August 16, 2005

Mark has losing year for first time

It shouldn't be, but news that The Mark of the Quad Cities had a losing year comes as a bit of a shock. The facility has had great success since it's inception and under it's previous management has been an outstanding success financially considering that it was not expected to make money at all.
But it appears among other factors in the loss, that concert ticket prices are outpacing what people are willing to spend for entertainment.
For the first time in 12 years, The Mark of the Quad Cities operated at a loss last fiscal year.

Ted Johnson, chairman of the Illinois Quad City Civic Center Authority, attributed the $70,000 shortfall to many factors, and stressed that he believes it will be a one-time occurrence.

"It is a fluke," Mr. Johnson said. "It has happened once. Our luck ran out a little bit last year. I don't think we'll get back into the $500,000 profits we have enjoyed over the years, but I think we can still show a profit."

He also said the deficit had nothing to do with the recent decision to sell naming rights, as that process was in the works long before the Authority knew about the shortfall to its $5 million budget.

The Authority last week signed a 10-year contract with i wireless, selling the cell-phone provider naming rights to The Mark for $425,000 a year.

The company already was paying $100,000 a year to be a sponsor of The Mark. That means the arena is getting an additional $325,000 a year from the sponsor.

Last year, The Mark received about $750,000 from sponsor revenue. Other sources of funding include event revenue, suites, concessions, ticket services, and parking -- several of which were affected by various factors last fiscal year.

Mr. Johnson, who has been a member of the Authority since it was formed in 1984, said net profits from concerts is dwindling, a trend that is industry-wide.

Last year, the number of concerts offered at The Mark stayed the same at about 20. However, artists are asking for more money and ticket prices have gone up significantly -- many of the concerts at The Mark were asking in excess of $75 a show. So less people are attending concerts, he said.

For those who do buy tickets, the high prices leave less in their pockets to buy concessions. So the arena's concession sales were down.

In addition, the number of people who are coming to The Mark to watch the Mallards and Steamwheelers also decreased last fiscal year, Mr. Johnson said

> MORE <

15 Comments:

At 8/16/2005 11:46 AM, Anonymous Anonymous said...

Steve Hyman was the reason the MARK did so well.
He's gone now. these arenas have a life span and the Mark's is about up!

 
At 8/16/2005 1:52 PM, Anonymous Anonymous said...

So the City of Moline is on the hook for $70,000 to cover the debt huh?

What does our new Mayor of Moline think about that I wonder.....

Or does he remain silent like he has about virtually everything except the creampuff issues!

 
At 8/16/2005 2:32 PM, Anonymous Anonymous said...

Hey Dope who is going to replace Craig Harmon for that county board seat?
Heard any names?
oh mighty omnipisent Dope!

 
At 8/17/2005 6:14 AM, Anonymous Anonymous said...

I notice the new Mayor of Moline is strangely silent on his accomplishments when it comes to the Mark and the big $70,000 the City will have to cover soon........

 
At 8/17/2005 8:55 AM, Anonymous Anonymous said...

I see the Dispatch and channel 8 did a media blitz for him yesterday. He had his suit on at city hall. it looked very staged.
They needed to do it for him.
I was recently at a Neighborhood Association picnic and more people knew who Pat O'Brien was than the guy who won the election!
Obie has a gift of gab that makes you feel like your related to him or something.
Welvert seemed uncomftrable to be around people.

 
At 8/17/2005 10:28 AM, Blogger diehard said...

It's the Blarney!!

 
At 8/17/2005 1:21 PM, Blogger The Inside Dope said...

Anonymous said:
"Hey Dope who is going to replace Craig Harmon for that county board seat?
Heard any names?
oh mighty omnipisent Dope!"

Sir or Madam, I may be many things, but I've never been accused of being "omnipisent".

Though I must confess, I'm not sure whether to be flattered or offended. So I guess I'll just continue to be amused.

Reminds me of the drunk guy on the A&E show "Airline". They'd banned him from a flight because he was obviously toasted on alcohol, and while he was complaining and protesting to the camera he said, serious as can be, "Who are they to judge whether I'm abbreviated?!"

Yeah! Who are they! The guy obviously knows whether he's abbreviated or not. Bastards!

And I predict that Cookie Hugnutz will succeed Harmon.

 
At 8/17/2005 2:57 PM, Blogger diehard said...

I think Mike Jacobs should be appointed to that office too!

 
At 8/17/2005 4:03 PM, Anonymous Anonymous said...

No I think Darrow should run against Jacobs.

 
At 8/17/2005 4:21 PM, Anonymous Anonymous said...

Very nteresting folks!

Yes, I agree that O'Brien is one of our best local candidates for public office and has a lot of appeal to people of all backgrounds and many different groups.

We need to get the party leaders to give O'Brien a leg up into a position soon. It would be a shame to loose such a promising young guy, and the Democratic party needs to tap into his talent very quickly.

O'Brien has proved he deserves the support and has earned everything he has ever gotten with his own hard work.

John G - are you paying attention??

 
At 8/17/2005 4:59 PM, Blogger diehard said...

What I just woke up from my nap I took sleeping on this bed of taxpayer's money!
Bagoavitch sends me a check and
I have so much money I don't know what to do with it!
And John Kennedy ,LBJ ,FDR, and the sultan of umbamowo were all freinds of mine Whats that? I didnt really know any of those people? but everybody's dead who was around then. OOPs did I say that outloud?
John Gianulis
Sorry Tom I know John's your sugar daddy!

 
At 8/17/2005 5:06 PM, Blogger diehard said...

Ouch thats kid of harsh on the old man. But it is time for John to go!!

 
At 8/17/2005 9:12 PM, Anonymous Anonymous said...

Once again. Where would this blog be without Senator Mike Jacobs as the topic of discussion. It's amazing how powerful this man is.

 
At 8/17/2005 9:47 PM, Anonymous Anonymous said...

Powerful smelling that is anon. Mike Jacobs arrogance just smells!

It is downright nauseating.

 
At 8/18/2005 7:58 AM, Blogger The Inside Dope said...

Anon 21:12
This blog would be just fine without Sen. Jacobs, thank you very much. But upon reading your bizarre commment, I too was prompted to think that a skunk is powerful too.

Now you imagine that Jacobs is the reason for this blog's success?

You folks are truly delusional. Seriously. People emerge in droves with negative opinions of Jacobs and you manage to try to paint this as evidence of his "power"?

Wow!

 

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