Merrigong Theatre director Simon Hinton said the company's balance sheet has stayed in the black throughout the pandemic but expected 2022 to be filled with disruptions and harder to keep the finances in check.

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"Without government subsidy we would have lost several million dollars over last couple of years ... it's been massive in stemming the bleeding," Mr Hinton said.

"We would have ended the last two years without having lost money on the balance sheet, but it's tricky to say with confidence [how the next year will go] because we don't know how long the market will be soft for. We're definitely entering a different stage."

He said Merrigong had tried to plan for uncertainty during the upcoming season and employed a strategy to do more shows outdoors - such as The Sirens Return and Shakespeare in the Gardens - as well as at bigger venues.

However, he wasn't expecting record sales through the box office this year with the trend for people to purchase tickets last minute coupled with unplanned cancellations as a result of employees testing positive.

"We're quite pleased with sales but we're also pretty realistic about it being an uncertain time," he said.

"[Other theatre companies] feel sales are slower than maybe they'd like, but it's certainly not disastrous ... in saying that, we aren't counting on things selling through the roof."

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As with all industries at present, staffing is becoming a problem with the arts sector with so many people either sick with COVID or in isolation.

Mr Hinton envisaged disruptions to continue with the odd performance needing to be cancelled or perhaps several, but said all patrons would get a refund.

He also noted that NSW Health didn't see theatres as high risk settings with audiences seated in a "controlled" environment all facing forwards, wearing masks, and people generally only mingling with the group they have gone with.

"I wish we had a crystal ball to tell us what happens, like everybody at the moment, the hardest thing to deal with in our business is uncertainty," the creative said.

Currently Merrigong is keeping in line with recommendations by NSW Health - such as their staff being double vaccinated and wearing masks - but they do not require theatre-goers to be double vaccinated to see a show.

If all goes to plan, in the next fortnight the company will announce more shows scheduled for the popular Spiegeltent which returns to the Arts Precinct this March, and the full program by the end of January.

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