2011 Bravo Season Highlights

New York Philharmonic

Dallas SymphonyOrchestra

Jaap van Zweden

Carmina Burana Alan Gilbert

Music Matters

Instrument Petting ZooThe Philadelphia Orchestra

24th Annual Gala

2011 Direct Economic Impact ResultsEXECUTIVE 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.

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

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

2011 Bravo Concert Attendance

Bravo has maintained an annual attendance level over 50,000 since 2003.2011 attendance totaled 59,212.

Where Bravo Concert Attendees Reside

States Represented in 2011

STATE PEOPLE %

AK 0 0.0%

AL 1 0.2%

AR 1 0.2%

AZ 13 2.1%

CA 11 1.8%

CO 332 53.5%

CT 6 1.0%

DC 0 0.0%

DE 0 0.0%

FL 48 7.7%

GA 11 1.8%

HI 2 0.3%

IA 2 0.3%

ID 0 0.0%

IL 13 2.1%

IN 2 0.3%

KS 9 1.5%

STATE PEOPLE %

KY 0 0.0%

LA 4 0.7%

MA 5 0.8%

MD 11 1.8%

ME 1 0.2%

MI 4 0.7%

MN 4 0.7%

MO 6 1.0%

MS 0 0.0%

MT 0 0.0%

NC 0 0.0%

ND 0 0.0%

NE 3 0.5%

NH 0 0.0%

NJ 3 0.5%

NM 16 2.6%

NV 1 0.2%

STATE PEOPLE %

NY 18 2.9%

OH 3 0.5%

OK 4 0.7%

OR 0 0.0%

PA 12 1.9%

RI 0 0.0%

SC 3 0.5%

SD 0 0.0%

TN 1 0.2%

TX 56 9.0%

UT 0 0.0%

VA 4 0.7%

VT 0 0.0%

WA 3 0.5%

WI 2 0.3%

WV 2 0.3%

WY 0 0.0%

Of 620 respondents, the top three states represented at the Festival were:

Colorado = 53.5% | Texas = 9% | Florida = 7.7%

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

2011 Bravo Audience Income Level

Bravo concert attendees are affluent and well-educated. 58% earn between $100K and $250K.

AUDIENCE INCOME LEVEL NET WORTH48% of survey respondents

have a net worth between

$1.5M and $10M.

Bravo Budget History

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

AUDIENCE MEMBERROOM NIGHTS

ORCHESTRA MEMBERROOM NIGHTS

Total = 38,419 room nights

New York Philharmonic = 1,017The Philadelphia Orchestra = 1,100Dallas Symphony Orchestra = 963New Mexico Symphonic Chorus = 138Chamber Artists = 142Young Professionals = 84Administration = 135Critics, 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 = $142.97Total 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.

NEW YORK PHILHARMONIC TOTAL

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

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

“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

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

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.

TOWN OF VAILIMPACT

EAGLE COUNTYIMPACT

TOTAL SPENDINGSALES TAX REVENUE

TOTALSPENDING

SALES TAXREVENUE

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

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.

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

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

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