Regional theaters are facing an uncertain future. Post-pandemic, they’re finding audiences are less drawn to the types of works regional theaters specialize in.

That’s left companies — such as the highly-regarded Steppenwolf in Chicago — staring down a fiscal hole.

“Steppenwolf, like many of our peers across the country, is known for bold, innovative, thought provoking work,” said Brooke Flanagan, executive director of the company. “And that work right now is not fitting in the Venn diagram of commercial viability.”

Flanagan said post COVID shutdown, audiences are more interested in lighter fare and familiar works. Historically, that’s a pattern similar to one seen after a period of war.

For Steppenwolf, which is focused on new plays, that’s meant the number of subscribers has shrunk 50% compared to 2019.

“People are looking for escapism, they’re looking for entertainment, they’re looking for shows that they know are going to be a feel good experience and a healing proposition,” Flanagan said.

Add to that competition from streaming platforms and less venturing into downtowns and art districts, and theater managers are not where they hoped to be.

In Los Angeles, Megan Pressman, who heads Center Theater Group, is grappling with this reality.

“The hits are still doing okay, they might still get a little bit dampened after COVID,’ said Pressman. “But the other the other shows, the kind of average shows, the averages are lower, and the lows are even lower. It’s really similar to what’s happening in movie theaters and cinemas.”

Smaller audiences can mean fewer donations for regional theaters, which are often non-profits.

At the same time, expenses are up. There’s higher labor costs for technicians and higher materials costs to make sets and costumes.

Meanwhile, the pandemic aid which many theaters relied on to make up for deficits over the last couple of years is ending. Aid like the shuttered venue operators grant.

“So we have to significantly cut back to basically work within our own means,” said Pressman. “That’s where we find ourselves now. So as a result, we’ve been shrinking programming and reducing our staff.”

Pressman also made a decision that’s shocked the theater world: canceling all performances indefinitely at Center Theater Group’s prestigious Mark Taper Forum in downtown Los Angeles.

It’s one of three venues the company operates, and the one most associated with groundbreaking works such as Angels in America, which premiered there.

“It’s a very complicated time for our theaters,” said Theresa Eyring. She heads the Theater Communications group — an industry research and advocacy firm.

Eyring said there’s more pain ahead.

“These organizations had, in general, closed earlier than a lot of other businesses and had to open later for various reasons,” she said. “It’s been a bit more difficult for our sector to rebalance. ”

In the immediate term, unless audiences return in big numbers, Eyring expects to see more regional theaters downsizing or closing altogether.