Spring Break
Ryan Center resorting to reserve fund to cover deficit
Jeff Sullivan
Issue date: 2/19/09 Section: News
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Right now, the Ryan Center has a $1.1 million operational deficit, which will be partly covered this year by a dwindling reserve fund.
While Vice President of Administration Robert Weygand said the venue would never go under, he admitted there are going to be some changes in the university's business plan to turn a reasonable profit. He added these changes have to happen, as the reserve fund's balance will be negligible after this year.
He said there has been considerably less turnout than expected for most events, the only exceptions being a few like Jay Leno or Kanye West, put on by the Student Entertainment Committee.
"There has been a general decline in almost all events in terms of attendance," Weygand said. "The fact is this, whether they're students or adults, they're finding other places to get their entertainment."
Terry Butler, the general manager for the Ryan Center, said the country's current financial situation has also negatively affected the frequency of events at the Ryan Center, "as many artists currently are not touring, which obviously affects the amount of shows available."
Butler added that the Ryan Center administration is always on the lookout for more efficient and effective ways to advertise the events they are putting on. While they do use an independent promoter, it does not mean the promoter does all the work.
"The promoter sets the advertising budget, but our marketing department works with the local media to place spots," he said. "For a show like Sesame Street Live, for next year we discussed the time period and will move the show to another month, as we think right after the Christmas holiday is not a good time for a show."
He said the two biggest problems for the center are utility costs and lower than expected turnout for events. The Ryan Center works as a rentable venue. The company producing the show, Global Spectrum, rents the space and is responsible for promoting and organizing the event. URI's responsibilities are to ensure the building is kept clean, up to code, and to sell tickets for URI events.
