Tag Archive for pollstar

DPAC Impresses Yet Again With $1.8 Million Annual Net Profit

Durham Performing Arts Center Stage

Durham Performing Arts Center Stage

The Durham Performing Arts Center (DPAC), a public/private development led by Garfield Traub Development of Dallas in partnership with Szostak Design of Chapel Hill, reported recently a net income of more than $4.5 million in fiscal 2011-12, with $1.8 million of these funds going to the City of Durham. Under its operating contract with PFM/Nederlander, the City receives 40% of the annual net income from the theater to use for amortizing debt and maintaining and paying other costs related to the City-owned Theater.

DPAC director Bob Klaus reported attendance to be over 417,000, with 25% of attendees being first-time patrons.  Over one-third of the performances were sold out, and the SunTrust Broadway series has already counted almost 11,000 subscribers for the 2012-13 season.

DPAC’s largest attendance for the past season was the return performance of “Wicked”.  82,000 people attended 32 performances, just two years after a successful first run at the DPAC.

Projections for surplus cash flow after operations were originally conservatively estimated at  $400,000 per year, with approximately $160,000 (40%) going to the City.  Fortunately for the DPAC and the City of Durham, the actual results have exceeded the original, purposefully conservative projections by a factor of ten!

Bob Klaus, General Manager of the DPAC, commenting on the performance of the theater, said “the expectations were high, but we beat all expectations”.

Just last month, Pollstar ranked DPAC as #2 among the top 100 best-selling theaters in the world, second only to the Auditorio Nacional in Mexico City, and the #1 top-selling theater in the US, beating out widely-known theater markets like Los Angeles and New York City.

The reputation and performance of the DPAC continues to validate the vision and leadership of the City and its development team which worked so collaboratively throughout the development process.  Public/private partnerships are now being aggressively promoted across the nation, and the Durham Performing Arts Center stands as a paradigm of success of public/private collaboration.

Contact Garfield Traub Development if you would like to see how they can help create your City a successful performing arts center like the DPAC.

Garfield Traub Development DPAC Rated #1 Top-Selling Theater in U.S.

DPAC also rated #2 top-selling theater in the world

DPAC

Durham Performing Arts Center - Durham, NC

The Durham Performing Arts Center (DPAC), developed by Garfield Traub in partnership with Chapel Hill architect Szostak Design in Durham, North Carolina, has proven itself yet again against the best of the best and is now rated #1 by trade publication Pollstar as the top-selling theater in the U.S. for the first half of 2012.

If that were not impressive enough, DPAC scored the #2 position in the top 100 selling theaters in the world, second only to Mexico City’s Auditorio Nacional.  And since the rationale for the development of the DPAC was doubted by many prior to its opening in 2008, this is a very special achievement for all those involved in the DPAC from development to delivery.

“It all starts with great shows, and for us to have two big multi-week blockbusters in the same season really tipped the attendance scales”, said Bob Klaus, DPAC’s General Manager in the Durham News Service. “It’s a credit to Nederlander and PFM and the great shows they bring us, this will truly be a season to remember.”

Today the attendance statistics have been released for DPAC’s 2011-2012 season, which includes 200 performances bringing in a total of 417,180 guests and 67 total sellouts. The highest attended shows were Radio City Christmas Spectacular with 38 performances and Wicked with 32 performances.

“We at Garfield Traub are extremely proud of what the DPAC has accomplished,” said Garfield Traub Principal Greg Garfield. “It is an honor to be able to say we participated in the development of the project, and we could not be happier for all those involved.”

Since the opening of the DPAC in 2008, the theater has consistently ranked on the top of Pollstar’s top-selling theater rankings, but has also won other awards such as:

  • Numerous local Reader’s Choice Awards
  • The Independent Weekly’s “Best of” winner for Best Theater Venue – 4th Consecutive Year
  • The Herald Sun’s Reader’s Choice Award for Best Live Entertainment – 4th Consecutive Year
  • Raleigh’s Metro Magazine’s Standing Ovation for Best Theater – 3rd Consecutive Year
  • Durham Magazine – Best Place for Live Music and Best Place for Live Theater – 2nd Consecutive Year
  • And #3 in gross ticket sales among venues with a capacity of 5,000 or under in the soon to be published July 28th mid-year charts for Billboard Magazine.

Since the DPAC’s opening in 2008, 520 ticketed events have been presented drawing in more than one million attendees.  For more information about the DPAC and how it was successfully developed, visit the Garfield Traub website.

Garfield Traub Development DPAC Proves Skeptics Wrong

Durham Performing Arts Center (DPAC)

Durham Performing Arts Center - Durham, NC

The Durham Performing Arts Center (DPAC), developed by Garfield Traub, is getting a lot of media attention lately with its key role in the transformation of downtown Durham into a thriving destination with an array of restaurants, entertainment and shopping. Although some openly doubted the project in the past, many of those same people are now retracting their criticism and praising the development instead.

“We are proud of what DPAC has accomplished for the redevelopment of Durham,” said Garfield Traub Principal Greg Garfield. “Durham’s downtown dining and shopping experience has been greatly enhanced by the DPAC, and we at Garfield Traub are glad that we had the opportunity to lead the development.”

In a July article entitled “DPAC: Proof is in the profit,” one local correspondent admitted he wrongly thought in 2007 that the Durham City Council was “digging itself into yet another financial hole” with the project. Now that same reporter has gone on to say, “bully for all the people who gave life to DPAC. You have a big, brassy hit on your hands. It couldn’t have happened to a more deserving burg.”

Additionally, a recent article in The New York Times Travel section attributed a big part of Durham’s success to the development of the Durham Performing Arts Center.  And if that were not enough, trade publication Pollstar announced DPAC as ranking second nationally in theater attendance for the first quarter.  This is a huge honor for Durham, which is competing against other widely-known theater markets like Los Angeles and New York City.

The Durham Performing Arts Center operator confirms that the design of the DPAC ensures there isn’t a bad seat in the house. It is this design that keeps popular performances such as Broadway favorites Wicked, Billy Elliot and RENT, comedians and actors Bill Cosby and Al Pacino, and musical acts such as Leonard Cohen and B.B. King coming and attendance so high. And with a highly-attended theater comes many businesses that have flocked to the area to reap the benefits from the many concert-goers the theater brings.

“Garfield Traub was instrumental in the planning for the DPAC,” said Alan DeLisle, Assistant City Manager for Economic and Workforce Development (2002 – 2009). “The City of Durham has benefited greatly from their leadership and expertise in this process.”

Read more about the development details of the Durham Performing Arts Center. To learn how you can get your public infrastructure financed and developed contact Garfield Traub.

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