Editor's view: The vastly different fortunes of ATG and Welsh National Opera tell you all you need to know about the state of theatre today

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Alistair Smith is editor of The Stage. He is also the author of two major industry reports (the London Theatre Report and the Theatre Workforce Review) and is the chair of theatre careers charity Get Into Theatre.

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The vastly different fortunes of ATG and Welsh National Opera tell you all you need to know about the state of theatre today

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