Queensland Ballet has reported a total comprehensive deficit of $9.45 million for the 2024–25 financial year, marking one of the most financially challenging periods in the company’s recent history. Despite this, the company’s leadership has expressed optimism for the future, outlining a renewed focus on community, artistic collaboration and long-term sustainability.
According to its 2024–25 Annual Report, the deficit includes an $8.6 million operating shortfall, with the remaining loss attributed to financing costs related to the redevelopment of its home, the Thomas Dixon Centre. In contrast, the company posted a $1.57 million deficit the previous year.
“Heading into 2025, we made purposeful decisions to position Queensland Ballet for a strong and sustainable future,” said Executive Director Dilshani Weerasinghe. “We’ve taken decisive steps to reset our cost base, diversify revenue, and embed a leadership vision that is already inspiring confidence across the Company and its supporter family.”
That vision includes new leadership under Artistic Director Ivan Gil-Ortega, who steps into the role following a turbulent period marked by the departures of Li Cunxin AO and, subsequently, Leanne Benjamin AM OBE. The company also acknowledged the loss of major philanthropic champions, including Kay Van Norton Poche AO, which contributed to a temporary softening in donations.
A significant organisational restructure saw the reduction of 27 roles, including eight dancers. While the changes were managed in part through voluntary redundancies and internal realignment, Queensland Ballet also bid farewell to long-serving figures such as Acting Artistic Director Greg Horsman and Music Director Nigel Gaynor.
Despite these setbacks, the company continued to deliver strong community engagement and artistic achievement. The 2024 season reached more than 60,000 people across performances, workshops, and health programs. Highlights included the sold-out season of Coco Chanel: The Life of a Fashion Icon, record-breaking box office results for The Nutcracker, and the debut of the Ballet Boys Project to support male participation in dance.
In 2024, Queensland Ballet invested $19 million into artists and arts workers, with $4 million directed towards independent creatives through its Academy and artistic programs. The company also achieved 13% growth in box office revenue and continued its regional expansion, reaching 40 communities across Queensland.
The redeveloped Thomas Dixon Centre has become a key part of the company’s long-term sustainability strategy. Now operating as a cultural and commercial hub, it is expected to generate increased revenue through hospitality, events and partnerships. Queensland Ballet was also the first performing arts organisation in the world to achieve WELL Certification at the Platinum level, recognising its commitment to health and wellbeing.
Board Chair Brett Clark said the company remains focused on relevance and impact. “If we are relevant to our audiences, they will fill our theatres. If we are relevant to artists, they will choose to create and perform with us. And if we are relevant to our communities, they will support, participate, and belong.”
As Queensland Ballet looks ahead to its 2025 and 2026 seasons, the outlook is one of cautious optimism. Programming will grow under Gil-Ortega’s leadership, and the company will deepen its ties with regional Queensland and community health initiatives.
“At the heart of my approach is creative partnership – between art forms, artists and our community,” said Gil-Ortega. “Our 2026 season will bring together diverse voices and bold ideas to create work that is emotionally resonant, ambitious and reflective of Queensland’s creative identity.”
You can read the complete report here.