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DPAC tops financial projections

Posted November 5, 2009

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— After eight months of operation, the Durham Performing Arts Center more than quadrupled the financial expectations of its first full year, officials said Thursday.

A draft financial statement shows that Durham Performing Arts LLC had a net income of more than $1 million during the fiscal year that ended June 30. Under an operating agreement with the city, which owns the arts center, 40 percent of the profit, or $401,706, is shared with the city.

“That’s truly great news for Durham, especially in light of today’s economy,” Durham Mayor Bill Bell said in a statement. “Our first season has been undeniably successful. The management of DPAC, in addition to operating in a first-rate facility, has found the right combination and diversity of performances that attract people from throughout the region, and the numbers show that.”

Ticket sales, rental income and concessions generated nearly $7.9 million in revenue, while the costs for stage shows ran to more than $5.6 million, officials said. Other expenses included utilities and other operational costs.

The Nederlander Organization and Professional Facilities Management Inc., which together operate the center, loaned DPAC about $100,000 last year to cover expenses before the facility opened last fall. That amount will be deducted from the payment to the city, officials said.

"It's a remarkable achievement for this public-private partnership to achieve positive results in just its first eight months of operation," Nick Scandalios, executive vice president of Nederlander, said in a statement.


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  • Chaniya Nov 5, 2009

    Great shows and fantastic staff! Loved last Friday's Funkfest!!

  • sweetnsour13 Nov 5, 2009

    I hope they take that money and invest in SECURITY around the DPAC. I was there last Saturday and SIX cars had their windows busted.

  • pack-man Nov 5, 2009

    at least one local city makes smart business decisions

  • whatelseisnew Nov 5, 2009

    Well good, it is nice to see something working out well.

  • blytle Nov 5, 2009

    It's an excellent venue for theatre with virtually every seat in the house providing an outstanding view of the stage. Add to that a blockbuster lineup this year and it's no wonder it is a success. I agree with others that their staff is FANTASTIC!! It's a real treat to go there for shows. Congratulations to all who provide such great entertainment in a world class venue!

  • Barrackawack Nov 5, 2009

    Best place to see a show in the Triangle ! Australian Pink Floyd Show was fantastic as was the venue and staff , class act !

  • OakRapp Nov 5, 2009

    Wonder what impact this has had on ticket sales at the Carolina Theater, Duke, UNC, NC Opera, etc.

  • Deacons Nov 5, 2009

    I saw Joe Satriani there, it was a great venue and the sound was perfect, plus NO SMOKING. Thank You DPAC!!!

  • ahlsmiles Nov 5, 2009

    Job well done! One of the best venue's, in my opinion. Well staffed with knowledgeable workers.

  • 007KnightRider Nov 5, 2009

    Congrats DPAC!! Continue to book fantastic shows and I will continue to come back, time and time again. Btw, I wonder how the Progress Energy Center is doing?