Author Topic: SDCC 2022: July 20-24, San Diego  (Read 8532 times)

Offline Mel

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Re: SDCC 2022: July 20-24, San Diego
« Reply #135 on: June 26, 2022, 10:23:10 PM »
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Lower attendance would explain cost cutting.  They have less revenue to work with.  Inflation is also a factor.  Everything is more expensive than it was when they set those badge prices 3 years ago.  Which is why it never made sense to me for them to rollover badges.
I'm pretty sure they could not afford to refund all the badges. That money got them through the past 3 years paying full-time staff and putting on the virtual cons.

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Offline chocolateshake

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Re: SDCC 2022: July 20-24, San Diego
« Reply #136 on: June 27, 2022, 01:01:56 PM »
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I'm pretty sure they could not afford to refund all the badges. That money got them through the past 3 years paying full-time staff and putting on the virtual cons.

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I do agree that things seem tight based on recent reports.  Tighter than I thought they would be 2 years ago when this all started.  Afterall Turkeycon was reportedly held to raise money.

At the end of 2019 their net assets were enough to pay for both a comic-con and a wondercon.  Which is in line with what I've heard them say at a panel.  That they had enough in reserve to cover the cost of a failed comic-con.  Which to me meant a complete failure.  They paid for everything but got no revenue in return.  It didn't help those reserves that 2018 and 2019 were not good years.  They lost a couple of million in 2018 and 2019 was basically flat.  Normally they make a 2-4 million each year.

In addition there were those Pandemic era "loans" that were basically grants as long as everything was done right.  They took advantage of those programs.  They got PPP loans in both 2020 and 2021 that enabled them to retain their employees.

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Re: SDCC 2022: July 20-24, San Diego
« Reply #137 on: Today at 04:01:39 PM »

Offline Mel

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Re: SDCC 2022: July 20-24, San Diego
« Reply #137 on: June 27, 2022, 01:04:29 PM »
I wonder how they lost money in 18 and 19. They both felt as packed as ever

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Offline Cut That Meat

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Re: SDCC 2022: July 20-24, San Diego
« Reply #138 on: June 27, 2022, 03:45:10 PM »
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I wonder how they lost money in 18 and 19. They both felt as packed as ever

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Wonder if that's when they were making big investment with regards to building up and staffing the Museum? Did they buy the building?
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Offline Car_Low

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Re: SDCC 2022: July 20-24, San Diego
« Reply #139 on: June 27, 2022, 04:22:10 PM »
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Wonder if that's when they were making big investment with regards to building up and staffing the Museum? Did they buy the building?

The city owns all the buildings in balboa park they just lease it for $1 a year but the tenant is responsible for all upkeep and repairs.  They spent a lot to renovate the building just before the pandemic hit.

Offline Transmute Jun

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Re: SDCC 2022: July 20-24, San Diego
« Reply #140 on: June 27, 2022, 05:05:05 PM »
Yeah. it's not like they were making money on museum admission fees in those years.

Offline chocolateshake

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Re: SDCC 2022: July 20-24, San Diego
« Reply #141 on: June 27, 2022, 11:29:10 PM »
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I wonder how they lost money in 18 and 19. They both felt as packed as ever

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They actually made a little money in 2019.  About as much as a salary for 1 person.  So basically flat.

Revenue was up in 2018 and 2019, so it was just as packed as ever.  But expenses rose more than revenue.  Part of that was due to the increase in salaries and other employee compensation.  Between 2018 and 2019 they added a lot of people.  Both in terms of employees and volunteers.  The number of employees went up about 50% and the number of volunteers more than doubled.

Offline Transmute Jun

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Re: SDCC 2022: July 20-24, San Diego
« Reply #142 on: June 28, 2022, 09:26:45 AM »
Keep in mind that CCI is a non-profit organization. Once they had a decent reserve of cash, there was no need to 'make money'. Having a small 'profit' would have been considered a success (pre-COVID).

Offline chocolateshake

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Re: SDCC 2022: July 20-24, San Diego
« Reply #143 on: June 28, 2022, 12:34:20 PM »
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Keep in mind that CCI is a non-profit organization. Once they had a decent reserve of cash, there was no need to 'make money'. Having a small 'profit' would have been considered a success (pre-COVID).

If their goal is to keep enough in reserve, they do need to make money every year.  Since the cost to put on comic-con goes up every year.  They need more than a small profit every year to keep up.  They need to keep growing the reserve.

2018 and 2019 were not good years.  In previous years they made quite a bit.  In 2017 they made $2.5 million.  In 2015 they made almost $4.5 million.

Offline Mel

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Re: SDCC 2022: July 20-24, San Diego
« Reply #144 on: June 28, 2022, 02:43:54 PM »
I think they did buy the building where they moved their headquarters to in 2019.

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Offline DragonJuls

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Re: SDCC 2022: July 20-24, San Diego
« Reply #145 on: June 28, 2022, 03:26:23 PM »
People who live near me have already received their badge. Received the email that my badge shipped last week but I have no tracking number when I sign into my account.

Argh!!! At least, it can be corrected if the badge doesn't make it to me but I'm so anxious!

Offline chocolateshake

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Re: SDCC 2022: July 20-24, San Diego
« Reply #146 on: June 28, 2022, 05:51:53 PM »
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I think they did buy the building where they moved their headquarters to in 2019.

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They bought it in 2018, it's almost 4 years to the day.  They also bought 3 other buildings in 2016.

Offline Andrew Costa Mesa

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Re: SDCC 2022: July 20-24, San Diego
« Reply #147 on: June 28, 2022, 09:58:13 PM »
My badge arrived last Friday.
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Offline Transmute Jun

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Re: SDCC 2022: July 20-24, San Diego
« Reply #148 on: June 29, 2022, 09:50:35 AM »
For everyone receiving badges and putting them away, don't forget to add your FoCC lanyard!

If you don't have one, Alyssa will have a few at the FoCC gatherings on Tuesday and Wednesday.

Offline Mel

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Re: SDCC 2022: July 20-24, San Diego
« Reply #149 on: June 29, 2022, 12:38:09 PM »
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They bought it in 2018, it's almost 4 years to the day.  They also bought 3 other buildings in 2016.
I did not mean they bought it in 2019. They moved to the building in 2019.

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