Met Opera says $31M on tax return is mostly pledges

The Metropolitan Opera says a positive $31 million on its latest tax return is mostly money pledged for future seasons that the company has not yet received. The company’s tax return for the year ending last July 31 showed revenue fell by $13 million for the season that included the initial months of the pandemic and salaries dropped by $41 million. The Met said it operated at a balance budget in 2019-20. Music director Yannick Nézet-Séguin earned $915,571, up from $392,152 in the fiscal year ending July 31, 2019. Met general manager Peter Gelb earned $1.46 million.