DPAC continues success in second year

The Durham Performing Arts Center earned nearly $1.2 million for Durham in its second year of operation, according to the preliminary financial statement released Thursday for the 2009-2010 fiscal year. The city receives 40 percent of the revenue of the Durham Perfoming Arts Center, LLC in accordance with the venue’s operating agreement.

The 2,800-seat, $44 million facility has drawn interest from not only the Triangle area but also across the state, accommodating more than 320,000 guests, 61 sellouts and 175 events, according to a Durham news release. DPAC’s total economic impact on the city was more than $24 million last year, according to the Durham Convention and Visitors Bureau. More than one-fourth of the ticket sales were from 32 sellout performances of the popular Broadway show “Wicked,” noted the release.

However, both its flagship SunTrust Broadway Series, for which DPAC sold more than 10,000 season tickets and events such as concerts, comedy and family shows, contributed to the venue’s success.

“Again, this year, the success of DPAC is astounding, especially given the economic conditions that the city, state and country are facing,” said Mayor Bill Bell in the release. “DPAC management continues to find the right combination of excellent customer service, Broadway shows and other performances that make people in Durham, the Triangle, and even statewide, want to attend and return to DPAC.”

The city’s income will go towards the city’s DPAC Fund, used for building maintenance and debt service, and will help compensate for revenue shortfalls such as naming rights and hotel and motel occupancy tax, which total more than $448,000, according to the release.

In addition, following an agreement made earlier this year to pay for additional sound equipment, $164,108, the final payment for half the equipment’s cost, will be deducted from remittance fees to the city.

“The city could use several more shows like ‘Wicked,’ but the reality is that blockbuster shows like this come along rarely,” Bell said in the release. “So we are definitely putting this year’s success in perspective. While numbers are important, we still can say with certainty that the Durham Performing Arts Center continues to be an asset to Durham and to the region, creating an economic impact that benefits everyone.”

­—from staff reports