Media associated with this campaign
Overview of this campaign
The International Pro Darts Showdown Series had several business objectives:
- Prove up a new concept and business model
- Test and learn from a smaller scale event that could be scaled nationally
- Provide a business case back to management to showcase the scope of where an events business could lead
- Ultimately generate a profit to show that events can be a stand alone profit centre for a traditional media business and how an integrated approach can make this a success.
Results for this campaign
To date, the results have been outstanding, and with still 2 events to run (both almost sold out) at the time of this submission, revenue and profit projections are healthy, with an expected profit to be just short of double the current profit. One thing to note that with a test and learn mentality, we’ve identified at least $80,000 worth of savings we could achieve when doing these events again, meaning profit margin can potentially increase another 30%
(Note, profits to remain confidential, but can be used to judge the award submission. Figured have been rounded)
Ticket sales revenue $351,000
Merchandising revenue of $63,000
Sponsorship Revenue of $25,000
Total revenue of $439,000
Total operating costs $348,000
Total Profit for 2 out of 4 events $91,000, projected to be around $170,000 once the final 2 events are complete and final sales, F&B and merchandising comes through.
Using the same model and scaling this, we expect that the 2018/2019 series to be bigger, better and more profitable.
In summary, the International Prod Darts series has been a success and has provided a business case in which events can be profitable for a publishing business. The test and learns has been instrumental in finding cost savings and way to do it better. Showcases that the business model is viable and ultimately makes a profit for the business.