Study Confirms Overture Center's Significant Impact On The Local Economy

An economic and fiscal impact analysis by the University of Wisconsin-Whitewater Fiscal and Economic Research Center (FERC) reports Overture Center for the Arts contributed $34,480,000 to the Madison economy during its 2021/22 season, September 2021 through June 2022. Overture engaged in the economic impact study to establish a post-pandemic baseline for its activities.

"The analysis provides a baseline for us coming out of the pandemic," said Chief Development and Communications Officer Emily Gruenewald. "Prior to our 18-month closure, Overture provided nearly 700,000 artistic experiences annually. In our first season open post-pandemic, Overture ramped up operations over a 9-month period, resulting in 288,150 artistic experiences. We felt it was important to conduct an economic survey during this limited season to track the recovery of the arts industry over the next few years. The last time Overture conducted an economic impact study was back in 2010, and it found the center contributed $28.1 million to the Madison economy. It's encouraging to see that even in this reduced season Overture's economic impact has grown to support our community. As we continue to reintroduce more programming in the 2022/23 season, we are seeing stronger attendance and participation, resulting in an even larger economic impact going forward."

Overture Center's economic impact comprises four categories of direct spending and the impact of each category. The direct spending comes from the cost of producing and running shows and events, the cost of maintenance and renovations, and ancillary purchases made by Madison tourists. The money that was directly spent in these four categories was then re-spent in multiple subsequent rounds. These subsequent rounds of spending are categorized as "indirect" spending. The sum of the direct and indirect rounds of spending is what constitutes Overture Center's full economic impact on the Madison economy.

The direct spending was divided up into four distinct categories:

• Broadway: $2.52 million
• Resident Events: $2.50 million
• Non-Resident and Local Events: $680,000
• Operations: $28.80 million

"The importance of Overture Center to the economic health, vibrancy and overall vitality of downtown Madison cannot be overstated," said Jason Ilstrup, Downtown Madison Inc. "Nearly every day, Overture Center welcomes thousands of guests to entertain, enlighten and wow, helping create an energy, spirit and sense of community downtown. Overture Center is at the heart of a successful downtown Madison now and into the future."

Additional highlights from the 2021/22 study include:

• Ancillary spending by Overture Center visitors totaled $6,300,000.
• Nearly 53% of attendees were people who live outside the Madison area.
• Ninety-three percent of attendees from outside of Dane County said that attending a show/event at Overture Center was a "very important" factor in their decision to come to Madison.
• Overture Center visitors rented around 7,000 total hotel rooms and their annual hotel spending exceeds $1,000,000.
• Overture Center operations and events also resulted in visitor spending of $4.6 million at local restaurants, primarily located in downtown Madison.

OVERTURE CENTER FOR THE ARTS in Madison, Wis., is a 501(c)(3) nonprofit arts organization that features seven state-of-the-art performance spaces and four galleries where national and international touring artists, nine resident companies and hundreds of local artists engage people in nearly 700,000 educational and artistic experiences each year. With the vision to provide "Extraordinary Experiences for All," Overture's mission is to support and elevate our community's creative culture, economy and quality of life through the arts. overture.org

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