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DAVID GREENE, HOST:

Across the country, symphony orchestras are fighting to survive. There are strikes, lockouts, even bankruptcy. Last month, musicians with the Atlanta Symphony ended a lockout by agreeing to more than $5 million in cuts to pay and benefits.

RENEE MONTAGNE, HOST:

And after more than a month of cancelled concerts, musicians with the Indianapolis Symphony Orchestra agreed on a new contract that includes a 32 percent pay cut. They host the season's first concert tonight.

GREENE: But maybe the biggest compact story is the world-renowned Philadelphia Orchestra, which is just emerging from bankruptcy. Tonight, its new 37-year-old music director takes the podium, as this venerable orchestra begins its reboot.

Jeff Lunden has the story,

JEFF LUNDEN, BYLINE: The Philadelphia Orchestra has been one of the world's greatest orchestras, since it was founded in 1900.

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LUNDEN: With famed music directors like Eugene Ormandy and Leopold Stokowski, Philadelphia's historic recordings feature a rich, warm sound which is the hallmark of the orchestra to this day. But despite its storied past, the orchestra fell on hard times; it had lost 40 percent of its audience, its endowment had dwindled and donations were down.

Still, when the orchestra declared bankruptcy in 2011, the news was met with disbelief, says Peter Dobrin, music critic for the Philadelphia Inquirer.

PETER DOBRIN: I don't think there's any question that what the Philadelphia Orchestra has gone through, in the past couple of years, has been shocking to the national orchestra community. I don't think that anybody ever thought a catastrophe of this sort could happen in Philadelphia.

LUNDEN: Within the ranks of the orchestra, the bankruptcy created great unrest, says David Kim, who's been concertmaster since 1999.

DAVID KIM: I can't lie and say that oh, yeah, everybody took it well, because I don't care what you do in life; if you're asked to take a major pay cut and your pension is gutted, it's a very, very jarring thing. Especially, if you come into an organization, like the Philadelphia Orchestra or the New York Yankees or Price-Waterhouse, and you think, all right, I've made it. I'm set now and suddenly the floor comes out from underneath you.

LUNDEN: President and CEO of the orchestra, Allison Vulgamore, came on board in 2010, just before the bankruptcy, to help right the ship. But as she quickly discovered the situation was dire.

ALLISON VULGAMORE: We were going to run out of cash. And so, it came the point of whether we fought for another day, with the world and our fiscal situation, so to speak, or we let that happen. And we were determined not to let the music stop.

LUNDEN: The orchestra was in bankruptcy reorganization for 18 months. During that time, they restructured their debt. They renegotiated their rent deal with the Kimmel Center, where they perform; they negotiated a new contract with the musicians, who took a pay cut of between 15 and 20 percent; and they moved to a more affordable pension fund.

All the while, they never stopped playing concerts, says John Koen, acting assistant principal cello.

JOHN KOEN: Our work is in emotions and we channel those emotions into our music. And I think that was kind of what saved us - musicians, the orchestra - during the time that the organization was in bankruptcy, is that we were putting, really, the vast majority of our emotional intensity, if you will, into our music making.

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LUNDEN: At the same time that finances were in distress, the orchestra had a key artistic vacancy; they didn't have a full-time music director. But during the bankruptcy, a young French Canadian conductor named Yannick Nezet-Seguin, got the job. He says, from the first time he picked up the baton to lead the orchestra, as a guest-conductor in 2008, the players made him feel welcome.

YANNICK NEZET-SEGUIN: There seemed to be no limits at all in the music-making and in the generosity of the involvement of the players, which I think is really the characteristic of this orchestra. So yes, it was also a love-fest...

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NEZET-SEGUIN: ...on my side!

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LUNDEN: The 37-year-old conductor brings a youthful energy and social media savvy to his new job - you can follow him on Facebook and Twitter. He's really connected with audiences and with the orchestra, says cellist John Koen.

KOEN: Yannick is the right person at the right time, because he's great, musically, which is of course, the number one priority. But he's also so good at all these other things. He's able to talk to different kinds of audiences, different kinds of people. And I think he's really been embraced by the city of Philadelphia.

LUNDEN: And Nezet-Seguin is key to bringing audiences and donors back to the orchestra, as it moves beyond bankruptcy, with a deficit of more than $14 million and the need to raise more money to strengthen the endowment.

Critic Peter Dobrin.

DOBRIN: He's absolutely critical to everything that happens onstage and offstage. He's critical to the fundraising, he's critical to ticket sales, he's critical to the quality of the ensemble continuing. And I suspect he is very persuasive with donors.

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LUNDEN: Even at the orchestra's darkest moments during the bankruptcy, audiences and donations picked up. Orchestra President Allison Vulgamore sees this as evidence of the organization's ability to rebound.

VULGAMORE: Many people thought what we have done has been impossible or would be impossible. We have now, ahead of us, truthfully, the very, very challenging, but the possible. That's a great new day for this orchestra.

LUNDEN: The Philadelphia Orchestra's new season begins tonight, as Yannick Nezet-Seguin leads a sold-out performance of the "Verdi Requiem."

For NPR News, I'm Jeff Lunden.

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MONTAGNE: And this is MORNING EDITION from NPR News. I'm Renee Montagne.

GREENE: And I'm David Greene.

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