Title
Centennial Park West 2025 Concert Financial Projections
History
The Village has been hosting ticketed concerts at Centennial Park West since 2019. In 2024, the Village opened the new Centennial Park West venue. During the pandemic, and in 2023 when the venue was under construction, free concerts were held in the CPW parking lot.
In 2025, artists have been secured for three (3) ticketed concerts. These include Firefall, Ambrosia and Pablo Cruise on July 12, Lynyrd Skynyrd on August 8, and Trace Adkins on August 30. Total projected expenses (see attached) for all three concerts are $1,005,980. This includes $561,000 in artist performance fees.
A budget amendment (attached) of $182,150 was approved by the Village Board (Legistar # 2025-0347) on April 21, 2025, increasing the overall Centennial Park West Concert Series expense budget from $851,840 to $1,033,990.
This amendment includes $26,175 for camera equipment and operation for the 4th of July, Taste of Orland Park, two (2) CPW Presents event dates and the CPW Concert Series, as well as audio production services for the July 17 and 24 Centennial Park West Presents concerts.
Additionally, $155,975 of the budget amendment was approved in support of artist performance fees, and production requirements dictated by artist riders, as well as expected increase costs (e.g. increase number of porta-potties and quantity of alcoholic beverages for resale) due to the larger expected audiences.
Projected tickets sales, along with sponsorships, and vendor and alcoholic beverage sales revenue for all three (3) concerts totals $468,600; resulting in an estimated loss for the series of $537,380 in 2025.
Contracts between the Village and Artists are fully executed. Cancellation would result in the full payment of fees to artists.
Financial Impact
Discussion only
Recommended Action/Motion
Discussion only