Mitchell's Corn Palace prepares for seventh annual CountryFest with new revenue model

The Sports & Events Authority Committee meeting held on December 10, 2024, in Mitchell, South Dakota, focused on the financial arrangements and logistics for upcoming events at the Corn Palace. A key discussion point was the sponsorship efforts for events, with committee members noting that local businesses are being approached to contribute financially. The committee emphasized that the Sports & Events Authority (SEA) would play a crucial role in securing these sponsorships, which are essential for the success of the events.

The conversation also highlighted the revenue model for events held at the Corn Palace. It was noted that while ticket sales are a primary source of income, additional revenue streams, particularly from concessions and beer sales, are significant. The Corn Palace operates as a private promoter, handling the sale of beer and collecting the markup, which impacts the overall event costs. The committee clarified that they would be renting the facility to the promoter, who would manage the event logistics.

The financial structure includes a 5% share of ticket sales for the city, along with revenue from concessions and beer sales. This arrangement is expected to provide a steady income for the city while ensuring that the events remain financially viable for promoters. The committee expressed confidence in the Corn Palace's ability to attract events, citing its superior facilities compared to other venues, which enhances the visitor experience.

In conclusion, the meeting underscored the importance of collaboration between local businesses and the SEA to foster a successful event environment in Mitchell. The committee remains optimistic about the potential for consistent events at the Corn Palace, which could lead to increased revenue and community engagement in the future.