LEICESTER’S largest arts venue has recorded its best financial performance to date, with increased income and improved efficiency allowing it to reduce its reliance on local council taxpayers by £1m.
According to a report presented to the city council’s culture and neighbourhoods’ scrutiny commission, the net annual cost of running De Montfort Hall has fallen from £1.3m in 2015 to just £247,000 in 2025.
A rigorously commercial approach over the last 10 years has put the hall on a much-improved financial footing, with the venue increasing its turnover by £1.2m last year.
The city council-run hall recorded a turnover of £6.5m in 2024-25, with 241 live events and a total of 228,821 tickets sold.
Assistant city mayor Cllr Vi Dempster said: “Not so long ago, De Montfort Hall was a constant financial worry for the city council, and questions were often asked about how it was being run and whether it was viable.
“But things have dramatically turned around over the last decade, thanks to a management team that has reduced costs and increased ticket sales, while introducing a programme of popular events that people from across Leicester and Leicestershire want to see.
“I’m very proud that this wonderful old venue is back on a sound financial footing and will continue to serve our city for generations to come.”
De Montfort Hall’s improved performance has also created the capacity for it to support the reopening and management of the city’s Haymarket Theatre.
The 1970s theatre - which largely lay empty after the Leicester Theatre Trust moved to Curve in 2008 - transferred to the city council’s ownership in 2021, when the council bought the theatre as part of its purchase of the Haymarket shopping centre.
It now operates as a venue for the teaching and learning of the arts.
Long-term agreements are now in place with both Addict Dance Academy and Leicestershire Music, which mean that up to 850 young people are using the theatre’s dance studios, stage and rehearsal rooms each week.
With the Haymarket Theatre and De Montfort Hall now being run as an integrated service, increased efficiency and economies of scale have succeeded in making their combined operation cost-neutral to the council.
Cllr Dempster said: “The Haymarket Theatre is an iconic Leicester venue that was simply abandoned without a plan when Curve opened.
“It was a huge drain on our resources for many years, so I’m delighted that we’ve now been able to secure a long-term, sustainable use for it, supporting young people at the start of their careers.
“I look forward to building on this great start, and seeing more dance, music and arts groups using the theatre, and welcoming the people of Leicester and Leicestershire back into this amazing space.”
Antony Flint, who has been venue director at De Montfort Hall since 2012, said: “I’m really pleased with what the hall has become, as it now works both as a business and a well-maintained, welcoming and thriving concert hall that is loved by the audiences and the artists who visit us.
“Alongside this, Leicester Haymarket Theatre now presents a unique opportunity for us to revitalise another venue and support the next generation of dancers, musicians and theatre professionals across the city.
“It is a rare privilege to be entrusted with the stewardship of one, let alone two of Leicester’s most iconic buildings. Making them financially viable and artistically vibrant is a significant achievement, and testament to the dedication, talent and hard work of the entire team.”