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A decline in donations and the precarious state of the stock market has sunk the Metropolitan Opera's net assets by a whopping 38 percent, according to its most recent financial statements.

In an interview on Thursday Peter Gelb, the Met's general manager, said the opera's high-definition transmissions of live performances into movie theaters has more than doubled the paying opera audience and last year brought in gross sales of $45 million. Next season the Met plans to present 12 live high-definition productions, up from 9, as well as 7 new stage productions.

 

"We are struggling financially, thriving artistically, and we will continue to flourish," Mr. Gelb said. "At a time when it is increasingly difficult to keep the Met -- which is the largest performing arts company in the world -- viable, we are finding ways to do so."