2. 2011 Bravo Season Highlights New York Philharmonic Dallas Symphony Orchestra Jaap van Zweden Carmina Burana Alan Gilbert Music Matters Instrument Petting Zoo The Philadelphia Orchestra 24 th Annual Gala

3. 2011 Direct Economic Impact Results EXECUTIVE SUMMARY, METHODOLOGY & DATA Bravo retained BBC Research & Consulting to estimate the direct economic impact created by the 2011 Festival on Eagle County. The Festival and BBC created an intercept survey for both Festival attendees and orchestra members that was administered at various Bravo concerts at the Amphitheater, Vail Mountain School, Vilar Performing Arts Center, Cordillera and Gypsum. Both paper and online surveys were administered with more than 800 surveys completed. Demographics and spending data from audience and orchestra members were gathered from the survey. The total direct economic impact that Bravo had on Eagle County includes the direct local spending by Festival attendees and orchestra members and the associated tax revenue. These estimates do not include indirect and induced impact from this economic activity and the model includes conservative estimates of spending. The most critical factors influencing the economic benefit are the number of attendees; their length of stay; and their food and beverage, lodging, shopping and activities expenditures. BBC aggregated personal responses from the surveys and relied on total concert attendance and orchestra data provided by Bravo. This analysis distinguishes between Festival attendees that live in the Valley and those that traveled from outside the region and between visitors to Eagle County that listed Bravo as a primary reason for their visit and those that did not. BBC created an economic impact model that identifies spending in Eagle County and in individual communities within Eagle County by audience and orchestra members. The pages in this presentation highlight results from the survey and the economic impact the Festival has on the Town of Vail and Eagle County.

4. Total 2011 Bravo Attendance 59,212 * Music Matters events attendance totaled nearly 9,000 43% of survey respondents have attended 8 or more Bravo seasons. 88% of survey respondents have previously attended a Bravo event. Total 2011 attendance at Bravo concerts and Music Matters education events

5. 2011 Bravo Audience Satisfaction 85% of survey respondents are likely to return to the Festival in following years. 82% of survey respondents are highly satisfied with the quality of Bravo events. 86% of concert-goers are likely to recommend Bravo to a friend or family member

6. 2011 Bravo Concert Attendance Bravo has maintained an annual attendance level over 50,000 since 2003. 2011 attendance totaled 59,212.

7. Where Bravo Concert Attendees Reside

8. States Represented in 2011 STATEPEOPLE% AK00.0% AL10.2% AR10.2% AZ132.1% CA111.8% CO33253.5% CT61.0% DC00.0% DE00.0% FL487.7% GA111.8% HI20.3% IA20.3% ID00.0% IL132.1% IN20.3% KS91.5% STATEPEOPLE% KY00.0% LA40.7% MA50.8% MD111.8% ME10.2% MI40.7% MN40.7% MO61.0% MS00.0% MT00.0% NC00.0% ND00.0% NE30.5% NH00.0% NJ30.5% NM162.6% NV10.2% STATEPEOPLE% NY182.9% OH30.5% OK40.7% OR00.0% PA121.9% RI00.0% SC30.5% SD00.0% TN10.2% TX569.0% UT00.0% VA40.7% VT00.0% WA30.5% WI20.3% WV20.3% WY00.0% Of 620 respondents, the top three states represented at the Festival were: Colorado = 53.5% | Texas = 9% | Florida = 7.7%

9. AGE 18-24 Years = 1% 25-34 Years = 3% 35-44 Years = 4% 45-54 Years = 11% 55-64 Years = 32% 65-74 Years = 37% 75+ Years = 11% 757 total responses 2011 Bravo Audience Age & Gender Bravo’s audience is 60% female. 43% of all concert-goers are between the ages of 45 and 64. GENDER M = 40% | F = 60% 752 total responses AUDIENCE AGE RANGE

10. 2011 Bravo Audience Income Level Bravo concert attendees are affluent and well-educated. 58% earn between $100K and $250K. AUDIENCE INCOME LEVEL NET WORTH 48% of survey respondents have a net worth between $1.5M and $10M.

11. Bravo Budget History Bravo has maintained an annual budget over $7M for the past 6 years, including a 2012 projected budget of $8.3M.

12. AUDIENCE MEMBER ROOM NIGHTS ORCHESTRA MEMBER ROOM NIGHTS Total = 38,419 room nights New York Philharmonic = 1,017 The Philadelphia Orchestra = 1,100 Dallas Symphony Orchestra = 963 New Mexico Symphonic Chorus = 138 Chamber Artists = 142 Young Professionals = 84 Administration = 135 Critics, press, piano tuner, etc = 50 Total = 3,629 room nights Total room nights for concert-goers and orchestra members = 42,048 2011 Bravo Lodging Statistics Average spent per room night, per party = $142.97 Total 2011 lodging expenditures in Eagle County = $2,534,113 More than $1.6M was spent on lodging by concert-goers and orchestra members in the Town of Vail.

13. NEW YORK PHILHARMONICTOTAL Antlers at Vail$48,870 Vail Cascade Resort & Spa$56,547 The Lodge at Vail$6,075 In-Kind Contributions$200,000 Total$311,492 DALLAS SYMPHONY ORCHESTRA Antlers at Vail$36,135 Vail Plaza Hotel$28,512 Vail Marriott Resort & Spa$7,110 In-Kind Contributions$200,000 Total$271,757 THE PHILADELPHIA ORCHESTRA Antlers at Vail$54,300 Vail Cascade Resort & Spa$61,182 In-Kind Contributions$200,000 Total$315,482 2011 Orchestra Lodging Expenses in Vail Total orchestra lodging expenses in the Town of Vail = $898,731

14. 2011 Bravo Impact on Vail Shopping Total spent on shopping in Vail $1,458,753 Nearly 40% of audience members shop in Vail $286 per person spent on shopping by concert-goers $187 per person spent on shopping by orchestra members 66% of orchestra members shop in Vail during their stay and spend a total of $88,153 $56,106 in tax revenue was generated from shopping in Vail Total spent on shopping in Eagle county = $3,841,946

15. “Bravo Push” SWEET BASIL’S phrase for the rush of guests they get after Bravo concerts. “The Vail Music Festival enchants its patrons with exciting musical performances. Bravo creates the educational, cultural and social environment that is the life blood of Summer in Vail.” Sue Barham, Director of Marketing & Public Relations LARKSPUR RESTAURANT 2011 Bravo Impact on Vail Restaurants

16. 2011 Bravo Impact on Food & Beverage Spending Total 2011 food & beverage expenditures in Eagle County = $8,076,279 Total 2011 food & beverage purchases in Vail $3,838,998 An average of $67 per day was spent by concert-goers on food, beverage and groceries $97,397 in tax revenue generated in the Town of Vail through audience and orchestra food and beverage purchases An average of $601 per party was spent by orchestra members on food, beverage and groceries $175,000 was spent on GRFA concession purchases at Bravo performances

17. Eagle County Direct Economic Impact EAGLE COUNTY DIRECT ECONOMIC IMPACT The model includes conservative estimates of guest and orchestra member spending, as to not over-state the direct spending in Eagle County associated with Bravo.

18. TOWN OF VAIL IMPACT EAGLE COUNTY IMPACT TOTAL SPENDING SALES TAX REVENUE TOTAL SPENDING SALES TAX REVENUE Food & Beverage $3,740,145$149,606$7,897,461$325,239 Lodging $1,561,281*$67,105$2,434,813*$130,642 Shopping $1,402,647$56,106$3,728,929$175,787 Activities $613,681$24,547$1,345,216$64,340 TOTAL $7,317,755$297,364$15,406,419$696,008 Eagle County Direct Economic Impact Bravo’s total 2011 direct economic impact including sales tax revenue $16,102,427 * Not including $600,000 in-kind lodging contributions

19. Town of Vail Direct Economic Impact TOWN OF VAIL DIRECT ECONOMIC IMPACT The model includes conservative estimates of guest and orchestra member spending, as to not over-state the direct spending in Town of Vail associated with Bravo.

20. AUDIENCE IMPACT ORCHESTRA IMPACT SALES TAX REVENUE Food & Beverage $3,413,284$326,861$149,606 Lodging $1,172,797$388,485*$67,105 Shopping $1,314,494$88,153$56,106 Activities $522,204$91,477$24,547 TOTAL $6,422,779$894,976$297,364 Bravo’s total direct economic impact to the Town of Vail in 2011 $7,615,119 * Not including $600,000 in-kind lodging contributions Town of Vail Direct Economic Impact

21. Bravo! Music Festival had a substantial economic impact in Eagle County and the Town of Vail. Nearly 60,000 guests attended the 2011 Bravo Festival, and 715 orchestra members traveled to Eagle County, many with additional people in their party. Spending and tax revenue estimates indicate that Bravo generated a total direct impact in Eagle County exceeding $16.1M, and more than $7.6M was spent in the Town of Vail. The Festival reports a $2.8M dollar increase in its direct economic impact in Eagle County and a half million dollar increase in its direct economic impact in the Town of Vail. (2010 direct economic impact results including taxes were $13.3M in Eagle County and $7.1M in the Town of Vail). 2011 Direct Economic Impact Conclusion

22. 2011 Direct Economic Impact Highlights BBC Research & Consulting Company hired by the Festival Economic impact of $16.1M -- nearly $3M more than 2010 Total Orchestra spending exceeded $1M 24 years of consistent growth Attendance levels have been over 50K since 2003 An annual budget of over $7M for the past 6 years