SPTE 640 Midterm (Ch. 1 - 5)

Safety and Security -

goal: keep guests users, and employees safe evaluate risks and threats associated with venue operatoins during event production ongoing process within which there is always potential for threats which may present themselves in variety of forms and degrees of severity.

Ticketing and Access Managment

history- color coded- pottery shards. use ticket services for financial accounting and inventory control issuing tickets helps address issues common to virtually every venue type issues: managing and controlling adminssion to venue while providing a level of financial accountability for parties involved with presenting and managing the event tickets provie safe. efficient movement of people .. while communicating venue and event specific info. can also provide revenue advertisements provide with accurate acuonting of revnue generated for each ticket... accounts for all taxes collected on behalf of local or state authority and any ancillary revenues generated through service charges Venue ticket office manager works closely with event promoters and tenants to establish the ticket price of the various seating locations within the venue valuing seat location SCALING HTE HOUSE ticket manager- ensure matches with ADA secondary resale market - forces venue manager , pomoters and sprots teams to reconsider their ticketing prices as well as distribution systems THE FUTURE_ involves generating ancillary revenue through the sale of roducts and services at the time of the ticket transaction

Tenative

hold simply tells the booking manager the promoter is interested in leasing the venue

Cost accounting

identifies and isolate every venue financial activity & determines the associated costs p. 54

Operating Budget

identifies anticipated annual operating revenues & expenses, identifies resources allocated to fund shortfalls, & provides management with a monthly report & analysis of current year to date revenue & expenses as compared to actual budget p. 50-52

Capital Improvement budget

identifies projected major expenditures -process of identifying, evaluating, & selecting projects or equipment that requires the commitment of significant funds & generates benefits stretching well into the future

Complex

* COmbination of two or more facilities *managed by a single entity * generally have same ppl managing . * (combined financial reporting)

Convention Center

* Exhibit & meeting space * large flat space *breakout rooms * internationally may be called conference centers *convetions, trade shows, consumer shows, banquets, receptions, meetings, and major local events, exhibition halls.. most often part of a convention center and celings may be up to 1000000 or more square feet 25 to 35 feet in height .. most are 60,000 to 200,000 sq. ft.

Auditorium

* Permanent Stage *Permanent & portable seating * flat floor***** *multipurpose venue * stage at one end and balcony on one or both ends. * small concerts, community events, religious meetings , small sporting events, and stage presentations

Amphitheaters

* open air w/ stage * permanent seating *lawn or portable * typical: concerts, stage presentations, and community events

Racetracks

* single purpose venues * aquatic center = single purpose *velodrome * racetrack * charlotte. concord NC * indoor or outdoor * on occasion host other events

Naming rights

*May be a critical component in funding new construction or revitalization of a venue, or it may be treated as operating income. * also sig. part in economic mix to attract or retain major or minor league teams *vary in length and magnitude based upon a # of factors like: venue size, type, location, and tenants. * small arena- in secondary market w/ minor league tenant = around $100,000 annually for 10 years *stadium in major market w/ nfl team = around $ 20 mil annually for 20 years * must consider time and fulfillment costs associated with branding the venue. * Naming rights does not imply venue ownership *when naming rights change. .. management must consider lead time & cost necessary to re-brand venue

Performing Arts Center / Theater

*Permanent Stage *permanent seating *floor (sloped) *** - front to back *symphony, ballet, wicked, etc etc may alos do conventions and meetings but not primarily for these activities. * indoor.. venue or concert hall

Stadiums

*large facility w/ seats & bleachers surrounding a field area * open air or closed ( retractable) * fenway park .. sunlife stadium typical events: baseball, soccer, football, major concerts, spectacles, and major civic events.

Venue ownership

- Public ownership: most common, govt. entities finance construct & manage majority of public venues - Private: some public assembly owned by private org. usually owner of professional franchise that is major tenant, receive some financial assistance from govt. (tax) Public vs. Private: both can be successful as long as it generates desired results for both oiwnership & local community privqate: focus on financial returns, importance of effect on economics of community public: strive to meet financial requirements but existence is important to community as quality of life and economic generator - academic institutions: - nonprofit

Venue Manager Core Functions

1. administration/management 2. business and financial management 3. booking the venue 4. marketing and sales 5. ticketing and access management 6. Management of event and ancillary revenue sources 7. venue operations management 8. event management 9. safety and security

Types of Venues

Amphitheater Arena Auditorium Complex Conference Center Congress Center Convention/Exhibition/ Trade show center Special Event Venue Stadium

Value Engineering

An approach used to optimize project life cycle costs, save time, increase profits, improve quality, expand market share, solve problems, and/or use resources more effectively.

Arena/ Colesium

Colonial Life Arena * indoor facilitiy with fixed seats & or portable seats -- sourrounding the open forum * permanent or portable stage * Example. can take panels out for basketball court *typical events - basketball, hockey, other sports, concerts, ice shows, circuses, and other family shows .

Promoters

Contracted persons or companies responsible for expenses, production, & promotion of an event

Crowd Management Risk Management

Crowd - proactive organizational strategy which guides venue personnel in providing and maintaining the desired event environment Risk - process of identifying risk and the analysis of likelihood frequency and severity f the risk .. the risk management process also includes efforts to reduce or eliminate risk as well as transfer to the extent possible of remaining risk.

Event Managers

Customers today pay substantial ticket prices to attend events and they expect the experience will be on a level equal to the price they paid for access to succeed all elements of venues operation must work together operations must make sure that even'ts set up is as planned and at the same time meets all codes and regulations required . Parking and securtiy must handle the expected traffic flow to make sure guests ingress- influx of people or vehicles into designated areas. egress- the exiting of people or vehicles from designated areas ..seating areas, parking, the vneue know how to meet and greet guests, handle seating issues , and understand safety procedures

booking the venue

Designed to maximize yet safeguard time & space process that results in the programming of a venues master calender and hsould take into consideratoin the venues mission statement along with the need of its primary tenants and those of the entire community . book diverse program of events that meets the needs of the entire community, including the venue stakeholders seved by public assembly venue . manage calender with integrity - work closely with convention and visitors bureau (CVB) - avoid booking erros respect right to freedom of speech of artisits and event procedures as defined in the First Amendment

Venue

Refers to all public and private structures designed to accomodate people who assemble for a common purpose * Role in the community- role takes in overall quality of life in particular community is important * local people pay taxes and invest in building. so helpful if they can see investment is paying dividends for local economy and them as taxpayers.

Accounts Receivable

Money owed by customers or clients to the venue in exchange for goods or services that have been delivered or used but not yet paid for.

Confirmed

When a hold is this, a contract is issued w/ a deadline for Its return along w/ a rental deposit & other venue managements such as an event insurance

Booking priorities

are given to prime tenants or venue users can help ensure a high level of event activity w/ out giving such users exclusive rights - 1st: scheduling priority: multi week/ multi performance events - 2nd: week-long performance events, 6 or more - 3rd: multiple performance events, 2 or more - 4th: single performance events

Transient Occupancy Tax (TOT)

assessed to out of town visitors, thus saving local citizens from the need for any additional tax

business/ financial management

business office, finance/ accounting department or some similar department business offices often provide accounting and auditing services to public assembly venue ticketing activities esp. if tied to ticket sales and event settlements collecitng and accounting for cash, checks and credit card reciepts from sales transactions involving the venues revenue sources making bank deposits executing wire transfers recording bank stements, and completing post-event financial settlements with event promoters are typical activities perfromed by business offices or venues designated individual responsible for financial matters could even be office manager food & bev manger, or parking manager .. just depends also reports to owner or governing board through exec. manager or exec. director

Marketing & Sales

crucial in order to present the venue favorably to potential users and customers marketing- interpreted to include the process of searching out and identifying potential business for the venue 1. venue must be marketed to the industry in order to secure a devierse schedule of events.. - directed at potential users, event promoters, nonprofit community organizations, meeting planners 2. marketing of events to community, which consists of potential ticket buyers fans and event attendees. market venues and programs internally to staff, governing body and tenants, and other major stakeholders.. - need to understand vision, mission, goals and objectives of venue management

Venue Operations Management

department responsible for generla maintenance, housekeeping, engineering, heating, and ventilation ,and air ocnditioning (HVAc) utitility used for management and safety and security as we as event production requirements. venues generally provice, rigers, stagehands, deckhands, forklift operators etc. Changeovers of multiple types of events, a skilled and motivated operations department carries enormous responsibilities

Date protection

different promoters often request dates for events that may appeal to the same audience or exhibitor base. Not usually for venue's best business interest.

Tax Increment Financing (TIF)

entertainment district tax assessed much like sales tax or designation of a sourrounding area. * where local businesses that directly benefit from the events in the venue are assessed special taxes .

Management of Event and Ancillary Revenue Sources -

faces challenge of attracting customers with discretionary time and income to maximize sales of ancillary services ( food and bev, merchandise, parking etc) unique salesmanship to create product demand for these products often delivered through third party contractor using part time temporary labor , which adds an additional dimension to responsibilities of venue manager. equipment rental, freight handling, utilitity services, telephone and internet connections etc.

Agents

intermediaries that represent either buyers or sellers on a permanent basis

Accounts Payable

liability or debt owed to a supplier for the goods or services purchased in the regular course of business that have not been paid for

Public relations

marketing department work to place positive stories related to venue & its events in local media and industry publications. * Public relations is a strategic communication porcess that builds mutually beneficial relationships between organizations and their publics. * Press release is one way to communicate info about an event *

Advertising

marketing departments often act as an in house marketing agency working on behalf of the promoter * use understanding of local market to determine the most cost-effective & efficient means to maximize sales. *marketing departments in house can offer promoters ..... at a reduced cost: *advertisement placement in local & regional media *reduced advertising rates through venue relationships created by volume purchaisng local media * involvement with the media and local business partners in event sponsorship *willingness to minimize cash expenditures by securing advertising in return fo complimentary tickets * creation of positive public relations stories that apply to a specific event *ability to pre-sell tickets through the venues customer database *potential to procure corporate sponsorships to further reduce the cost of advertising and promotion * capacity to present the promoter with a clear and well documented media settlement/ reconciliation *** PRIMARY REASON TO OFFER IN HOUSE AD IS TO PROVIDE A VALUE- ADDED SERVICE TO THOSE USING THE VENUE ..... 10 -15% agency commision

admin / management

on site management personnel typically under the supervision of a gneral manager who may also be known as executive director, managing director, vice president or some similar title * must be a conduit between venue and community a liason between governing body and venues staff & administrative superviosr and mentor and leader primary responsibility - balancing available resources to achieve the venues mission must also become the governing body's prime resource, the users partner, the staffs leader, and guest advocate and sympathetic ear. day to day operations - but also devise realistic, ambitious goal of the future.. abilitiy to convey vision to venues ownership also - ensure all policies and procedures that govern the business activiites- state and federal laws.

commercial rights

opportunities for venues to derive non-event revenue from the sale of certain assets. *sale of assets rep: long term contractually obligated sources: *naming rights *beverage pouring rights (exclusive and nonexclusive) *sponsorships *advertising signage (static and alectronic) *additional advertising opportunities *memorial gifts Ideally inventory is taken before selling rights: iventory intended to help: * size/dimension *location *possible categories of exclusivity *contract terms *value/pricing *fulfillment to the buyer typicaly naming rights sponsor provided with--- suite, club seats, signage, parking privalages.

Change Order

requests made by the owner to add features to or subtract features from the scope of the project resulting in changes to the contract

Contracted

when the signeD contract & deposit are returned, the event's status becomes this at which point the process doe putting tickets on sale may begin