How Public Performance Facility Leaders in the United States Alter Business Strategies to Increase Revenue

摘要

Public performance facilities exist as places of entertainment and for community gatherings. These facilities are paid for with public funding in most instances, and the goal behind them is to help create a certain image of the community to which they belong, as well as to provide an opportunity for these communities to host and enjoy sports, entertainment, conventions, and similar events. Although there are many benefits to public performance facilities, many are having a difficult time staying open. Budget cuts and an increased awareness of public spending are having a financial impact on these facilities; therefore, facility managers must show that their facilities have the ability to stand on their own financially to survive. Facility managers who are unable to do so face the risk of closure, as communities are unable to afford to keep them. Public funding issues have created a competitive nature among these facilities. The need to create additional revenue opportunities for public performance facilities throughout the United States is vital to their survival. Revenue sources greatly influence each facility and its ownership, customers, sponsors, employees, and community. The purpose of this case study is to examine ways to create additional revenue opportunities for public assembly facilities throughout the United States, as the ability, or inability, to do so directly affects each facility and its ownership, customers, sponsors, employees, and community. The research method used in this study was a case study approach. The case study involved acquiring knowledge through assessing data from previous research in books, articles, and other sources regarding a specific subject. In addition, the study included interviewing several professionals in the public performance facility industry. The idea is to enhance knowledge on a particular subject and create a fresh viewpoint by assessing and analyzing a subject through collecting and interpreting outside research and finding information through the input of current professionals in the industry.