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2 2008: Estimates of Potential Impact of 2009 Induction Ceremonies in Cleveland Working with CVB created estimates of visitors –Total: 3,800 –Visitors:

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Presentation on theme: "2 2008: Estimates of Potential Impact of 2009 Induction Ceremonies in Cleveland Working with CVB created estimates of visitors –Total: 3,800 –Visitors:"— Presentation transcript:

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2 2 2008: Estimates of Potential Impact of 2009 Induction Ceremonies in Cleveland Working with CVB created estimates of visitors –Total: 3,800 –Visitors: 1,900 (with Cuyahoga County as unit of analysis) –Average nights stay: 2.5 Production costs –Total: $4.1 million –Regional spending: $1.1 million

3 3 Estimates of: Estimates of Impacts: 2008 Employment71 Gross Regional Product$3,573,665 Personal Income$2,281,800 Local Wage Tax (@2%)$45,636 State Income Tax (2.88% ATR)$65,716 CATSelf Supply$5,952 CATImports$1,432 SalesB2B$48,740 SalesConsumer$24,952 Total State Revenue Estimates$146,792 Total Public Revenue Estimates$192,428 Output$5,658,014

4 4 Class of 2009: Bobby Womack, Little Anthony & The Imperials, Jeff Beck, Metallica and Run DMC

5 5 Class of 2009, continued: Wanda Jackson, Bill Black, DJ Fontana and Spooner Oldham

6 6 Induction Week Schedule of Events Artists that performed include: Jack Bruce, Jerry Butler, Pastor Shirley Caesar, Reggie Calloway, Hermans Hermits starring Peter Noone, Tommy James & the Shondells, Dave Mason of Traffic, J. Moss, Little Richard, the OJays, the Raspberries, Richard Smallwood, Musiq SoulChild, Three Dog Night and more. Thursday, March 26 Induction Week Kick Off Party: Downtown Soulville presents Theres a Riot Going On, a vinyl tribute to Bobby Womack (Beachland Ballroom) Friday, March 27 B.B. King (House of Blues) Saturday, March 28 Majic 105.7 Moondog Coronation Ball Quicken Loans Arena Sunday, March 29 Rock My Soul: A Gospel Music Celebration Honoring Pastor Shirley Caesar Allen Theater Monday, March 30 Students Rock! Case Western Reserve SAGES Program University Seminar Writing Rock and Roll, Elite Populism or a Populist Elite? The Rock and Roll Hall of Fame Inductions Tuesday, March 31 Teachers Rock! at the Rock and Roll Hall of Fame and Museum

7 7 Wednesday, April 1 From Asbury Park to the Promised Land: The Life and Music of Bruce Springsteen (Rock and Roll Hall of Fame and Museum, floors 5 and 6) Thursday, April 2 Rock Hall Induction Week Concert for Cleveland presented by the Cleveland Foundation (Cleveland State Universitys Wolstein Center) An evening with Wanda Jackson (Agora). Friday, April 3 A special engagement with Little Anthony and the Imperials (Agora) Kim Simmonds live performance (Winchester Music Hall) Saturday, April 4 Free Day at the Rock and Roll Hall of Fame and Museum Bobby Womack CD signing Rock and Roll Hall of Fame Induction Ceremony Simulcast presented by Jim Beam (Rock and Roll Hall of Fame and Museum) The 24th Annual Rock and Roll Hall of Fame Induction Ceremony (Clevelands Public Hall) The Kings: A Tribute to Run-D.M.C. and Old School Hip Hop presented by Word of Mouth Promotions

8 8 Three Types of Inputs Visitor Spending Production Spending Random Spending

9 9 Visitor Spending Cypress Research Group Visitors to the Rock & Roll Hall of Fame 2009 Induction Ceremony events were surveyed via self-administered paper-and-pencil questionnaires. Participants were randomly selected by intercept interviewers positioned at the Rock & Roll Hall of Fame 2009 Induction Ceremony events. A total of 475 visitors were surveyed. Respondents completed interviews at three different locations associated with the event: The Rock and Roll Hall of Fame and Museum ( 91% of interviews, or 434 respondents) Public Hall (6%, or 29 respondents) Tower City lobby (3%, or 12 respondents) Dates of the induction events were Thursday, April 2, 2009 through Saturday, April 4, 2009. The sample size of 475 affords us a margin-of-error of +/-4.5 % at the 95% confidence level.

10 10 What We Collected on Visitors From these surveys of visitors, we determined the following, as these three pieces of information form the backbone of the economic impact model: Proportion of visitors who are from outside the region (zip codes 44001-44194) The average amount they spent on hotels, meals, travel, entertainment, and retail purchases while inside the region The reason for being in the Cleveland area, and more specifically, in Downtown Cleveland so that dollars which can be directly attributed to the Induction Ceremony events

11 11 Methods Data Collection - Questionnaire Objectives & Structure As mentioned previously, one main objective for this survey was to provide spending data for an economic impact model. This survey captured three primary pieces of information: Residential status of participants (local Greater Clevelanders vs. out-of-town visitors, the latter being of most interest to us); For out-of-town visitors, their primary reason for being in the area (so we can properly allocate the dollars they spend to the Rock and Roll Hall of Fame Induction events or to other activities at the time of the survey); Spending patterns of out-of-town visitors while in the Cleveland area. Resident of Cleveland area? Is visit to the Rock & Roll Hall of Fame 2009 Induction Ceremony Events the main reason for coming to Cleveland area? No Yes What was spent on: ·Lodging? ·Meals? ·Rental car? ·Arts/Entertainment? ·Retail purchases (visual arts and otherwise)? ·Local transportation (taxis, gasoline, etc.)? ·Transportation to/from Cleveland area? ·Parking? Survey is completed and returned

12 12 Visitors Resident Region (All Respondents, n=475)* Using home zip code, we categorized visitors into regions of residence: Almost half (41%) reside outside of the state of Ohio. Three in four (73%) reside outside of Cuyahoga County. Respondents also self-categorized themselves as either Greater Clevelanders or not. Sixty-five percent of respondents categorized themselves as being from outside the Greater Cleveland area. They are referred to as out- of-towners in this report, and they are those who presumably are unlikely to consider visiting Cleveland a regular event. Q2: What is your home zip code? Visitor Demographics *The category of Ohio Nearby Counties includes Lorain, Medina, Lake, Summit, Portage, and Geauga. All other Ohio counties are categorized within Ohio Distant Counties. *23 respondents did not answer this question; they are not included in the base for calculations.

13 13 Out-of-Town Visitors Only: Reason for Visiting Cleveland (Out-of-Town Visitors only, n=311) We saw that most respondents were in Downtown Cleveland specifically for the Rock Hall Induction Ceremony events. In addition to that, the majority (64%) of out- of-town respondents reported that they came to the Cleveland area to attend the Rock Hall Induction events, as opposed to some other reason (visiting family or friends, a different arts/cultural event, etc.). Q9: What was the main reason that you came to the Cleveland area? (check only one) % of Respondents Dynamics of Out-of-Town Visits *18 respondents did not answer this question; they are not included in the base for calculations.

14 14 Mean Spending Per Visitor Party (All Respondents) Dynamics of Out-of-Town Visits *Respondent-defined as those who reside outside the zip codes of 44001 – 44194 ** In the economic impact model, these spending figures were substantially discounted for those who were in the Cleveland area for a primary reason other than the Rock Hall Induction Events Hotel/ Motel Rental Car Transportation to the Cleveland Area MealsArtworkOther RetailParking Local Gas/Taxi/ Bus Fare Entertainment Activities Out-of- Towners*,** (n =227) $225.38$25.50$141.03$130.50$7.03$51.75$14.35$16.44$56.71 Local, non- Cleveland proper, residents (n=73) ---$36.70$0.34$18.06$21.66$5.26$19.49 Cleveland residents (n=32) ---$70.99$2.19$18.94$3.92$4.12$44.70

15 15 Ceremony Other Star Gazers Impact4,6928,3524,964 ROR2,5524,5422,700 Cleveland9881,7581,045 Survey Populations: Outcomes N=31,593 Yielded a Regional Spend of Estimated $3.2million

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17 17 Rock Hall Events Spending Induction2,483,400Lost Gala overhead250,000 Moondog60,000Advertising100,000 Gospel20,000Cleveland press room45,000 Education events10,000Contingency166,060 Wolstein195,400Promoter703,650 Saturday inductions418,250VIP232,050 Total Spend5,244,870

18 18 Private Party Data and Hotel Spends

19 19 So what was the economic impact of 3 days of love and music? City ofCuyahoga Northeast ClevelandCountyOhio Employment142158167 Gross Regional Product$5,619,372$6,990,802$7,459,183 Personal Income$4,217,710$4,902,000$5,106,000 Total State Revenue Estimates$230,242$300,082$330,502 State Income Tax (2.88% ATR) $121,470$141,178$147,053 CAT: Self Supply $7,449$13,483$16,196 CAT: Imports $1,845$2,854$3,851 Sales: B2B $81,920$90,730$93,821 Sales: Consumer $17,558$51,837$69,581 Total Public Revenue Estimates $314,596$398,122$432,622 Local Wage Tax (@2%) $84,354$98,040$102,120 Output$9,583,713$11,709,681$12,531,899

20 20 So, all in, the RRHoF, Sponsors, City, County, PositivelyCleveland, Hotels and Restaurants, were, well:

21 21 So How Will This Be Used? Justify ROI to investors Justify next round of Induction investments Hopefully, Cleveland will get Inductions every three years Weirdly, it seems to work in NYC and Cleveland, but not LA and London. –Go figure.

22 22 The Real Impacts? $7+ million spending by visitors? $5+ million in operating spending? No data on the private parties of Run DMC and Metallica? Getting your picture with Dave Mason: PRICELESS

23 Questions or Comments? Thanks!


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