SPTE 203 Exam #1 Study Guide
SPTE 203 Exam #1 Study Guide SPTE 203 001
Popular in Introduction to Events and Venues
Popular in SPTE - Sport & Entertnmnt Mgmt
This 9 page Class Notes was uploaded by Rachel Lightner on Friday September 23, 2016. The Class Notes belongs to SPTE 203 001 at University of South Carolina taught by Professor Jeralds in Fall 2016. Since its upload, it has received 14 views. For similar materials see Introduction to Events and Venues in SPTE - Sport & Entertnmnt Mgmt at University of South Carolina.
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Date Created: 09/23/16
INTRO TO EVENTS AND VENUE VENUES: EXAM REVIEW 1- CH. 1- 5, AND 15 Ch. 1= Pink Ch. 2= Blue Ch. 3= Orange Ch. 4= Green Ch. 5= Purple Ch. 15= Magenta CONCEPTS TO KNOW: Types of Facilities: (Ch. 1) Arena/ Coliseums o Indoor facility with fixed seats and/or portable seating o Permanent or Portable stage Performing Arts/ Theaters o Permanent stage o Permanent seating o Sloped floor o High-end type of venue o No food or beverages o Events- Musicals, Opera, Plays, Orchestra Auditoriums o Permanent stage o Permanent and portable seating o Flat floor o Events- Small concerts, Graduations, Pageants Convention Centers o Exhibit and Meeting space o Large flat spaces o Events- Meeting, Banquets, Career Expos Stadiums o Large facility with seats and bleachers surrounding a field arena o Open air or Dome (Retractable Roofs) o Events- Sports events, Concerts, Award shows Amphitheaters o Open air with stage o Permanent seating o Lawn or portable seating o Seasonal event schedule o Weather can be an issue o Events- Concerts, Entertainment Complex o Combination of 2 or more facilities/buildings o Managed by a single entity o Events- Organizations, banquets, arenas Racetracks o Built for single purpose (To race cars) o Single use/purpose o Events- Race events Aquatic Center o Permanent seating/ portable seating o Single use/purpose o Events- Swimming, Diving Velodome o Permanent/portable seating o Single use/purpose o Events- Bicycling, Cyclist Facility Ownership (Public): (Ch. 1) Owned by city, state county Customer’s interest at heart first Facility Ownership (Private): (Ch. 1) Owned by individual owner Profit Driven PSL: (Ch. 1) PSL= Personal seat license/permanent seat license o A paid license that entitles the holder to the right to buy season tickets for a certain seat in a stadium. SWOT (Analysis): (Ch. 2) Strengths Weaknesses Opportunities Threats GO and Revenue Bonds: (Ch. 3) GO= General Obligation o Issued with the full financial backing of the issuer o Backed up by ad valorem or property taxes o Backed up by organization o Higher bond rating Lower interest rates Revenue o Issued with only the potential financial support of the proposed project o Potential issuers get advice from BOND COUNSEL o Use facility to pay off bonds The Event Triangle (The 3 P’s): (Ch. 2) Promoters Performers Patrons Festival Frames: (Ch.3) Parking Tailgating Entrances Concourses Four Phases of Event Planning: (Ch. 2) Strategic Planning o SWOT Analysis Conceptual Planning o Event staff planning process Contingency Planning o Adaptability Operational Planning o Pre-event briefings Murphy’s Law: (Ch. 2) Anything that can go wrong will go wrong!! Customers & Constituents p.244-245 Customers o Public Comfort and safety is most important Can be the participants as well Constituents o Internal Employees- Safe and efficient working environment Contractors and Vendors- Safe and accessible environment Board Member- Mission accomplishment, communication o External Politicians- Will they be for or against it? Media- Communication, fairness, stories boost ratings (controversy) Business Executives (Sponsors)- Great seats, excellent food and beverage service, VIP entrance, Parking and treatment Feasibility Study (Venue Planning): (Ch. 2) Remodel current venue or build new one Type of venue community wants What community can afford and how to pay for it Facility Planning Committee: (Ch. 3) Facility Use o Facility’s short term and long term goals o Multi-Sport or Single-sport Land Acquisition o Negotiations with land owners o Obtain a series of options o Use of intermediaries A variety of qualified stakeholders o Internal – Employees, Contractors, Vendors, & Board Members o External- Politicians, Media, Business Executives Land Acquisition: (Ch. 2) Use of intermediaries Obtain a series of options Eminent Domain: (Ch. 3) Allows government to take land for public good provided they pay fair compensation 5 Amendment Protections Sport Facility Impact Kelo vs. New London 2005: (Ch. 3) Made eminent domain legal through Supreme Court decision 5-4. It was a case decided by the Supreme Court involving the use of eminent domain to transfer land from one private owner to another private owner to further economic development. Zoning Laws: (Ch. 4) The divisions of the city or county by legislative regulations into areas/zones, specifying the uses allowable for the property in there areas. o Very important to figure out before you begin building o Cannot build a commercial structure in a residential area RFP, RFQ: (Ch. 3) - Soliciting Bids RFQ= Request for Qualifications o Asks for interested architectural companies to submit their qualifications to be evaluated RFP= Request for Proposal o Asking the potential architects what they would do in their design of the project Construction Concerns: (Ch. 3) Securing proper zoning Meeting environmental concerns Creating the physical characteristics necessary to build o Accidents and delays o Inflation Debt Financing: (Ch. 3) Facilities Useful life Types of debt Interest rates Impact of credit rating Know the benefits vs. detriments o Any deferred financial obligation should be contemplated with benefits and potential detriments clearly understood. o Items purchased via debt financing should be long lasting and unlikely to quickly lose their value. o The repayment of debt obligations should occur BEFORE the item purchased loses its useful life. Psychic Benefits: (Ch. 4) Extensive direct financial support Causes emotional benefits and excitement within a community Can market an areas as “big league,” meaning that it will capture the attention of other areas throughout the country Sustainability: (Ch. 1) A comprehensive philosophy in which a variety of environmentally friendly materials and procedures are utilized to help reduce energy expenditures LEED= Leadership in Energy and Environmental Design 2008- 1 LEED Sports Facility Infrastructure Improvements: (Ch. 4) Capital events that materially extend the useful life or increase the value of the infrastructure Tax Abatements: (Ch. 4) An incentive to simulate business/franchise to a city/makes it possible to build one Government relieving taxes Tax Subsidies (Types of Taxes): (Ch. 4) Property taxes Tourism Taxes Sin Taxes Entertainment Taxes Facility (Venue) Revenue Sources: (Ch. 5) Club Seating Luxury Suites Concessions o Per Cap Analysis- Average per person spent Parking Licensed Merchandise o Bootlegged Merchandise- Counterfeit & Takes money from the team Sponsorships o Naming rights Economic Impact Studies: (Ch. 4) Involve the gatherings of data concerning the spending habitats of visitors who have come to the local community SPECIFICALLY because of the sporting event Outsourcing: (Ch. 5) p.77 Need to maximize potential revenues and diminish related expense o Helps maximize every revenue source, and minimize expenses o Potentially more efficient alternative for more areas of facility Performers, Place, Promoters: (Ch. 5) Performer o Guaranteed plus percentage Place o Where it is o Arena rental Promoters o Promoter pays the performer, takes all financial risk o Works with place and performer separately Tentative, Confirmed, Contracted (Booking Terminology): (Ch. 5) Tentative o A hold on the place. o Not final Confirmed o Probably going to get it. o Not official yet Contracted o Firm hold. o Obligations and legal documents (Booking Terminology) (Ch. 5) 1. Tentative/Hold 2. Confirmed/Probable 3. Contracted/Firm Reserved, General Admission and Festival Seating: (Ch. 15) Reserved: o Everyone has their own seats on their ticket General Admission: o Can sit anywhere o First come first serve Festival Seating: o Lawn seats Ticket Distribution: (Ch. 15) p. 238-239 Box Office Outlets Phones Internet Scalping: (Ch. 15) Scalpers= ticket brokers Buying and selling tickets for a profit illegal Deadwood and Drop Count (Ch. 15) Deadwood o The amount of unused tickets that were already printed Drop Count o Stubs counted to see how many people actually came into the event Queue Management: (Ch. 15) Involves the study of customer lines and development of strategies to increase efficiency. o The flow of lines impacts potential revenues Primary and Secondary Ticket Markets: (Ch. 15) Primary Ticket Market o Box office o Ticketmaster Secondary Ticket Market o Scalpers o StubHub Paperless Tickets (Ch. 15) Have to purchase with credit card Then to get in to venue you need your credit card for them to scan it to see that you bought the ticket Bar Codes (E-Tickets): (Ch. 15) Use barcode technology to admit patrons to events Scanning tickets with an electronic device is much more efficient than having a ticket taker inspect and then tear a patron’s ticket Enables the facility to more easily replace lost or stolen tickets Customers can often print their tickets at home after purchasing them via Internet Globalization of Sport (Ch. 1) p.8-9 Through individual facilities and events operate in a local community Has been estimated that during 1990-2005 more than $22 billion was spent on the construction and renovation of major professional sport facilities in the US Dynamic Ticket Pricing: (Ch. 15) Factors like day or teams playing affect price NEEDTO KNOW Identify the different types of facilities Understand the role of the key players in the booking process Identify the different types of financing for facilities Understand tickets as limited contracts
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