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FEASIBILITY_STUDY , item 14. PDF 1 MB - Meetings, agendas and ...

FEASIBILITY_STUDY , item 14. PDF 1 MB - Meetings, agendas and ...

FEASIBILITY_STUDY , item 14. PDF 1 MB - Meetings, agendas and ...

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A feasibility study prepared for the Black Box TrustNovember 2011Figure 3.1: Black Box annual audiences, April 2006-July 20112011201020092008200720060 5000 10000 15000 20000 25000 30000 35000 40000 45000 50000Source: The Black BoxNumber of people attending the Black BoxNote: Figures include people attending performances in <strong>and</strong> usage of the café in the GreenRoomNote: 2006 figures represent audiences from April to December <strong>and</strong> 2011 figures representaudiences from January to JulyTaking full years of operation of the venue, as the venue only ran for nine months in 2006,audience numbers have increased steadily between 2007 <strong>and</strong> 2010, rising from 31,150 to43,000. This 38 percent growth in audiences over this period was not only remarkable for theBlack Box as a new performance venue but also for the period of recession it operated in.The contagion of effects as a result of the recession was felt by the majority of households inNorthern Irel<strong>and</strong>. The housing market crash in late 2007/early 2008, where prices plummeted byalmost 50 percent, coupled with rising unemployment <strong>and</strong> increasing fears over job security,had a detrimental affect on consumer confidence <strong>and</strong> spend.In uncertain economic times, consumers tend to rein back their spending on „luxury‟ <strong>item</strong>s orleisure activities, such as theatre tickets <strong>and</strong> concert seats as they are seen as an „indulgence‟,<strong>and</strong> to save a greater proportion of their disposable income.There was overall consensus from the consultations that the Black Box was “good value formoney”. As a “niche <strong>and</strong> cheap” venue it has managed to attract a growing audience.Perhaps, this is part of the Black Box‟s charm, offering quality entertainment on a budget hasstimulated dem<strong>and</strong> for the venue with “tickets for most events selling out”.This is likely to be the trend going forward, given the mass of pay freezes within the public <strong>and</strong>private sectors, the escalating rate of inflation <strong>and</strong> lack of job opportunities. These are all factorsputting downward pressure on household incomes.16

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