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Home My WebLink About5. 2012 CSE Recap_Vail_Soul_FestEvent Recap: Vail Soul Music Fest Commission on Special Events September 5, 2012 Photo by Jack Affleck Vail Soul Music Fest: August 17-19, 2012 Rhonda July Jackson, Producer Office: 303.544.2151 Mobile: 303.596.9943 Rhonda@vailsoulmusicfest.com 2Town of Vail | CSE | 12/15/11 Vail Brand Compatibility “Premier International Mountain Resort Community” 3Town of Vail | CSE | 12/15/11 Standard of excellence met by: •Offering a first class event with national artists of quality caliber which contributes to Vail’s image as a world class destination •Reaching destination visitors from outside of Vail Valley who stay an average of 2 nights attracting “heads and beds” and customers for the Vail lodging, restaurant and retail community •Targeting mountain travelers and culture seekers looking to Vail for physical, emotional and cultural vitality •Producing an event which promotes Vail’s economic vitality and sense of community Event Strengths & Weaknesses 4Town of Vail | CSE | 12/15/11 •Exceeded expectations: Out of state visitors (North Carolina, Texas, New York, Illinois), slight increase in attendance, profitable engagement with Vail merchants (Terra Bistro, the Bol, Vendetta’s, The Chophouse, Blue Moose), and lodging partners (The Lodge at Vail, Tivoli Lodge), Nightlife Spirit Sponsor (Hennessy) •Measures that could be taken for event improvement: More local advertising and signage, engaging local merchants as Soul Fest supporters, aligning with lodging windows for more affordable rates, securing mentors in Vail community. •For repeat event, comparison to past years (Economic Impact-EI): 1st year:$342,197 (EI) 2nd year: $329,312 (EI) 3rd year: $356,279.80 (EI) Event Budget 5Town of Vail | CSE | 12/15/11 •Total event budget: $179,500 (Actual: $177,810) •CSE funds: $45,000 •Profit and loss: •Profit: $155,544 •Loss: $22,266 •Funding utilization: 67% •In-kind sponsorship: $13,000 •Cash sponsorship: $53,412 Estimated Results* Attendance Numbers 6Town of Vail | CSE | 12/15/11 * Based on 2012 survey results from Intercept Insights. •Estimated attendance: 1874 •% of people in Vail specifically for event: •2010--91% of respondents came to Vail, CO specifically for Vail Soul Music Fest •2011 –98% of respondents came to Vail specifically for the Festival •2012–98% of respondents came to Vail specifically for the Festival •% of people attended previous years: •In 2011, 29% were returning guests •In 2012, 40% were returning guests (60% first time attendees) •2011-2012 Event Promoter Score: 56 Estimated Results* Demographic Profile 7Town of Vail | CSE | 12/15/11 •Attendees came from (local, regional, out of state, international): •Illinois •Front Range •Texas •North Carolina •Philadelphia •California •New York area •Average age and income bracket of attendees: •42 •$75,000+ * 2011 Based on survey results. 0%20%40%60%80%100% 1%1%18%18%18%36%8%1% Vail Soul Fest -Income Categories 2011 N = 114 Estimated Results* Event Attendee Estimated Spending 8Town of Vail | CSE | 12/15/11 •Lodging: •% attendees stayed in Town of Vail: 98% •Average amount spent on lodging/day: $170 x 2 days -$340 •Estimated room nights booked due to event association: 390 •Lodging call to action: Website, Central Reservations/Ski.com/Vail on Sale •Non Lodging Revenue: $266 x 2 nights = $532 * Based on preliminary survey results from 2012 Intercept Study –still being collected. Estimated Return on Investment (ROI)* 9Town of Vail | CSE | 12/15/11 •Additional Town of Vail spending event generated/non-lodging: $194,180 •Potential Lodging revenue Generated: $132,600 ($170 x 2) * 390 room nights •Ratio of increased revenue to amount of funding received: •600%+ return •Additional sales tax revenue generated by event accrued to Town of Vail:** $29,499.80 •2012 Est. Economic Impact: $356,279.80* * Based on 2012 survey results, still being collected. ** Town of Vail sales tax = 4%. Lodging tax = 5% Visitor Intent to Return* 10Town of Vail | CSE | 12/15/11 Satisfaction ratings: •First year: 32% first time in Vail •73% rated likely to return •Second year: 29% returning guests/71% first time attendees •86% rated likely to return •Third year: 85% rated likely to return** * Based on 2012 survey results, still being calculated. Topline Marketing Efforts 11Town of Vail | CSE | 12/15/11 •Cable local and national –Festival and VLMDAC •ASPIRE-TV, TNT, BET and GMC •Denver Radio and Vail Radio •ESPN, LIFT FM, JACK FM, Jammin 101.5 •Email/Website Marketing •Social Media •Print (Ebony ad) •Word of Mouth/Festival Ambassadors •Total Impressions: 25 Million+ and growing Community Contribution 12Town of Vail | CSE | 12/15/11 •Impact on Vail’s sense of community: •Youth Day Music and Mentoring Program on Saturday, 102 kids (Walking Stick/BlueMoose/Vail Resorts) •Free events at the Tivoli Lodge, Bol, Terra Bistro and Vendetta’s •Offering quality entertainment for guests, residents and festival attendees •Assists in contributing to Vail’s heritage of its love for art and culture. Only Soul Music Festival in the state, started in Vail, CO. Sustainability Efforts Green Measures 13Town of Vail | CSE | 12/15/11 •Followed measures in place at Ford Amphitheater •Followed measures in place in town and at Tivoli •Encouraged youth to follow measures in Eagles Nest Additional Information 14Town of Vail | CSE | 12/15/11 •Press •SWOT Diagram •Budget (attached) Additional documents attached to presentation: Press Denver Post http://www.denverpost.com/lifestyles/ci_21266960/allen-stone-speaks-heart-and-soul-rock-n Vail Daily--3 stories and cover page Hip-Hop Enquirer.com -Ran photos and a story from the weekend -Run Date 8/22 http://hiphopenquirer.com/hennessy-event-soulful-sounds-at-the-vail-soul-music-festival-by-hennessy/ AllHipHop.com -Ran photos and a story from the weekend -Run Date 8/22 http://allhiphop.com/2012/08/22/kindred-floetry-rebirth-and-anthony-david-shine-at-the-vail-soul-music-festival/Exclusive Access.com -Ran photos and a story from the weekend -Run Date 8/22 http://exclusiveaccess.net/galleries/hennessy-takes-over-the-vail-soul-music-festival/ VIBE.com -Ran photos and a story from the weekend -Run Date 8/21 http://www.vibe.com/photo-gallery/hennessy-takes-over-vail-soul-music-festival-kindred-floetryrebirth-anthony-david Vail Daily.com -Ran a photo from the Hennessy Brunch and included a caption mentioning Hennessy -Ran on 8/18 http://www.vaildaily.com/article/20120818/AE/120819847 SummitDaily.com -Ran a photo from the Hennessy Brunch and included a caption mentioning Hennessy -Ran on 8/18 http://www.summitdaily.com/article/VD/20120818/AE/120819847/1088/olympicsAthlete&parentprofile=1&SiteParentProfile=1059&keyword= Town of Vail 15 Vail Soul Music Fest SWOT Analysis •Page 17 •Page 17 •Page 16 •Page 16 Strengths Opportunities ThreatsWeaknesses Town of Vail 16 Strengths Opportunities 3rd year –only Soul Music Festival in State Classy Event (3 years/no security incidents) Mature and diverse(race/income) audience Discretionary Income -Attendees spend in Town (lodging, stores, restaurants) Nationally recognized artists PR/Social Media National & Local Sponsors Community focused Out of state guests New audience to Vail FUN Event Multigenerational event Increase signage for guests and Vail Residents Include recreation as a part of Vail Soul experience Increase to 3 day event –tie-in to Vail’s 50th campaign Work to strategize with VLMDAC, Vail Resorts and Vail Valley Foundation Seek Vail Business Mentors (Merchants, Lodging, Marketing, Economic Development, Producers, Foundations) Propose a CO-OP for local advertising with other Vail event promoters Secure testimonials from Vail merchants and ask for merchant ambassadors Identify a strong PR and marketing firm Explore locations for ancillary events for the festival Consider changing date and entity to nonprofit Town of Vail 17 Weaknesses Threats Signage for guests and Vail Residents August Date around back to school, festival burnout Small budget/need more funding partners Smaller staff Promoter not based in Vail Lack of airline partner B/C artists/ “A” artists needed to grow event which results in $$$ Need more local/national marketing $$$ Lodging rates fluctuation Limited F&B opportunities/revenue Competing with neighboring venues and festivals Distance from DIA to Vail Congestion on I-70 Lack of direct flights into Eagle Airport Limited conference space for growth Local restaurants close early Sound Ordinance for late night experiences Capacity cap/small venue –no F&B revenue with Ford Amphitheater Local Community buy-in (not listed in all of Vail’s marketing materials) Outside Promoter/Limited access to information Town of Vail 18 VAIL SOUL MUSIC FEST SUMMER 2012 REVENUES BUDGET ACTUAL Admission Fees 75,000.00$ 56,632.00$ Sponsorships 75,000.00$ 53,412.00$ CSE Grant 45,000.00$ 45,000.00$ Exhibits/Merchandise 500.00$ 500.00$ Total Event Revenues 195,500.00$ 155,544.00$ EXPENSES Artist and Production Expenses 120,000.00$ 107,810.00$ Advertising/Marketing/PR 15,000.00$ 10,000.00$ Administration 10,000.00$ 10,000.00$ Transportation 10,000.00$ 15,000.00$ Lodging Fees 30,000.00$ 35,000.00$ Total Event Expenses 185,000.00$ 177,810.00$ Confidential/Proprietary Document-Legacy Entertainment Inc./Soul Fest 2012