatre visitors, of about $1.64 for every dollar spent on the corporation.
The corporation recorded 383,026 visitors to its facilities and programs in 2022-23, a 46 per cent improvement on its target.
The corporation received more than half of its revenue from external sources, primarily ticket sales and venue hire, exceeding a 49.8 per cent target.
However, the corporation posted an operating deficit of $3.158 million, almost 16 per cent higher than it had budgeted for and $1.77 million higher than the 2021-22 deficit.
The corporation posted a $3.7 million deficit in 2020, after the onset of the COVID-19 pandemic.
"The higher than estimated deficit was primarily due to additional accrued employee expenses for expected increases from the enterprise bargaining agreement," the annual report said.
The Canberra Theatre Centre recorded 270,968 visitors across 489 performances in the 2022-23 financial year, the Cultural Facilities Corporation annual report said.
While 82 per cent of visitors were from Canberra, Jerrabomberra or Queanbeyan, 16 per cent came from other parts of NSW and 2 per cent from elsewhere in Australia.
The cost to the ACT government per visitor across the Cultural Facilities Corporation's venues and events fell from $55.44 in 2021-22 to $26.30 in 2022-23.
The corporation reported $13.4 million in revenue from the sale of goods and services, primarily ticket sales and venue hire.
Public consultation has begun to inform plans for a new theatre in the city centre, which the government believes will drive more tourists to the city and provide an economic boost for retail and hospitality businesses, along with the night-time economy.
The government earlier this month said the consultation process would allow the design team to understand what the community wanted from live performance experiences.
Architectus, Danish architects Henning Larsen and theatre designers Arup were appointed in May to lead the work to design the new 2000-seat theatre, which the government has said would attract larger productions to Canberra.
The project will require public investment worth several hundred million dollars and the ACT would approach the Commonwealth for funding but that was not necessary for the project to go ahead, Chief Minister Andrew Barr said at the time.
Mr Barr has also previously said a government-supported theatre company could take up residence in the expanded theatre precinct, developing new works for the stage and providing professional opportunities for performing artists.
"The ACT government gives millions of dollars each year to football clubs, so I don't see why there can't be some for a theatre company," Mr Barr said in March.
