Vancouver’s Celebration of Light is on track to break even on its $1.2 million 2011 budget, organizers told Business in Vancouver hours before last night’s fireworks display. A profit may even be in the cards.
Sponsorships make up the lion’s share of the budget, although organizers have introduced new revenue streams this year compared with last year.
Costs are also down because the festival is only three nights this year, compared with four nights in past years.
Corporate clients have bought $5,000 luxury “chalets” at Vanier Park, according to Catherine Runnals, president of brand.LIVE, which produces the fireworks extravaganza.
She also expects to rake in about $30,000 over the three nights from selling $55-grandstand seats and $150-VIP seats.
“The bottom line is that we need to break even on the events,” she said.
The City of Vancouver is spending hundreds of thousands of dollars for policing and sanitation during the three nights – money that is not included in Runnals’ budget.
Her budget is for things such as:
- pyrotechnics;
- production (sound and lights);
- portable toilets;
- fencing;
- security;
- lifeguards;
- signs; and
- marketing.
Glen Korstrom
Twitter: GlenKorstrom