Sunday, August 14, 2011

Boston Public Library as Destination Venue

Love among the volumes. (Boston Globe, 8/14/2011)

Excerpt: Not only has the library become one of the Hub’s hottest wedding sites, but in rebranding itself as a “destination’’ venue - for all sorts of private events - it’s also pulling in some badly needed cash.

Over the past three years, budgets have been frozen or trimmed and staff positions reduced. Sunday closings, scheduled to take effect this fall, were canceled by the library board just last week. Every revenue source helps, and hosting weddings is proving to be a fine romance between institutional cachet and economic opportunity

As the article notes, being a "destination venue" is not a game-changer.

The numbers:
$39,700,000.  BPL budget for FY2012, i.e. July 1, 2011, to June 30, 2012..

$825,000.  Wedding and other special event revenue "last year", which I assume is fiscal year 2011.

$220,000.  Net revenue after expenses (providing extra custodians and security onsite, utility costs, and salaries for the events office).

But every little bit helps.

The special events revenue was used to purchase self-check equipment and fund a new computer center.

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