[Durham INC] DPAC 2015/2016 Season Financial Results Released

[PublicAffairs]

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CITY OF DURHAM
Office of Public Affairs
101 City Hall Plaza
Durham, NC 27701

News Release


News Media Contact:
Amy Blalock
Sr. Public Affairs Specialist
(919) 560-4123 x 11253
(919) 475-7735 (cell)
Amy.Blalock at DurhamNC.gov<mailto:Amy.Blalock at DurhamNC.gov>
http://Facebook.com/CityofDurhamNC
http://Twitter.com/CityofDurhamNC
http://YouTube.com/CityofDurhamNC
http://Instagram.com/CityofDurhamNC

For Immediate Release: October 6, 2016


Share!  #Durham earns more than $1.8 million from @DPAC 2015/2016 season http://bit.ly/2d6tFW9


DPAC 2015/2016 Season Financial Results Released

DURHAM, N.C. - The City of Durham has released the 2015/2016 season financial results for the Durham Performing Arts Center (DPAC)<http://www.dpacnc.com/>, showing the City earned more than $1.8 million, according to the preliminary, unaudited financial statement for the period ending June 30, 2016.

The City owns DPAC, which is managed by PFM/Nederlander<http://www.dpacnc.com/center-info/nederlander-pfm>, operators of the performing arts and entertainment facilities in America and worldwide. According to the preliminary statement, Durham Performing Arts LLC generated a net income of more than $6.3 million, of which pursuant to the operating agreement, more than $1.8 million will be distributed to the City.

The income will go into the City's DPAC Fund to be used for debt service, maintenance, building improvements and other possible revenue shortfalls, including naming rights and hotel/motel occupancy tax.

The 2015/2016 season broke records for DPAC with 511,073 guests, 249 events, and 119 sellouts. The season featured the Broadway hits Disney's The Lion King, The Book of Mormon, and Beautiful; concert legends Aretha Franklin, Duran Duran, Mark Knoplfler, Hall & Oates, and Patti Labelle; superstar comedians Jerry Seinfeld, and Larry the Cable Guy & Jeff Foxworthy; and the American Dance Festival.

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