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HomeMy WebLinkAbout3.f. 2015 Bravo! Vail RecapEvent Recap: Bravo! Vail 2015 October 7, 2015 Photo by Jack Affleck © Zach Mahone Bravo! Vail: July 1 –August 6, 2015 2Town of Vail | CSE | 10/7/15 Jeanne Reid White, VP of Leadership Gifts Office: 970.827.5700 jreid@bravovail.org © Zach Mahone Attendance Estimate 3 How would you impact attendance next year? •In 2016, Bravo is bringing in a fourth orchestra, London’s Academy of St Martin in the Fields, with Music Director Joshua Bell. This adds three Gerald R. Ford Amphitheater concerts June 23, 25, and 26 and will encourage early summer tourism to Vail. •The Academy becomes the first international orchestra in residency at Bravo! Vail which will draw international attention. Vail is the only “residency” stop on the Academy’s US tour which will bring loyal followers of the orchestra to Vail. •Bravo! continues to build loyalty through subscription packages which encourage customers to purchase tickets to three or more concerts for a discount. Town of Vail | CSE | 10/7/15 40,390 41,907 43,907 2013 2014 2015 Paid Bravo! Vail Attendance Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Visitor Type 4 Was this the visitor type split you expected? Why or why not? •The visitor type split was expected, and is in line with previous years. The visitor mix is diverse, with the largest segment being out-of-state visitors at 34%. •Bravo! maintains a healthy mix of visitors; we strive to be an important resource to the local community and Colorado as a whole, while also bringing significant destination visitors to the festival. What steps would you take to optimize visitor mix? •Increase international attention and cultural tourism with the addition of the Academy in 2016 to attract new summer visitors to Vail. •Increase front range visitors by building awareness of the festival through strategic list trades with other arts organizations in the state. 34% 17%21% 8% 21% Out-of-state visitor In-state visitor Out-of-state 2nd home owner In-state 2nd home owner Full-time resident Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Overall Visitor Profile 5 Who was your anticipated target demographic? •Bravo’s target demographic is highly educated, has disposable income to spend in Vail, and values cultural experiences. Did you reach your target demographic? Why or why not? •Yes , the demographic was similar to previous years. Bravo! has built a loyal following over the years through strategic marketing and development initiatives. What would you change to reach that audience next year? •Bravo! excels at bringing in this target demographic, but is always looking to bring in new audiences through new initiatives and programs (Fantasia, Pixar, Cirque de la Symphonie, Classically Uncorked) that appeal to diverse audiences. •In 2016, Bravo! plans to launch a new young professionals program to engage younger audiences. Town of Vail | CSE | 10/7/15 61% 40% 6% 6% 10% 22% 36% 21% 52% 9% 9% 4% 3% 2% 2% 2% 2% 1% 14% 3% 6% 7% 10% 20% 13% 22% 18% 2% 1% 5% 33% 60% Female Male 18-34 35-44 45-54 55-64 65-74 75+ CO TX FL CA IL NY NM AZ MO KS Others Under 30K 30K up to 50K 50K up to 75K 75K up to 100K 100K up to 150K 150K up to 200K 200K up to 500K 500K or more High school diploma/GED Trade/vocational degree Associates degree/some college College graduate Graduate degree Se x Ag e St a t e Ho u s e h o l d I n c o m e Ed u c a t i o n Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Overnight Visitor Profile: Overnight Visitors & Seasonal Residents Only Only 6 What measures did you take to incentivize attendees to book lodging in the Town of Vail? •Listing of lodging partners in 45K ticket brochures. Over 32K brochures mailed to the Bravo! Vail database and other arts organization list trades. •Lodging partners included on Bravo! e-blasts and social media. •Links on Bravo! Vail website to all lodging partners under “Plan Your Visit” to encourage overnight stays. Town of Vail | CSE | 10/7/15 5% 64% 8% 14% 10% 6% 10% 25% 15% 11% 35% 59% 11% 10% 8% 3% 2% 1% 7% 1 2 3 4 5 or more 1 2 3-5 6-8 9-14 15 or more Vail Beaver Creek Avon Edwards Eagle Vail Eagle/Gypsum Minturn Other Nu m b e r i n P a r t y Ni g h t s i n A r e a Lo d g i n g L o c a t i o n Data based on 631 total surveys from 11 events which represents 96% statistical accuracy 34% 43% 86% 66% In-state 2nd home owner Out-of-state 2nd home owner In-state visitor Out-of-state visitor Bravo! Vail is a Primary Reason for Visiting Role/Importance of Event in Intent to Visit Vail 7 What actions did you take this year to generate the number of overnight guests? Subscription Packages Bravo’s subscription packages consist of three concerts, often on consecutive nights, encouraging overnight stays. Cultural Tourism The Festival presents three world-class orchestras over six weeks which draw national and international attention resulting in increased cultural tourism to Vail. How would you increase the number of overnight Vail guests coming for the event next year? Fourth Orchestra Bringing an international orchestra, London’s Academy of St Martin in the Fields, in late June to encourage earlier summer tourism for Vail. Increase front range visitors by building awareness of the festival through strategic list trades with other arts organizations in the state, and increasing cable buys in the Denver metro area. Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy NPS (Net Promoter Score)/Likelihood to Recommend 8 Do you think the NPS scores reflect the attendee event experience? •The Bravo! Vail NPS is very strong and has a low detractor segment, which accurately reflects our customer experience. Bravo! makes customer satisfaction a priority by openly asking for feedback in post-concert e-mails and taking action on any comments to improve the customer experience. •Personalized customer service is a top priority for Bravo!, and the organization strives to maintain long-term customer relationships. What steps would you take to improve the NPS scores for your event next year? •Bravo! will continue to ask for feedback in post-concert e-mails to improve customer satisfaction. Town of Vail | CSE | 10/7/15 83% 14% 3% 81% Promoter (% 9-10)Passive (% 7-8)Detractor (% 0-6)NPS Likelihood of Recommending Bravo! Vail 87%85%86% 79%73% Full-time resident In-state 2nd home owner Out-of-state 2nd home owner In-state visitor Out-of-state visitor NPS by Visitor Type Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Bravo! Vail Expenses $178,002 Estimated Return on Investment (ROI) & Attendee Expenditures 9Town of Vail | CSE | 10/7/15 Bravo! Vail Attendees: 43,907 Orchestra members: 319 Food & Beverage $3,277,699 Lodging & Hotel Expenses $3,403,433 Parking $24,596 Shopping $1,600,339 Activities $738,322 Tax Revenue Total Impact $9,222,392 $363,258 $9,585,650 What did your event do to encourage spending in Vail? •Website: Bravo! Vail listed lodging and restaurant partners on the bravovail.org website. •Brochures: Lodging partners were listed on over 32K brochures mailed to Bravo’s database and other arts organization list trades. •Insider’s Club: Bravo! sent out special offers from local partners to our subscribers and donors to encourage patronage at local establishments. ROI (Corona Insights data, RRC data included in appendix): •Tax Revenue Ratio-109% return on investment •Spending Ratio-5428% return on investment Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Vail Brand Compatibility The Premier International Mountain Resort Community 10 Standard of excellence met by: •Bravo! Vail is an experience you can have nowhere else. The only festival in North America to host three of the world’s greatest orchestras: Dallas Symphony Orchestra, The Philadelphia Orchestra and New York Philharmonic. •International recognition. Bravo! Vail hosts internationally renowned soloists and chamber musicians. •Economic growth. Bravo! Vail is committed to growing a vibrant, diverse economy and community, providing our citizens and guests with exceptional services and an abundance of cultural and educational opportunities. •Bravo! Vail is a cultural and community leader. Bravo! Vail enriches the cultural life of Vail and increases its prominence as a summer destination for cultural tourism. •Music transcends boundaries.Bravo! Vail’s Education and Community Engagement Programs create experiences to be shared and enjoyed equally by all. Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Event Strengths & Weaknesses 11 Exceeded expectations: •Artistic and critical acclaim for diverse programming •Record ticket sales in 2015, in both tickets sold and revenue •Outstanding feedback about the artistic quality of our concerts •New videography project with in-residence videographers which generate daily engaging content to push out through social media and e-mail •Increased digital campaign strategy which achieved high ROI •Expanded direct mail and direct e-marketing efforts Measures that could be taken for event improvement: •Increase level of artistic excellence and international recognition through adding The Academy •Website redesign for improved user experience and streamlined purchase path •In-depth google analytics analysis this fall to better understand our customer profile, acquisition channels, and user experience on the website •Explore marketing partnerships with the lodging community For repeat event, comparison to past years: •Increased ticket revenue $118K (7.35%) •Increased ticketed performance attendance by 2,000 (4.7%) Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Community Contribution 12 Impact on Vail’s sense of community: •Vail is home to Bravo! Vail, one of the nation’s most respected classical music festivals providing guests and residents an opportunity to connect through world-class music experiences. •Bravo! Vail has been a fixture in the community for 28 years. •Bravo! Vail is accessible to everyone through affordably priced lawn seats, free concerts, and free educational events. •The free concert series consisted of over 20 concerts in 2015, and continues to see increased attendance each season. •Bravo! Vail After Dark series added another concert in the Town of Vail. •Bravo! Vail has year-round education efforts at local elementary schools through the After- School Piano Program. •Bravo! Vail has long standing partnerships with countless local businesses. •More than 75 local residents (primary and second home owners) serve on the Board of Trustees and Advisory Council as ambassadors within the community. Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Topline Marketing Efforts 13 Focused marketing initiatives: •Third season of subscription campaigns to build patron loyalty and increase overnight stays in the Town of Vail •Second season of data-driven digital campaigns •First season with a videographer in residence which generated daily engaging mini-videos to push out on social, website, and email Use of data and analytics to inform strategy: •Expanded direct mail campaigns •List trades with regional arts organizations •Increased e-marketing campaigns •Utilized google analytics to understand acquisition channels and user experience on bravovail.org Radio partnerships: •Colorado Public Radio broadcasts of Bravo! Vail performances •Broadcast statewide and streamed worldwide on cpr.org •Advertising on CPR stations throughout state (focused on front range and western slope) •WFMT radio special from the 2014 season aired internationally in 2015 Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Potential for Growth & Sponsorships/Media Exposure 14 •Bravo! Vail continues to make a focused effort to secure major corporate partnerships in 2016 and beyond •The addition of the Academy of St Martin the Fields provides international exposure to the Festival and Vail, which will be appealing to major companies •Bravo! Vail plans to invite key members of the British press to Vail for the residency •2015 videography project resulted in archive of compelling video clips that are being used in sponsorship proposals •Producing video about the Academy with Joshua Bell highlighting the residency •Working with the Academy’s Marketing and PR team to increase Bravo! Vail media exposure Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Sustainability Efforts 15 •Program Book copies left behind at concerts are gathered, saved, and redistributed at future performances. •Subscription brochures, ticket brochures, and program books are all uploaded onto issuu.com, and embedded on the bravovail.org website for electronic use. •Electronic distribution of board packets, event invitations, order confirmations, tickets, and the implementation of an electronic auction system reduced paper consumption. •The Bravo! Vail office recycles paper, plastic, aluminum and cardboard. The office uses energy efficient appliances, light bulbs and many recycled fixtures. Town of Vail | CSE | 10/7/15 Data based on 631 total surveys which represents 96% statistical accuracy Event Budget 16 Total event budget: $5,880,000 TOV funds: $173,400 Profit and loss: Bravo! Vail’s 2015 fiscal year ends September 30. A full audit will be available in late December. Bravo! Vail projects a surplus for the 2015 fiscal year. Funding utilization: $86,700 The Philadelphia Orchestra $86,700 New York Philharmonic In-kind sponsorship: $2,450,000 Cash sponsorship: $3,120,000 * Detailed budget in appendix Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy Additional Information/Appendix 17 •Complete and detailed budget •Full version of Survey Dashboard from RRC Town of Vail | CSE | 10/7/15 Data based on 631 total surveys from 11 events which represents 96% statistical accuracy 10/5/2015 Bravo! Vail Italics - new line item 2015 Actuals, Budget and Projections 2015 2015 2015 Year to Date Budget Projections Revenues Earned/Unearned Income 01-40301 Ticket Sales (Orch/ Chamber)$1,675,244 $1,675,000 $1,700,000 01-40302 Soiree Ticket Sales $46,100 $34,000 $46,700 01-40303 Gala Auction & Ticket Sales $126,220 $265,000 $314,005 01-40304 Education Income $276,859 $240,000 $276,859 01-40305 Festival Contributions $3,197,385 $3,120,000 $3,392,429 01-40306 Special Project Income $199,000 $125,000 $200,500 01-40307 Grant Revenue $59,800 $195,000 $190,400 01-40309 Program Advertising $136,303 $175,000 $169,000 01-40311 Interest Income $1,872 $1,000 $2,200 01-40313 Operating Reserves $90,179 $0 $118,000 01-40315 Contribution from Investments $0 $50,000 $50,000 Total Earned/Unearned Income $5,808,962 $5,880,000 $6,460,093 Expenses Artist Fees/Travel 01-50401 Artistic Music Director $85,242 $102,290 $102,290 01-50403 Artistic Staff Expenses $3,487 $11,000 $11,000 01-50405 Director of Artistic Planning $57,500 $69,000 $69,000 01-50408 Artistic Liaison $3,832 $5,500 $5,500 01-50413 Artist Fees $230,594 $375,000 $357,000 01-50417 Artist Housing $18,192 $28,000 $28,000 01-50418 Academy of St. Martin $0 $0 $0 01-50419 New York Philharmonic $83,740 $873,000 $873,000 01-50420 Philadelphia Orchestra $589,982 $704,000 $704,000 01-50423 Dallas Symphony Orchestra $480,633 $481,000 $483,633 01-50424 Education/Community Engagement Programs$105,283 $220,000 $165,000 Total Artist Fees/Travel $1,658,485 $2,868,790 $2,798,423 Special Artistic 01-50501 Concert Hall Rental $8,025 $12,500 $12,500 01-50502 GRFA Facility Fees -$2,644 $36,000 $36,000 01-50505 Equipment Rental/Sound Engineer $10,210 $51,400 $51,400 01-50507 Piano Technician/Travel $6,059 $8,500 $8,500 01-50513 Archivist $729 $5,500 $5,500 01-50515 Program Note Writer $8,000 $8,500 $8,500 01-50519 Production Crew Salaries $41,572 $53,000 $53,000 01-50520 Concert Production $81,580 $68,000 $68,000 01-50521 Operations Salaries $60,731 $87,000 $87,000 01-50523 Soiree Expenses $4,119 $22,500 $30,000 Total Special Artistic $218,381 $352,900 $360,400 Marketing 01-50601 Marketing & PR Projects $144,298 $185,000 $192,000 01-50602 Box Office Salaries $75,599 $101,200 $101,200 01-50603 Website Design & Maintenance $5,063 $45,000 $6,000 01-50605 Collateral Delivery Service $0 $2,000 $2,000 01-50615 Postage - Marketing $8,474 $10,000 $9,000 01-50616 Special Marketing Projects $18,100 $0 $30,000 01-50625 Guide to Music Editor $338 $0 $500 01-50626 Season Pass Expenses $0 $1,000 $0 01-50629 Festival Design/Components $45,431 $82,500 $71,750 01-50630 Marketing Salaries $216,711 $316,400 $296,400 Total Marketing $514,014 $743,100 $708,850 Fundraising 01-50657 Donor Cultivation $30,459 $51,000 $51,000 01-50659 Gala Dinner Expenses $58,037 $97,000 $97,000 01-50661 Development Planning/Travel $5,076 $9,000 $9,000 01-50663 Donor Events $24,069 $58,000 $62,100 01-50664 Special Development Projects $12,255 $0 $13,000 01-50665 Postage & collateral - Fundraising $5,923 $5,000 $6,000 01-50667 Development Salaries $239,152 $301,500 $301,500 Total Fundraising $374,971 $521,500 $539,600 Administration 01-50701 Office Rent $65,286 $78,343 $78,343 01-50703 Utilities $3,610 $6,000 $5,610 01-50704 Postage - Admin $4,130 $5,000 $5,000 01-50705 Telephone $10,064 $13,000 $13,000 01-50707 Office Supplies $11,460 $13,000 $13,000 01-50709 Office Equipment $14,938 $17,000 $17,000 01-50710 Network Licensing & Maintenance $58,330 $69,100 $67,500 01-50711 Stationery/Ticket Stock $7,011 $10,000 $7,750 01-50712 Executive Dir. Expense Acct.$3,147 $5,500 $5,500 01-50713 Staff Travel/Long Distance $4,971 $9,000 $9,000 01-50715 Guild Expenses -$1,203 $12,500 $12,500 01-50716 Board Mtg./Admin Expenses $11,938 $13,500 $15,000 01-50717 Audit $15,263 $15,500 $15,263 01-50718 Transaction/processing fees $55,930 $80,000 $80,000 01-50719 Office Maintenance and Storage Unit $6,523 $7,560 $7,560 01-50720 Staff Housing $15,912 $8,000 $16,000 01-50723 Festival Insurance Policy $14,189 $9,500 $14,189 01-50724 Executive Director Search $58,132 $0 $75,000 Total Administration $359,631 $372,503 $457,215 Admin Salaries/Taxes/Benefits 01-50800 Administrative Salaries $478,478 $580,000 $599,102 01-50802 Accountants & Attorney fees $1,277 $6,900 $3,500 01-50803 Employee Health Benefits $88,779 $103,000 $102,000 01-50805 457 Contributions & Mgmt $2,365 $53,500 $39,600 01-50807 Employer taxes $117,373 $114,800 $127,870 01-50808 Worker's Compensation $6,213 $6,000 $3,700 01-50809 Employer retirement contribution $34,259 $45,000 $40,000 01-50811 Employee Development $6,945 $12,007 $15,000 01-50817 Employee Recognition $0 $100,000 $0 01-50831 Transition Expenses $40,034 $0 $43,000 Total Salaries/Taxes/Benefits $775,723 $1,021,207 $973,772 Total Expenses $3,901,205 $5,880,000 $5,838,260 In Kind 01-40332 In Kind contributions $635,597 $2,450,000 $2,450,000 01-50460 In Kind Expense $635,597 $2,450,000 $2,450,000 NET SURPLUS/(DEFICIT)$1,907,757 $0 $621,833 Day visitor to Vail Full-time downvalley resident Full-time resident of Town of Vail Overnight visitor to the region Seasonal resident of Vail Valley 0% 1000% 2000% 3000% 4000% P e r c e n t R e s p o n d i n g 21%17% 36% 18% 8% Visitor Type 0%20%40%60%80% Percent Responding Annual Household Income Under $50k $50k-$100k $100-$150k $150k or more Age of respondent Under 18 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65 - 74 75 or older Gender Female Male State/Country Colorado Texas Florida Georgia Illinois Tennessee Greece Massachusetts Missouri New Jersey 0% 21% 21% 58% 0% 0% 0% 13% 6% 31% 28% 22% 56% 44% 62% 8% 6% 4% 3% 1% 1% 1% 1% 1% Overall Visitor Profile 0K 10K 20K 30K 40K 50K A t t e n d e e -D a y s 52.3K Attendance Estimate 0%20%40%60%80% Percent Responding Are you staying:In paid lodging Vacation home/timeshare With friends/family Other How many people are staying in your accommodations unit? Myself only 2 3 4 5 6 or more Nights in the area this trip 1 2 3 - 5 6 - 8 9 - 14 15 or more Where are your lodging accommodations located? Vail Beaver Creek Avon Edwards Eagle/Gypsum Summit County Other 50% 23% 23% 4% 8% 39% 18% 18% 4% 12% 4% 18% 33% 27% 12% 6% 71% 6% 10% 8% 0% 2% 4% Nightly Rate (if Paid) Average: $228 Median: $200 Overnight Visitor Profile 0: None, I would have come to Vail anyway 1 2 3 4 5: Half my reason for coming to Vail 6 7 8 9 10: My only reason for coming to Vail 0% 20% 40% 60% 80% 100% P e r c e n t R e s p o n d i n g 19%0%0%0%0% 16% 3%0%6%3% 53% Importance of Event in Decision to Visit Vail Today Promoter Passive Detractor NPS 10% 20% 30% 40% 50% 60% 70% 80% 90% P e r c e n t R e s p o n d i n g [0 =N o t a t a l l l i k e l y ,1 0 =E x t r e m e l y l i k e l y ]93% 6%1% 92% Likelihood of Recommending Event to a Friend or Family Member Total amount you will spend today and tonight Restaurants/Bars/ Prepared Food Vendors Other items excluding lodging Lodging Shopping Recreation (golf, bike rental, entry fees, etc.) $0 $50 $100 $150 E c o n o m i c I m p a c t p e r A t t e n d e e -D a y $98 $33 $30 $19 $13 $3 Direct Economic Impact to TOV per Attendee-Day 2015 Event funding Direct economic impact to TOV Economic impact payback ratio $29.68 $5,147,376.74 $173,400.00 Return on Investment: Funding vs. Impact Summary of Key Trip Characteristics and Demographics 2015 Event Visitor Summary: Bravo! Vail, June - August The overall sample size for this survey is 144. Please note that sample sizes are smaller for subgroups. Overnight only Average Overall Day visitor Full-time downvalley resident Overnight visitor Seasonal resident of Vail Valley 8.3 6.1 9.6 8.7 7.1Overall