At the intersection of optimism and uncertainty: a continued recovery harbors some worrisome omens.(SPECIAL REPORT: THEATRE FACTS 2005)

IS THE GLASS HALF FULL OR HALF EMPTY? That's the question one might ask after skimming through Theatre Facts 2005, the latest edition of TCG's annual report on the not-for-profit theatre's fiscal health. On the one hand, the document bears some glad tidings: The financial turnaround that was detectable in the industry in 2004, after a notably rocky period following 9/11, has in some respects continued.

The majority of theatres ended the year in the black, and most of those that didn't sustained deficits that were less severe than in the previous two years. After adjusting for ...

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