Results Released for Third Successful DPAC Season

City of Durham leaders are calling the Durham Performing Arts Center’s third year of operation a success, with earnings of $1.02 million, according to the preliminary, unaudited financial statement released today for the period ending June 30, 2011.  The City owns the facility, which is managed by PFM/Nederlander, operators of performing arts and entertainment facilities in America and worldwide.

“For the third year in a row, DPAC continues to draw people to experience not just great entertainment, but also customer service that can’t be matched,” said Mayor William V. “Bill” Bell.  “While the venue continues to be profitable, what it means for Durham during these tough economic times goes without saying.  The City is fortunate to be able to offer the unmatched entertainment -- from the legendary Diana Ross to award-winning musicals, such as The Lion King -- that people throughout the Triangle region and beyond find irresistible.” 

While DPAC sold over 11,000 season tickets to its flagship SunTrust Broadway Series, the success was driven not only by Broadway shows, but also by the wide variety of events, including concerts, comedy and family shows.  Drawing attendees from all over the Triangle and throughout the state, the season boasted over 357,000 guests, 58 sellouts and hosted over 192 total events.

According to the preliminary, unaudited financial statement, the Durham Performing Arts Center, LLC, generated a net income of a little more than $2.5 million, of which, pursuant to the operating agreement with the City, 40 percent, or a about $1.02 million, will be shared with the City.  Last year’s reported earnings for the City were approximately $1.2 million.  The income will go into the City’s DPAC Fund, which is used for debt service, maintenance, building improvements and other possible revenue shortfalls, including naming rights and hotel/motel occupancy tax.