Nashville Symphony Declares ‘Financial Emergency’ and Announces Plan to Address Crisis, Secure Long-Term Future

NASHVILLE, Tenn. — The Nashville Symphony today announced the first step of a restructuring plan to address a $10 million deficit in its current fiscal year operating budget, a step organization leaders say is necessary to secure the long-term future of one of Nashville's most treasured cultural institutions.

The resolution, unanimously approved by the Nashville Symphony Board of Directors on Sept. 28, declares a “financial emergency” and includes the suspension of the 2026-27 season, effective Oct. 18, and the furlough of 27 full-time staff positions and all 77 members of the orchestra. The Symphony’s two signature fundraising events — the Symphony Ball on Dec. 12 and the Symphony Fashion Show on April 27 — will proceed as planned, as will five previously announced independent productions: The Legendary Life of Tom Petty (Oct. 18), No Small Endeavor LIVE (Nov. 22), Ricky Skaggs and Kentucky Thunder Christmas (Dec. 8), A Very Dave Barnes Christmas (Dec. 10), and Drew and Ellie Holcomb’s Neighborly Christmas (Dec. 11). Schermerhorn Symphony Center will remain available for private event bookings and rentals during the restructuring period. Previously booked weddings and events remain unaffected.

Symphony leadership acknowledged that, over time, the organization’s cost structure and revenue base have become increasingly misaligned.

“The Nashville Symphony’s present circumstances demand plain speaking. For years, this institution has operated on a financial foundation that could not sustain it,” said Mark Cantrell, President and CEO of the Nashville Symphony. “The extraordinary generosity of one donor sustained the organization, but that generosity was never a substitute for the broad community support and sound financial stewardship its future requires. Structural deficits persisted, and the necessary changes were not made. The responsibility of new leadership is to confront that history honestly and remedy the conditions that brought us here.”

Cantrell, who was appointed President and CEO in August 2026, said the work ahead must begin with candor and a shared commitment to restoring the orchestra’s service to the community.

“The excellence of this orchestra and the artistry of its musicians have never been in question,” Cantrell continued. “The organization has exhausted its cash and cannot continue operating as it has. Suspending concerts and furloughing colleagues impose profound hardship on people who have given this institution their talent, their labor and their trust. We owe them about what has happened and urgency in the work of setting it right.”

Cantrell said a comprehensive restructuring plan, which will continue to develop in the coming months, will be a collaborative effort by the Symphony’s senior leadership, the board of directors, and the musicians.

“I have spoken with the union, and our musicians and their representatives have expressed the desire to work closely with management toward a solution,” said Cantrell. “We share a clear purpose: to resolve this situation as quickly as possible and return to bringing concerts to our community. Their willingness to undertake this difficult work together gives us a meaningful foundation on which to proceed. Our task is to build an institution capable of sustaining excellence on its stage and honoring its obligations to those who make that excellence possible. We must act with all possible speed, while making changes that will endure. Nashville deserves a flourishing orchestra, and our responsibility is to work together to secure its return and its future.”

“As I process this difficult situation, I am filled with deep gratitude for everyone who has poured their talent, care, and dedication into this orchestra,” said Leonard Slatkin, Nashville Symphony music director. “Although my final concerts this season will take place on October 16-17, I intend to remain the Nashville Symphony’s music director, and I am committed to walking alongside our musicians, staff, board, and community as we work toward our return.”

Board Chair Teresa Sebastian, elected in August 2026, said the board's unanimous vote reflects a shared resolve to use this period to fundamentally rebuild the organization.

“Our board's job is to be honest about where we are and clear-eyed about what it will take to move forward, and that's exactly what this plan represents,” said Sebastian. “We are committed to building a Nashville Symphony that is not just artistically excellent, but financially strong and sustainable for generations to come. That means a new direction from our leadership, new discipline around fundraising and revenue growth, and a long-term plan we can stand behind.”

As part of the restructuring, Symphony leadership is building out new strategic plans for fundraising and revenue growth that are designed to correct the gaps that led to this year’s shortfall, including diversifying the organization’s donor base and establishing a stronger long-term endowment strategy.

“We are asking our community for patience and trust as we do this work,” Sebastian said. “In return, we are committing to transparency, accountability, and a Nashville Symphony that our city can be proud of — not just this year, but for decades to come.”

Individuals or groups who have purchased tickets to a concert in the 2026-27 season can apply the credit toward a future performance or can convert their ticket value to a tax-deductible donation to the Nashville Symphony. Additional ticket inquiries can be sent to [email protected].

For media inquiries, please contact Nancy Floyd at [email protected] or 317-385-7400.

About the Nashville Symphony

The Nashville Symphony inspires and engages audiences across Middle Tennessee with extraordinary live orchestral music experiences. Founded in 1946, the Symphony is celebrated for its commitment to contemporary American orchestral music, innovative programming across genres, and a prolific recording legacy, earning 14 GRAMMY® Awards and 27 nominations. Today, the Symphony performs in the world-class, acoustically superb Schermerhorn Symphony Center, and reaches nearly 550,000 Middle Tennesseans annually through its free and low-cost education and community programs. Globally, the orchestra connects with almost 13 million listeners worldwide through its recordings, broadcasts, and streaming activities. The Nashville Symphony is a nonprofit organization dedicated to enriching its community and inspiring the next generation of music lovers. Learn more at nashvillesymphony.org.

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