Classical music and symphonic orchestras have always been expensive endeavours requiring a healthy influx of money. Before the 20th century that support was coming almost exclusively from patronage. With the advent of the recording industry, a large influx of money from record sales allowed to develop a large industry around western classical music supporting many performers and orchestras.

The subscription model that has replaced album purchase has now destroyed the revenue stream for the classical industry. To make matter worse, most recordings from the last 50 years were recorded with great qualities making it hard for new recordings to stand out: you are effectively competing with huge catalog of high quality music available for next to nothing on the mainstream streaming services.

The end result is that orchestral formation are now back to be being dependant on donated money (individual donation, corporate patronage and public funds).

Genre requiring a single or few performers will probably be fine, but orchestras are so expensive due to the number of people involved they have no chance to make enough money just performing.

We should not be surprised to see more of lower tiers orchestra disappearing in the coming years.