Record profit for Mardi Gras

Record profit for Mardi Gras

New Mardi Gras will announce a stunning profit of almost $500K from the last year and a range of community donations at its Annual General Meeting to be held on August 23.

Indicative of the huge numbers that came out to celebrate Mardi Gras’ 30th anniversary, the concern for the organisation now will be how to maintain, sustain and increase profitability.

New Mardi Gras’ annual report for 2008 has reported a profit of $483,650, which marks a 3.5 percent growth in revenue. This profit will also allow for New Mardi Gras to provide donations to its founding organisations for the first time since its set up.

ACON will receive a donation of $28,000 garnered from the Hats Off production held last festival, while the Gay and Lesbian Rights Lobby has already received a $15,000 cheque.

While the profits are a sign of huge success, there is also concern that the increase is only due to the inevitable success of the 30th anniversary celebrations this year and will therefore not translate to ongoing profitability.

Members are expected to be told of the organisation’s plans to move away from the business plan developed by old Mardi Gras and towards a more sustainable model, which is not as reliant on events like the Mardi Gras Party and Sleaze Ball (which was a financial disappointment last year), to raise revenue.

Plans to boost memberships by another 1500 by the end of next year, plans to combined launch and Fair Day and the expected announcement of substantial NSW Government funding through Events NSW in the coming months are all expected to be outlined to members at the August 23 AGM.

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6 responses to “Record profit for Mardi Gras”

  1. I don’t get why if its so easy to make a huge profit you don’t all start running your own parties and become zillionaires yourselves? Go on, put your money where your mouth is. Or shut up and stop slinging off at Mardi Gras. The day they get sick of being attacked and decide to close it down and walk away, you’ll be the first to complain. Think about it. Well done Mardi Gras your doing a fab job!

  2. Sleaze Ball was a wonderful party, probably the best Sleaze Ball I have ever been to in my whole life. Great theming carried right through from the posters to the decor and the stunning shows and fire effects.

    The profit surely demonstrates a determined group of volunteers who are not encumbered by the poltics of the past. Both Sleaze Ball 07 and Mardi Gras 08 were wonderful events and I’m looking forward to this years Sleaze Ball which is looking pretty hot judging by tonights announcement of the line up.

  3. Bah humbug – as I recall it was more than just ACON, the GLRL and QueerScreen that dug deep to help pull Mardi Gras out of the financial ashes.
    Let’s hope it doesn’t forget all the other organisations – like the Sydney Star Observer – and individuals who also dug deep and helped save the organisation.
    Though looking at some of the previous decisions, it seems New Mardi Gras has long forgotten these little fish.

  4. I’d be concerned for the future as well.
    Even Christopher Skase could have made a profit out of the 30th anniversary.
    In order to move forward it is important for Mardi Gras to diversify its revenue base – and that’s means more than just a (very lame) Sleaze Ball and a stock-standard mardi ras party that follows the same predictable pattern every year.
    The challenge for the future is there – let’s hope the new board can think outside the box a bit more.

  5. Sleaze made no money?
    Hardly a surprise – there was barely a sole there. And let’s face it – Nikki Webster and Toby Allen were hardly great guests from which to rebuild the party.
    Sleaze needs to go back to its roots and stop being little more than a mid-year, downsize reflection of the Mardi Gras party.
    Come on guys – let’s get it down and dirty again.

  6. It wouldn’t have mattered who was in charge of Mardi ras it would have made a profit during the 30th anniversary.
    What is more interesting is the poor ticket sales for Sleaze Ball last year and the fact it made no profit.
    Sleaze, I understand, has always benn Mardi Gras cash cow.
    Perhaps NMG should reconsider the way it is promotig Sleaze to the public and its advertising campaign. I certainly saw very few advertisements for it last year.