[Durham INC] Results Released for Third Successful DPAC Season

[Blalock, Amy]

CITY OF DURHAM

Office of Public Affairs

101 City Hall Plaza

Durham, NC 27701

 

 

News Release

 

For Details, Contact:

Beverly B. Thompson

Director

(919) 560-4123 x 11229

(919) 475-2362 (cell)

Beverly.Thompson at DurhamNC.gov

 

 

 

 

For Immediate Release: August 18, 2011

 

 

 

Results Released for Third Successful DPAC Season 

Durham -- City of Durham leaders are calling the Durham Performing Arts
Center's third year of operation a success, with earnings of $1.02
million, according to the preliminary, unaudited financial statement
released today for the period ending June 30, 2011.  The City owns the
facility, which is managed by PFM/Nederlander, operators of performing
arts and entertainment facilities in America and worldwide.

 

"For the third year in a row, DPAC continues to draw people to
experience not just great entertainment, but also customer service that
can't be matched," said Mayor William V. "Bill" Bell.  "While the venue
continues to be profitable, what it means for Durham during these tough
economic times goes without saying.  The City is fortunate to be able to
offer the unmatched entertainment -- from the legendary Diana Ross to
award-winning musicals, such as The Lion King -- that people throughout
the Triangle region and beyond find irresistible."  

 

While DPAC sold over 11,000 season tickets to its flagship SunTrust
Broadway Series, the success was driven not only by Broadway shows, but
also by the wide variety of events, including concerts, comedy and
family shows.  Drawing attendees from all over the Triangle and
throughout the state, the season boasted over 357,000 guests, 58
sellouts and hosted over 192 total events.

 

According to the preliminary, unaudited financial statement, the Durham
Performing Arts Center, LLC, generated a net income of a little more
than $2.5 million, of which, pursuant to the operating agreement with
the City, 40 percent, or a about $1.02 million, will be shared with the
City.  Last year's reported earnings for the City were approximately
$1.2 million.  The income will go into the City's DPAC Fund, which is
used for debt service, maintenance, building improvements and other
possible revenue shortfalls, including naming rights and hotel/motel
occupancy tax.  

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