Quote:
Originally Posted by Bill Bumface
Everyone is worried about concerts skipping Calgary.
Isn't a concert just a way of exporting Calgary money out of the city?
I assume most concerts make far more than they cost to put on, and are a net outflow of money from the city.
Attracting concerts is good from a quality of life standpoint, but I would be shocked if they are economically beneficial for the city.
|
Presumably the company that owns an arena would charge a huge fee to hire the venue out to the concert promoter, who recoups the cost through ticket sales and merchandise, a cut of which is also presumably given to the company who owns the arena. Money for concessions, alcohol, food and whatnot tends to go straight to the company which owns the venue as well. These big concert promoters aren't generally walking away with the biggest cut of the profits from gigs like that. The venue makes a good chunk of money.