Firstly, may I wish all my readers a really great 2008. I have started the new year with a stinking cold, and absolutely exhausted at the end of 45 pantomime performances at the Swan, as well as a busy Christmas season at the Hall.

I am already looking forward to the second week of 2008 in the hope that it might be better than the first! Actually, as an organisation, we have not had a good autumn. Artistically, it has been terrific, but financially not good, with audiences well down.

Now that, at first sight, may seem a contradiction - in theory, surely having a strong programme should bring in large audiences? Well, often that will be the case, but this autumn has been different. A series of economic factors, among them the Northern Rock collapse, rising interest rates and money generally going tight, has meant that people have been spending less. When people spend less, it is always the case that one of the first things that goes is venue-based entertainment (statistics show that people spend more on alcohol and stay at home watching the television or videos).

One of the telling things is that my colleagues in theatres and concert halls all round the country are also reporting poor sales in the autumn, which only makes me feel very slightly better.

Several theatres including Derby Playhouse have gone into administration, and I fear there will be many more casualties as there have also been some big Arts Council cuts at the back-end of 2007.

So here's to a good 2008. I for one hope the economy gets stronger soon.

CHRIS JAEGER IS CHIEF EXECUTIVE OF WORCESTER LIVE