W01 Slides PDF Introduction Lecture HTT610 F24

Land Acknowledgment

  • Importance of recognizing colonization systems and their impact on privilege and barriers.

  • Acknowledge Toronto Metropolitan University's land as traditional territory of Indigenous Peoples (Wendat, Haudenosaunee, Anishinaabe).

  • Reference to the Dish With One Spoon Wampum Belt Covenant, emphasizing shared care of the land.

Course Overview of HTT610

  • Introduction to the Business of Events and Live Entertainment.

  • Course Agenda includes:

    • Emotional experiences of events

    • Unique traits of events

    • Overview of the live events industry

    • Profile on Live Nation.

Assignments and Evaluation Components

  1. Bonus Event due Nov 18th (2%).

  2. Reading Quizzes (Weeks 2-11) - 14 quizzes, lowest 4 dropped (10%).

  3. Event Math Quizzes (Week 2-11) (10%).

  4. Impact of Events Assignment due Oct 11th (20%).

  5. Midterm Exam on Oct 28th (15%).

  6. Experiential Assignment due Nov 29th (20%).

  7. Final Exam (25%).

Emotional Experience of Events

  • Maya Angelou quote: "People will forget what you said, but will never forget how you made them feel."

Growth in Events Industry

  • Spending on experiences and live events increased by 70% since 1987.

  • Younger generations prefer shareable experiences.

  • Events represent 25% of marketing budgets for organizations.

  • Expected average growth rate of events industry at 11% from 2021 to 2028.

Unique Traits of Events

  • Characteristics:

    • Perishability

    • Fixed timescale

    • Labor intensity

    • Creativity

    • Intangibility

  • Service Characteristics:

    • Personal interaction

    • Ambience

Live Nation Overview

  • Industry leader in live music

  • Ticketmaster: 580 million fans in 2019.

  • Event production: 90 million fans at 40,000 events in 2021.

  • Financial data highlights with adjusted operating income and segmented results for various business areas.

Types of Venues

  1. Large Venues:

    • Stadiums (30,000+ seats)

    • Amphitheatres (5,000-30,000 seats)

    • Arenas (5,000-20,000 seats)

    • Festival Sites (10,000-100,000 seats)

  2. Small Venues:

    • Mid-size Clubs (1,000-6,000 seats)

    • Clubs (Less than 1,000 seats)

    • Other (Dining and music halls).

Revenue Streams in Events

  • Key revenue includes:

    • Ticket Sales

    • Event Foundations

    • Sponsors

    • Food & Beverage

    • Merchandise

    • Government Grants.