Derby’s new Arena, which will stage the 2015 pantomime Aladdin, is expected to make a loss of more than £2 million in its first three years.
The city council, which will run the £27.5 million building, has said projected expenditure on the venue in its first three years will be £6,570,000 while income will be £4,435,000—a shortfall of £2,135,000.
The arena will be able to accommodate up to 5,000 people for live events. The council has announced that Aladdin will be the attraction for Christmas 2015. More than £6,000 worth of tickets have already been sold.
There was no panto in 2014 in Derby because the council’s usual venue, the Assembly Rooms in the Market Place, is closed due to a fire.
The original plans for the Arena, on Pride Park, predicted it would break even. Former cabinet member for leisure and culture Councillor Martin Repton said at the beginning of January: “in terms of sporting facilities, the facilities to hold pantomimes, comedy shows and all the income coming in from gym facilities, we’re confident that it will pay for itself.”
The current leisure and culture boss, Councillor Alison Martin, says the authority is subsidising the Arena so that it can keep prices reasonable.
The Arena is “scheduled to open in early 2015”, according to the council.