FOR IMMEDIATE RELEASE
July 18, 2024 (St. Petersburg, FL) – The Palladium Theater at St. Petersburg College commissioned an independent economic study in support of their $10M capital campaign to transform the historic building’s interior into a 21st-century performing arts center. Research Data Services (RDS) conducted the study, demonstrating how the capital project will enhance and promote Pinellas County as a tourist destination. The study also revealed that the Palladium has a much larger economic footprint than previously thought.
The study analyzed on-site interviews and emailed survey results, along with data from annual attendance records since 2019 and other county tourism data. RDS then forecast economic benefits that the Palladium will contribute over ten years after renovations are completed.
The report demonstrates a total economic impact of over $14M this fiscal year, validating that we are a significant economic driver, while still serving as an affordable venue for artists and patrons. The Palladium served some 67,000 patrons; supported 13,000 total room nights; and supported Tourism Development Taxes of $160,100 in Pinellas County. Following renovations, the venue is estimated to support nearly $300M in total economic impact from out-of-county visitors over ten years.
- 37% – Patrons from out of the county, spending $1.4M on lodging.
- 64% – Visitors dine out, spending over $911,000 locally.
- 35% – Visit breweries.
- 63% – Nearly two out of every three day trippers and half (52.8%) of overnight visitors say that the proposed Palladium improvements would increase their likelihood to travel to St. Petersburg to attend future events.
- 50% – Palladium bookings are from out of town, promoting the Palladium to their fans on social media and attracting them to the venue.
- 36.5% – Respondents post about their visit to the Palladium on social media.
- 15.4% – Resident attendees identify as snowbirds. Although they are treated as residents in terms of economic impact for the analysis, it is clear that the Palladium contributes to the landscape of amenities that make St. Petersburg attractive for people choosing an area for a second home.
Paul Wilborn, Executive Director states “The economic impact report validates that campaign donations are an investment in our mission to bring together performers and audiences in a professional and affordable venue. We are serving our greater community, preserving our history, strengthening our legacy, and demonstrably adding to our economy.”
Wilborn continues, “When the St. Pete Opera needs a performance space, we are here for them. When the Chamber Players, the Nutcracker Ballet, Beacon Dance, La Lucha jazz and hundreds of bands and performers need a stage, we are here for them. After the architectural and acoustic renovations, we will showcase them in a world-class performance space, while also providing 21st-century training for our music industry recording arts program.”
The complete report and campaign information may be viewed on the Palladium’s Capital Campaign page.
ABOUT Research Data Services: RDS has completed hundreds of quantitative and qualitative research studies for tourism organizations, public and private, including accommodations, attractions, airports, special events, sports franchises, parks, restaurants, museums, performing arts centers, and chambers, as well as tourism destinations in Florida and beyond.
Research Methodology: As a basis for the economic impact projections, Research Data Services conducted primary survey-based research with Palladium users through an email to the theater and to St. Petersburg Opera Company’s databases of attendees, a QR code posted in the lobby, and face-to-face interviews with patrons during the month of April, 2024. In total, 3,187 surveys were collected via these channels. RDS additionally referenced data from the Arts and Economic Prosperity Studies prepared by the Americans for the Arts, STR data for Pinellas County, historical and projected inflation rates, as well as other secondary tourism data and our over 30 years of experience with Florida Tourism.
CONTACT:
Paul Wilborn, Executive Director
wilborn.paul@spcollege.edu
727.302.6870
OR
Megan Byrne,
Director of Sales & Communications
byrne.megan@spcollege.edu
727.341.4596
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The Palladium is proud to operate as a department of St. Petersburg College. With its two venues, the 815-seat main concert hall Hough Hall, as well as its intimate award-winning 175-seat candlelit listening room The Side Door, The Palladium fosters artistically and culturally diverse performing arts, educational and community programs that bring artists and audiences together in an affordable, professional, affordable setting. Capital Campaign funding will transform the historic building into a world-class venue for our community guaranteeing our future as a cultural and educational anchor for decades to come.
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