Oracle's $10 Million Investment Pulls Nashville Symphony Back From the Brink

The Nashville Symphony has been given a reprieve. Only days after the organization announced it was suspending its season because of a financial emergency, technology company Oracle said it would invest $10 million in the symphony as part of a new strategic partnership.

The funding allows the symphony to keep operating and spares more than 100 musicians and staff members from furloughs that had been expected.

In a statement announcing the deal, Oracle CEO Clay Magouyrk tied the investment to the company's ties to the city. "Nashville is a city that understands how music can bring people together," he said. "We are part of this community and understand how important cultural institutions like this are to the residents of Nashville." He added that as Oracle builds its new headquarters on Nashville's East Bank, the company wants to "help solve the community's problems and ensure Nashville remains a vibrant place to live and work for generations to come."

The turnaround arrived quickly enough to surprise longtime supporters. Gregg McBride, a symphony patron, had spoken with NewsChannel 5 the week before, when the suspension was announced, seeking answers about refunds and what would happen to his tickets. The situation changed before that report could air. "I'm thinking, wow, this is a heck of a plot twist," McBride said.

McBride said his support for the orchestra goes back to childhood, when his mother advised him to live in a city big enough to have a symphony. "And I really just have taken that to heart," he said.

Dave Pomeroy of the Nashville Musicians Association said the news brought relief when he got the call. "It was certainly a big sigh of relief, not just for myself, but for all of the members of the symphony and the staff," he said.

Pomeroy also stressed that the money does not settle the symphony's finances for good. "This is a short-term band-aid that is essential, and we're excited about that," he said. "But we also know there's a lot of work to be done going forward." In his view, lasting success will depend on building a broader base of donors to supplement revenue from ticket sales.

Some patrons are still waiting for clarity. McBride said he received a notification that his tickets had been completely canceled and wonders whether he will have to secure the same seats again. "It's kind of wary right now," he said.

Even so, with the season back on track and jobs preserved, McBride said he is optimistic that the uncertainty will fade. "I look forward for things to be calm and smooth, like the sound of violins," he said.