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Rock Hall Posts Loss Last Year

October 14, 1998

CLEVELAND (AP) _ Declining attendance and revenue were the main reasons the Rock and Roll Hall of Fame and Museum lost $1.37 million last year, according to its first annual report.

The report shows revenues totaling $16.8 million in 1997, down 17 percent from the $20.3 million generated in 1996. Total expenses for the year were $18.2 million, compared with $16.4 million for 1996, said Don Tomoff, finance director for the hall.

``1996 was simply a huge year because the museum had just opened in 1995 and everyone wanted to see it,″ said Tomoff. ``So some dropoff is expected.″

The report said attendance at the private, not-for-profit museum fell from 867,000 in 1996 to 615,000 last year.

Janis Purdy, the hall’s interim executive director, said the report’s findings weren’t a cause for concern.

``You can think of the rock hall as a start-up new business,″ she said. ``To look at a loss in the overall complexity of the financial situation of a new enterprise can be misleading.″

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