Del Mar Fairgrounds Surfside Race Place Concert Venue Marketing Analysis PDF Download

Author: Nicolas Cochran
Publisher:
ISBN:
Category :
Languages : en
Pages : 118

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Book Description
The Del Mar Fairgrounds, managed by the 22nd District Agricultural Association (22nd DAA), is a multi-use facility run with the vision of promoting agriculture, education, entertainment and recreation. It is a cultural hub which is home to popular events including the San Diego County Fair, the Del Mar Racetrack, Crossroads of the West Gun Shows, the Del Mar National Horse Show, and many others. In 1991, the Surfside Race Place was built to allow satellite wagering to take place at the Del Mar Fairgrounds and became the largest satellite wagering facility in California. At 90,000-square feet, the facility has the capacity for up to 5,000 people and boasts more than 1,000 TVs, outdoor patios, and casual dining. For several years now, the Surfside Race Place has underperformed, suffering from flagging turnout with current attendance resting at only 300 to 400 customers per day, a fraction of the 2,700 that it once attracted. With the growth of internet wagering and the decline of the horse racing industry, the attendance numbers continue to fall with scant potential of rebounding. The 22nd DAA has begun to explore opportunities to repurpose the facility and capture new revenue. The consideration of this proposal comes at a critical time as the 22nd DAA is looking at updating its Master Plan and how they may better fit the needs of the community and the rapidly growing San Diego County Fair (Houck, 2016), A potential partner, Belly Up, is a local and well-known concert promoter has proposed that the Del Mar Fairgrounds construct a 1,900-seat concert venue, in which the Belly Up will book an estimated 60 to 80 shows per year, excluding the shows expected to be held by the annual fair. The California State University, San Marcos (CSUSM) team of Fully Employed Masters of Business Administration (FEMBA) students, conducted a market feasibility study to accomplish four main objectives: 1. Perform a competitive analysis of concert venues in the region. 2. Conduct a series of customer analytics. 3. Scrutinize the assumptions underlying the current proposal, including the financial model, to convert the current setup of the Surfside Race Place property into a multi-use 1,900-seat concert venue. 4. Investigate promising complementary uses for the proposed venue. Based on the research, the CSUSM FEMBA team was able to validate that it is feasible to book well beyond 60 to 80 concert shows per year in the proposed renovated facility. Also, the team validated Belly Up's statement that there is, in fact, a current gap in the number of music venues designed to seat 1,500 to 2,500 attendees in San Diego, California, particularly North County. Based on the findings of this research, the team recommends that the Del Mar Fairgrounds proceed with repurposing the Surfside Race Place into a 1,900-seat concert venue and consider offering a series of onsite complimentary services to increase the 22nd DAA's revenue stream.