Music Festival Amendment
January 10, 2022
Rose Bowl Renovation Project
Agenda
Music Festival ‐ Current Agreement
Music Festival ‐ Proposed Agreement
Fiscal Impact in FY22
Displacement Events 2022‐2026
Sound Management
2 Rose Bowl Renovation Project
Music Festival - Current
Term
o Two years with up to five one‐year mutual options
Rent
o $2M per year for the first two years with escalators in years 3‐7. o Threshold
Opportunity to make more than minimum based on calculation of 15% of gross revenues
Number of Events
o Up to six (6) event dates per year
Exclusivity
o AEG is exclusive music festival partner on the Brookside grounds Admission Tax
o $1.79 per ticket in addition to rent outlined above (increases by CPI annually) Ticket Contribution
o $1 per ticket for capital improvements in addition to rent outlined above 3 Rose Bowl Renovation Project
Music Festival - Proposed
Term
o Five (5) years with up to four (4) one‐year mutual options Rent
o Minimum Rent ‐ $3M each year
o Threshold
Opportunity to make more than Minimum Rent based on calculation of gross revenue at a percentage of 8%
Number of Events
o Up to ten (10) event dates per year
Exclusivity
o AEG remains exclusive music festival partner on the campus. Admission Tax
o $1.79 per ticket in addition to rent outlined above (CPI increase annually) Ticket Contribution
o $1 per ticket in addition to rent outlined above would be earmarked for site improvements.
$15M Guaranteed over 5 Years
4 Rose Bowl Renovation Project
Fiscal Impact in FY22
5 Rose Bowl Renovation Project
Displacement Events (as of January 2022)
• 2022
• College Football –9
• Music Festival –1 0
• Soccer –1 ‐2 (potential)
• 2023
• College Football –7
• Music Festival –1 0
• Soccer –1 (potential)
• 2024
• College Football –7
• Music Festival –1 0
• Soccer –1 (potential)
6 • 2025
• College Football –7
• Music Festival ‐ 10
• Soccer –1 (potential)
• 2026
• College Football –8
• Music Festival –1 0
• Soccer –1 (potential)
Rose Bowl Renovation Project
Sound Management
First three music festivals (5 dates) resulted in 3 total neighborhood complaints (2017‐2019)
Significant number of complaints were received for the November 2021 music festival
Staff is working with AEG to identify appropriate C‐weighted (bass) levels for future shows.
May 2022 festivals on consecutive weekends will provide an opportunity to collect data to identify appropriate contractual maximum dBc levels for duration of agreement (particularly focusing on bass oriented shows) A maximum level permitted for dBc will become part of agreement after May events
A community meeting will be hosted by the RBOC and AEG in the week between the two festivals to elicit community feedback. 7 Rose Bowl Renovation Project
Questions
8