By Joseph Aubert – Economics & Business Editor 

On Feb. 3, 2024, Bishop’s campus buzzed with the echoes of laughter, the rhythm of DJ beats and the thrill of winter sports as Winterfest once again enveloped our university in a magical blanket of snow and celebration. The rail jam, the concerts and the vibrant après-ski night at The Gait provided once again Bishop’s students with memories of a lifetime. Yet, beneath the surface of this eventful weekend, there is a behind-the-scenes narrative of economic strategy and financial planning that ensure the success of the beloved event. 

One of the most important elements ensuring Winterfest’s economic sustainability is the careful cultivation of diverse revenue streams, creating multiple sources of income for the event. Year after year, the BU Student Representative Council (SRC) goes beyond traditional ticket sales, tapping into various avenues, including sponsorships, merchandise sales, and bar service through The Gait. This approach helps mitigate the risk associated with dependence on a sole income source while enhancing the overall economic foundation of the event. 

Bryn Empey, Director of Events for the SRC, emphasized the importance of diversification: “We worked hard to create a balanced revenue model. While ticket sales remained a significant contributor, our partnerships with different businesses and university clubs proved to be valuable sources of income, helping us provide the best experience at the lowest possible cost for our students.” 

Erik Morrison, Director of Finance for The Campus, expressed the mutual benefits of such collaborations. “Student organizations working with other student organizations is a great way for everyone to benefit. In this case, Winterfest is an ideal event for us to sponsor since it increases the awareness of The Campus among a broad audience of students at Bishop’s who may not already know about us.” The Campus has been working to regain Instagram followers after Meta’s response to Bill C-18 removed Canadian news from social media platforms, rendering The Campus’ old account inaccessible.

Effectively managing event costs is a delicate balance between delivering a memorable experience and ensuring financial responsibility for years to come. However, the BU SRC enjoys a competitive advantage in planning events of this magnitude. With approximately half of the entire student body buying a ticket to Winterfest, sponsors have significant opportunities to connect with consumers. 

The SRC also offers surveys and seeks student feedback to shape the evolution of the event. Fred Nicolas, a Winterfest attendee, appreciates the emphasis on community involvement. “They genuinely care about what the community thinks. They listen to our feedback and work towards making Winterfest better each year.” 

The magic of Winterfest extends far beyond the surface-level enchantment of winter festivities. Behind the scenes, a carefully thought-out financial plan, partnerships and community engagement ensure that Bishop’s Winterfest not only survives but thrives, casting its craze over the campus and the greater community for years to come.