Mid-year conditions for most venue managers are steady compared to last quarter and the average of 2014. Sixty-five percent of industry professionals say that overall current business conditions are positive, comparable to 62 percent last quarter and 64 percent for all of 2014. This indicates a stable marketplace overall, except for arenas, which report a bit of positive news. Arena professionals seeing positive business conditions have increased by 17 percent since the first quarter—from 49 percent to 66 percent—and those indicating negative current conditions dropped from 23 percent to 16 percent. Compare this also to the 2014 averages of 56 percent positive conditions and 17 percent negative.

For the overall industry, business outlooks are also stable to positive, with a slight increase in those predicting net increases in business conditions for the coming year from 70 percent in Q1 to 77 percent in Q2—consistent with the 2014 average of 77 percent. And few (11 percent) are currently forecasting net decreases in the marketplace in general.

In the Seats
General attendance across venues reflects these steady business conditions, with half (51 percent) of professionals currently reporting increases in attendance, compared with the 2014 average of 54 percent. However, for this quarter, the trend seems to be toward flat attendance, with 30 percent of managers reporting level attendance compared to 18 percent in Q1. That said, outlooks are rosier for attendance than what current conditions show. More than two-thirds (70 percent) of venue professionals foresee increasing attendance in the months ahead, and this number has been consistent for months and is level with the average of expectations for all of 2014.

Money, Money, Money
Revenue dollars tell a similar story. Currently, 65 percent of venue managers say they are seeing a positive increase in net revenue, 21 percent say revenue is flat, and just 15 percent say numbers are down year-on-year. There includes a slight movement up to level quarter on quarter; in Q1 a full quarter of industry professionals reported decreases in revenue over 2014 numbers. For the next year, 70 percent of venue managers expect net increases in revenue, and only 15 percent predict that their numbers will fall.

The Analysis?
Business is steady, and that’s good for business. There aren’t many variances in the marketplace at this time, nor have there been for the last year or so. For most industry venues this is positive news (especially for arenas). And outlooks for the next year continue to be optimistic, as the majority of industry leaders predict better business conditions, more revenue, and higher attendance for the next 12 months.

For sector specific information, please download the April-June 2015 Business Barometer, provided by VenueDataSource for free.

If you have any questions, contact Frank Ingoglia. If your organization does not allow you to use Dropbox, send an email and we’ll attach the report for you.

Why not use your association’s expertise and resources to survey your customers, staff, or stakeholders for a fraction of the cost you would pay anywhere else? You have access to a research professional with 35 years of experience to design your questions. Why pay more for someone with less experience? How could your organization benefit? Here are just three examples:

1) When trying to decide which events to host, your customer base could quickly be surveyed to determine which event is most preferred.

2) How satisfied are your patrons? What type of experience did attendees have at your last event?

3) How is your product rated by current and potential customers? Is your target market aware of your company?

Email Frank Ingoglia, IAVM’s research manager, to discuss how low-cost online surveys could improve your organization’s decision-making.

Not a member of IAVM? That’s OK, feel free to contact Frank to discuss.

Rio Tinto Stadium, home of Real Salt Lake (Major League Soccer) installed nearly 6,500 solar panels to offset 73 percent of Real Salt Lake’s total annual stadium power needs. It’s the largest offset among North American professional sports and entertainment venues.

“Auric Solar’s expertise and innovation have made them the perfect partners to convert Rio Tinto Stadium toward energy self-sufficiency in the venue’s seventh year, while also improving our fan experience with the addition of covered and lit parking,” said Andrew Carroll, chief business officer for Real Salt Lake, in a statement. “Our unique ability to assist Auric Solar in building brand awareness, both locally and across the industry, makes this partnership fully-integrated, mutually-beneficial, and uniquely symbiotic. The entire Auric team – led by founders Trent Vansice and Jess Phillips – consists of great people, providing all of the ingredients for an exceptional long-term partnership.”

The project only took six months to complete and includes enough panels to cover the entire field at the stadium. The 2,020-kilowatt system of solar panels were installed on the stadium as well as new covered parking areas as seen in the picture below.

Although a soccer specific stadium with just over 20,000 seats, Rio Tinto Stadium now boasts the fourth-largest solar array of any professional sports stadium in the U.S.

(Top image: Jeremy Piehler/Creative Commons)

Spectra by Comcast Spectacor has launched Spectra Presents, a live event touring and promotion service, Ray Waddell reported for Billboard.

“Former Global Spectrum (now Spectra Venue Management) vp of Bookings Brock Jones will lead Spectra Presents as senior vp of Concert Touring and Events,” Waddell wrote. “Spectra Presents will bring live entertainment content to arenas, performing arts centers, theaters, convention centers, and fairgrounds across North America. The focus will be on venues in secondary and tertiary markets, regardless of whether or not they are clients of Spectra by Comcast Spectacor.”

Spectra Presents plans to be open to a variety of touring opportunities and will deal directly with agents in acquiring acts. However, Jones said that venues need to be prepared to collaborate.

“The financial realities of the touring paradigm necessitate venues co-promote dates,” Jones told Waddell. “It’s imperative that risk is shared and mitigated. I need venues to be my partners, not passengers.”

Please visit Billboard for more on the story.

These are selected news articles that showed up in our inboxes on Monday morning that we want to pass along to you.

Three Cricket All-Star Series Matches to be Held at MLB Stadiums in November (ESPN)
“The group will play at Citi Field (Nov. 7), Minute Maid Park (Nov. 11) and Dodger Stadium (Nov. 14).”

Greater Columbus Convention Center Opens First Section of its Renovated Meeting Space (Exhibitor)
“The first section of renovated meeting space at the SMG-managed Greater Columbus Convention Center has been completed and already hosted events for both the Minor League Baseball Promotional Seminar 2015 and the Materials Science & Technology (M S & T) 2015 Conference and Exhibition.”

URTA Sponsors New Arts Leadership Initiative (American Theatre)
“Thanks to a generous sponsorship from the Westin Michigan Avenue (the site of URTA’s National Unified Auditions and Interviews in Chicago), the newly-instituted Arts Leadership Initiative will allow URTA candidates in theatre management to waive their application fees and participate in free seminars and workshops.”

Indiana Convention Center & Lucas Oil Stadium Extends Contract with Smart City Networks (Nevada Business)
“Under the new contract, Smart City will continue to offer a full suite of services at the facilities, including high-speed Internet access, network cabling, high-density WiFi and turnkey data networking services.”

Disney Is Looking at Surge Pricing to Better Control Crowds (Skift)
“The pricing move is an attempt to thin crowds during summer weekends and holidays including Thanksgiving and winter break between Christmas and January 1.”

(Image: Pulkit Sinha/Creative Commons)