The Market Theatre in Newtown

RELATED LINKS: Market Theatre poised for dramatic comeback ALTHOUGH the fortunes of the Market Theatre have flagged in recent years, the city's best-known theatre and legendary launch pad of many of the country's famous "struggle productions" is poised for a dramatic comeback. Read more Market Theatre bangs the drum on its 30th birthday A MUSICAL smorgasbord was lined up to celebrate the Market Theatre's 30th birthday. And Pieter Dirk Uys wrote a play especially for the occasion. Read more Theatre HOMEGROWN South African theatre is alive and well, as evidenced by the myriad productions staged at the National Arts Festival in Grahamstown in July each year. Many of these travel the country afterwards, often ending up at Johannesburg's famous Market Theatre or at the Civic Theatre. Read more Newtown: your guide AT the turn of the 20th century, the Newtown precinct was originally known as the Brickfields. Today it is the city's cultural centre. Read more

Market Theatre posts strong growth There has been staggering growth at the Market Theatre, with its capital and reserves up a massive 600 percent in just four years. November 6, 2007 By Ndaba Dlamini FOR the third consecutive year, the Market Theatre has scooped the award for best annual report at the 2007 Governance and Compliance Workshop. The award recognises commitment to good corporate governance; it was handed to the theatre by the national Department of Arts and Culture on 30 October. Sibongiseni Mkhize, the Market Theatre's managing director, says winning it was thanks to the hard work of management and staff. "Since 2004, there has been a turnaround in the way the Market Theatre is managed. It's been hard work and as management, we made sure there was commitment from staff to make the Market Theatre a successful organisation." After going through a rough patch before 2004, the Market Theatre received a new lease of life when Mkhize took over the reins as managing director and well-known academic and theatre fundi Malcolm Purkey took up the post of artistic director. The new team's first priority was to get the theatre out of debt, according to Mkhize. "Thanks to hard work from Christine McDonald and the finance department, the theatre managed to register good financial results in the financial year ending 2005." And its financial results have improved in leaps and bounds since then. Results for the financial year ending on 31 March were recently released, continuing the upwards trend. Total capital and reserves increased from a deficit of R2-million in 2003 to R10-million in 2007 - a rise of 600 percent. Fixed assets increased from R4,8-million in 2003 to R7,7-million in 2007 – up 60 percent. An incredible change occurred in the Market Theatre's bank balances and cash inflow, which registered an increase of 1 120 percent, from R82 000 in 2003 to R10-million in 2007.Total income increased from R18-million to R31-million. Total income increased from R18-million to R31-million. But it is not only the financial figures that have shown an upward trend. In 2003 there were just 14 productions; this year there were 25. Audience figures also rose, from 41 000 to 64 000 over the same period. Mkhize says that the improved financial health and performance must be seen against the Market's overall "non-profit" objective. "The Market Theatre's success has been achieved through increased fundraising, increased own income generation, increased efficiency and disciplined cost control." The support the Market Theatre has received from individuals and various organisations has been tremendous, he says. In addition, its two subsidiaries, the Market Photo Workshop and the Laboratory, "have been growing in structure and have contributed tremendously to the Market Theatre's success story". But there is no time for rest, either. "In about five years' time, we want to see the Market Theatre being a world-class theatre," Mkhize concludes. Permission to use web site material Publishers may use material from this site free of charge, as long as: Credit is given to either the "City of Johannesburg website (www.joburg.org.za)" or to "Johannesburg News Agency (www.joburg.org.za)"; If the article is used online, a link is provided to the original article on this website; The name of the article's author is acknowledged; The webmaster is informed of how and where the material is used (fill in this brief online form). Johannesburg News Agency is operated by BIG Media at 011-484-1400 Print this Page E-mail this article to a friend Help using Joburg.org.za