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The primary project that the Company is currently planning and executing is The Extravaganza Music Festival 2022 (Project 2022). A professionally managed, multi-day, live and electronic dance music festival, with all the amenities consumers wish for in a smaller festival but never get, games and activities, primarily local musical talent showcases, within a short drive (~1 hour) from Edmonton. The Company is looking to capitalize on a newly reopened market with competition at a minimum. The scheduled weekend for the event operations is July 14-18, 2022. The expected participation is 2000 people with an additional 500 1-day tickets.
Project 2022 is critical for the success of the Company and has been the sole focus of the management team.
Business Opportunities
The Company is positioned within an industry that has a diverse demographic of customers and opportunities. There are a significant number of revenue sources that the business can utilize. The Arts, Entertainment and Recreation industry provides customers with year round events that fulfill a wide range of markets.
As a business that does not own its own venue, the Company can find open venues and host events all across the city, catering to any type of customer by choosing a specific genre of music or event type to host. There is minimal risk because all events are planned in advance and with advertising and a returning customer base, ticket sales revenue can far outperform all potential costs before much of those costs are incurred.
If the business decides to transition into the property ownership category of the industry, it has the associated risk that any property owner has. Operating expenses and ongoing costs are high, but potential upside is great because being the event promoter, hoster, and venue, capitalizes on every source of revenue associated with the market.
There are also potential revenue sources from brand exposure partnerships, where other event promoters pay us to bolster their event. The Company can work as a consultant. The Company can expand into a marketing firm. The Company can expand into merchandising, selling branded products with significant profit margins.
Music festival season is what is known in the industry as the months between June and September. During this time, music festival companies and event hosting and promotional companies either utilize third party land or purchase their own land as venue grounds. By working with the regional municipalities, the Company is able to receive permits which allow for large multi-day festivals on this land. Insurance companies provide coverage for most types of events and within the scopes the Company expects to operate, there are policies that can be utilized. The upside to these Festivals are significant brand recognition and growth, ticket sales revenue can be expected in the 100’s of thousands for relatively small events. Yearly recurring events are standard in the music festival industry. With proper planning and execution of these events, the Company can expect yearly revenue and consistent yearly growth indefinitely.
The Company plans to enter the industry’s market on July 14, 2022 with its first annual Extravaganza Music Festival. This weekend is a perfect opportunity due to a festival previously occurring during this weekend that is no longer operating. The Company has solidified its place in the market and event dates by executing a marketing strategy early.
Utilizing social media platforms such as Facebook, Instagram, Twitter, and Soundcloud, the Company has begun executing an advertising campaign to drive interest in the festival event. The advertising is also meant to reach other event organizers and solidify our position in the festival season for that weekend. This deters any other events or festivals from also operating on this weekend which is critical for market share and projected ticket sales.
The Company plans to execute The Extravaganza Music Festival over 4 days, with a projected 2000 ticket sales plus a contingent 500 more day ticket available. This, along with revenue from alcohol sales, shower sales, and potential food sales, are potential streams to diversify the Company’s revenue for this event. We recognize the risks associated with alcohol and food sales and are evaluating the RR ratio.
The Company plans to capitalize on merchandising revenue by utilizing its branding and printing shirts, sweaters, stickers, hats, and similar materials and items, and selling them prior, during, and after its events. This is a lucrative revenue opportunity due to the demand of the target audience to own material associated with popular brands.
The music entertainment industry has many more revenue opportunities; the potential is almost limitless. Artist branded content, meet and greets, vip experiences, memberships, contests, pre-parties and after-parties can all be avenues the Company can capitalize on.
The Extravaganza Management Inc. (Company) is an operating business within the Entertainment Industry. The Company operates as an Event Promotions and Planning company, as well as an Event Production and Hosting company. It is bound by a Unanimous Shareholder Agreement and has 3 stakeholders
Goals
Goals
The Company has a goal to solidify its position as a reputable brand within the Edmonton area’s entertainment industry. The Company plans to gain a reputation which attracts customers / fans/ participants/ and artists from all over Canada.
The Company has a goal to provide a one of a kind experience for the music and entertainment community by being a trustworthy and well established brand.
Safe consumption has changed the way large music events handle and manage drug use. The Company has a goal to be a leader in safe consumption avocation and provide the community with support in harm reduction and drug testing at all applicable events. Safety is our number one focus and leads our vision to share a truly beautiful experience with the community that will be held to the highest standards of the industry.
Our mission statement for The Extravagance Management Inc. is to host music events and festivals that create and foster incredible experiences and opportunities for the community,
Our mission statement for The Extravagance Management Inc. is to host music events and festivals that create and foster incredible experiences and opportunities for the community, unlike any other in the industry. To create long lasting and beautiful relationships with the members of the music scene and the people who participate in the Company’s endeavors. Spreading peace and love that is unconditional is of utmost importance for the Company. The Company promises to hold these values steadfast and continue to grow the community in a positive direction through trustworthy marketing, a brand that holds its customers in the highest regard, and an approach to events that differs from the competition. We will provide the professional touch which has not been observed by customers, and always consider the event goer’s experience first when hosting events. The Company’s success is directly associated with the customer’s experience, so we see our impact on the world around us as instrumental in ensuring a long lasting relationship with our community. We know our community shares the same values we do, and promise to present an experience people will look forward to each and every time they choose The Extravaganza Experience.
The Company has a goal to solidify its position as a reputable brand within the Edmonton area’s entertainment industry. The Company plans to gain a reputation which attracts customers / fans/ participants/ and artists from all over Canada.
The Company has a goal to provide a one of a kind experience for the music and entertainment community by being a trustworthy and well established brand.