You are organising a single-day classical music festival for Taffelmusik at Artscapes Gibraltar Point on the Toronto Islands. Gibraltar Point has a capacity for 1,000 guests and a mixture of different areas whereby you can have retail experience, food and beverage zones and performance stages. You have created a special space for hosting member VIP's which has a capacity for 200 and the general public area will have an area for 800 people. You estimate a 70% sell through for the general public and an 80% sell through for member VIP tickets. The VIP tickets will be $150 per person while general admission will be $75 per person. Provincial tax will not be included in the ticket price, however the 5% ticket charge will be included in the ticket price. The costs of marketing the event will be relatively low, as Taffelmusik will use all their own in-house mailing lists plus creative team to develop all materials. The biggest marketing expense will be a radio sponsorship package with the local classical radio station at a cost of $3,000. You plan to generate additional revenue for the festival by renting 6 retail kiosks at $50 each. Additionally, your title sponsor the Bank of Ontario will pay you $4,000 to be the title sponsor of the event. To make additional revenue, you produce 100 limited edition T-shirts in advance of the show at a cost of $10 each and sell them at the event for $25 each. The Gibraltar Point park will cost $5,000 for the day. Additionally you will need to rent furniture from Chairman Mills at a cost of $2,000 and pay a staffing agency $3,000. Your director of programming will have a budget of $15,000; $10,000 to hire 2 supporting, 1 opening and one headliner act to perform plus $5,000 for staging, audio production and lighting from Apex Sound. These will be paid after the event. General ticket fans will purchase food and beverage from one of the two food trucks while VIP's will have food included. The food included package will cost you $50 per person for the festival.

Question 13 (1 point)

Question 13 options:

P4Q4a. What is the total event revenue (5+7+8)?

Question 14 (1 point)

Question 14 options:

P4Q4b. What % of the event revenue come from ancillary revenue (7)? (Please write as a percentage to the nearest percent with the sign at the end, ie 25%)

Question 15 (1 point)

Question 15 options:

P4Q4c. What are the total expenses (9+10+11)?

Question 16 (1 point)

Question 16 options:

P4Q4d. What is the net profit for the music festival?