TAMRMS#: B06
5.1
Information Item Only
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Arden Theatre Operating Model Review
Presented by: Elizabeth Wilkie, Director, Community Services
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SUMMARY
This report is to update Standing Committee of the Whole on the recommendations from the 2020/2021 Ernst and Young (EY) Operational Review related to The Arden Theatre's operations, focusing on Administration's ongoing work to reduce the net cost to the City and realize identified cost savings. The EY review highlighted two key opportunities: The Arden Theatre ticketing system and exploring partnership structures for operations. In 2021, the City implemented an in-house ticketing system, saving $35,000 annually and increasing revenue through the retention of user fees. Since the review, the City has continued to implement cost-saving and revenue-generating measures, with the full benefits expected to match the cumulative five-year net benefit identified through the EY review of $786,000 to $1.76 million.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
N/A
BACKGROUND AND DISCUSSION
In 2020/21, Ernst and Young (EY) completed the Operational and Fiscal Review to identify mid-to-long term opportunities that the City can pursue to realize cost savings, generate additional revenue, and/or modernize processes and practices. Two opportunities identified are related to The Arden Theatre operation:
Opportunity One: The Arden Theatre Ticketing System
Review of the ticketing systems to analyze options that would improve functionality and usability to gain operational efficiencies such as reducing manual tasks and eliminating shadow functions. The recommendation proposed that an enhanced pricing strategy may also be leveraged and the expansion of the ticketing system for the sale of tickets for other City events.
The new ticketing system implemented in 2021 has reduced transactional fees resulting in $35,000 savings annually.
Opportunity Two: Exploring Partnership Structures for The Arden...
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