Report: Adelaide Festival Centre contributed over $100M to SA economy

Adelaide Festival Centre contributed $107.8 million to the South Australian economy in 2015-16 – up by a third since 2012 when it was last valued at $76.3 million – and created over 1,000 jobs in that period.

The venue had further impact on a social level with its community programs valued at $52.4 million ($45.4 million in 2012), taking its total economic contribution in 2015-16 to more than $160 million.

The data was generated in an Ernest & Young report, which also outlined the fact that attendance for performances at the venue was at an all-time high.

A jubilant Douglas Gautier, CEO of Adelaide’s Festival Centre, who said that the level of economic impact was higher than expected, added, “For every dollar the State Government invested, $8 came back.

“That’s why really great cities like Adelaide are reinvesting in cultural facilities and their operations because they pay back so well.”

Established in June 1973 under Prime Minister Gough Whitlam, the Festival Theatre has a capacity of 2,000, Her Majesty’s Theatre has 1,009 seats, the Dunstan Playhouse has 590 and Space Theatre holds 350.

Gautier warned that the venue’s economic impact would dip over the next three years. The complex is undergoing a major $400 million upgrade to utilise the spectacular river views.

As a result, the Festival Theatre will close between late July and December, as will Her Majesty’s Theatre, which is will be undergoing $35.2 million of renovations.

Added to the complex will be a walk of fame, a new restaurant, re-designed car park and a children’s arts playground.

The Festival Centre has to generate 70% of its budget, and Gautier is in talks with the SA Government about compensation for potential lost revenue.