Genoa’s Carlo Felice Theatre seeks private investors to revive its fortunes

“This is how we communicate with business owners, and the figures give us cause for optimism: many local businesses have understood the initiative we are pursuing and have responded, even of their own accord. Furthermore, we have the support of the authorities,” says Galli.

The theatre has been through several difficult decades in terms of its finances and management, which have even led to the Foundation being placed under administration. ‘The Carlo Felice is one of the country’s 14 leading opera and symphony theatres, but it suffers from some fundamental issues, linked above all to the building’s perhaps excessive ambition, which is out of proportion to the city’s population density,’ observes Galli. The stunning design by Aldo Rossi, dating from the mid-1980s, was conceived in a Genoa that envisaged reaching a population of one million, whereas today the population stands at around 550,000. With 2,000 seats, the auditorium is one of the largest among Italian opera houses (the Comunale in Bologna, a city with a similar population, has 900 seats), furthermore, the building comprises 16 storeys above ground and three below, with extremely high routine and capital maintenance costs.

A great deal has been achieved over the last 12 months to contain costs and increase revenue: operational and management efficiency has been improved, and significant efforts have been made to engage with the public, institutions and schools. All this has led, and will continue to lead, to savings and, above all, to an increase in audience numbers, with an average attendance of 1,400–1,500 in 2025 and a rise in season ticket holders from 1,371 in the 2024–2025 season to 1,932 in the 2025–2026 season, whilst season ticket holders for the symphony season have risen from 117 to 388. Box office takings have also increased by 200,000 euros.

Despite this, 2025 – due to operating costs that are structurally higher than revenue – ended with a loss of 1.3 million euros, which was covered by drawing on the Foundation’s assets. Now, in order to break even in 2026 (or indeed, to make a profit of over one million, as per the budget), the contribution from private donors – which is expected to rise from 2.1 to 4.3 million euros – will be crucial.

And this is where the Custodi del Faro come in: ‘The new management has tackled costs and is now focusing on revenue, but in an opera house, the potential for audience growth is limited. Ticket sales currently generate around 2.6 million euros; this can be increased by up to 10 per cent, but it’s difficult to go beyond that,’ explains Andrea Compagnucci. There are other sources of income, such as venue hire or guided tours. But that’s not enough: to make a difference, both now and in the coming years, we also need contributions from businesses and professionals who believe in the revival and future of this theatre. I am certain we will succeed, not least because the city itself is undergoing major transformations, and I believe that the revival of the Carlo Felice will go hand in hand with the revival of Genoa.”