BOK Center 1Q sales-tax revenue tops half-million
BY BRIAN BARBER World Staff Writer
Saturday, November 12, 2011
11/12/11 at 8:08 AM
Read reviews, a list of upcoming events and other BOK Center coverage.
The BOK Center generated $573,880 in sales-tax revenue for the first quarter of the fiscal year, financial reports show.
Tulsa's downtown arena also realized a $322,843 operating profit from July through September.
"We have started off the fiscal year strong and are very comparable with where we were at this point last year," BOK Center General Manager John Bolton said.
Five concerts in September - Taylor Swift, Def Leppard, Santana, Alan Jackson and Katy Perry - helped make the quarter a success, he said.
There's an ebb and flow to the concert industry - who goes out on tour and when - that makes some months stronger than others, Bolton said.
Now in its fourth year, the BOK Center hasn't lost any of its luster, he said.
"We sell tickets to our events at or above the norm," Bolton said. "And the awards and recognition that we've been getting have helped keep us on a high level of publicity in the industry."
As the concert industry rebounds with the economy, he said, "I think we are well-positioned."
Within the industry, which has had a dearth of touring product in the past few years, there's "a mildly upbeat outlook," Bolton said.
Already on the BOK Center's books are upcoming stops by Lady Antebellum, Roger Waters' "The Wall: Live" tour, George Strait and Martina McBride, two shows of Trans Siberian Orchestra's Christmas concert, and Cirque du Soleil's Michael Jackson The Immortal Tour.
There will be four or five major events to go on sale before the end of December, Bolton said, adding that these are shows that have not been made public.
The only factor that may keep the BOK Center from reaching the $1.6 million profit from last fiscal year is that there will be no major college basketball tournament such as last March's NCAA visit.
"When you take that out of the equation, everything else is looking very similar (in terms of the financials)," he said, "and that's good."
Bolton encouraged Tulsans to support the local hockey team, the Tulsa Oilers, by "rediscovering hockey again."
The season runs from now until spring.
"They were a great team last year," he said. "They made the playoffs. It's a great, fun, affordable product, and there are a lot of games."
The $573,880 generated in sales-tax revenue for the first quarter is realized from a net of $6,655,386 in sales of tickets, T-shirts, concessions and other items. The money is split among the city of Tulsa, Tulsa County and the state based on their shares of the 8.517-cent sales-tax rate.
The $322,843 in profit comes from $1,803,145 in venue income such as in-house concessions, rental fees and other charges, offsetting $1,480,302 in expenses such as employee salaries, maintenance, insurance and utilities.
In August, the Tulsa World reported that 36 of the BOK Center's 680 club seats had become available for sale during the contract renewal process.
Now, only two remain. Each starts at $1,950 annually with a minimum three-year contract.
Club-seat patrons receive a variety of perks, including tickets to all Oilers games.
They also get the first option to buy their seats for all other events, including big-name concerts.
The BOK Center is also selling ONEOK Loge Club memberships for $1,500 annually per person for two-year terms.
A membership allows one to purchase guaranteed lower-bowl tickets, access to the ONEOK Loge Club Bar and first priority to become a contracted club-seat holder, among other benefits.
For either packages, call BOK Center Business Development Manager Evan Falat at 918-894-4266.
Original Print Headline: BOK tax revenue tops half-million
Brian Barber 918-581-8322