Expanded Schedule Paying Off For Wizard World So Far
By Nick Tylwalk
Based on the information Wizard World released today for its 2014 second quarter financials, it looks like its decision to expand its calendar of conventions was the right one.
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It’s no surprise that the company made more revenue in the first six months of 2014 as compared to the first half of last year, as the Wizard World schedule jumped from four events to eight through the end of June. But the company’s revenue per event also rose significantly, from $1.1 million per show in the first half of 2013 to $1.5 million per show in the same time period in 2014, suggesting that it’s doing a good job finding new markets where demand for comic and pop culture conventions isn’t being met.
That also bodes well for 2015, when Wizard World’s strategy of expansion will ratchet up another notch. A total of 14 Wizard World Comic Cons are currently scheduled for the first half of 2015, including new events in Madison (Wisconsin), Indianapolis, Cleveland, Raleigh (North Carolina), Las Vegas, Greenville (South Carolina) and Des Moines. Not all of the 2014 events are guaranteed to return either, meaning that the company won’t hesitate to act quickly to eliminate markets from its schedule where it isn’t seeing the desired success.
For now, the focus is still on the rest of 2014, with eight events still to go.
“We are excited to have successfully completed eight of our 2014 events to date, as our team is now preparing for our flagship event in Chicago which is expected to bring tens of thousands of fans to meet over 50 celebrities, including the reunion of the cast from Star Trek: The Next Generation, more than 315 artists and more than 300 exhibitors,” Wizard World CEO John Macaluso said in a press release. “We are thrilled to have already topped our 2013 revenue and we believe we will continue to exceed our expectations for the remainder of the year, increasing shareholder value and organically building our shareholder base with the ultimate shareholders, our fans.”