Bord Gáis Energy has announced a major new six and a half year commercial partnership with Live Nation that will see the Grand Canal Theatre rebranded The Bord Gáis Energy Theatre from 7th March 2012; provide complimentary tickets, discounts on tickets and advance access to purchase tickets to Bord Gáis Energy's one million customers; and see Bord Gáis Energy become the energy provider to the theatre and other Live Nation venues.
The Grand Canal Theatre opened in March 2010 and has already established itself as an important national asset with widespread appeal amongst traditional and non-traditional theatre-goers of all ages and from all parts of the country. Since opening its doors, the theatre has staged a string of hit musicals, operas, concerts and ballets that have attracted over 750,000 attendees. The 2,100 seat theatre was designed by world renowned architect Daniel Libeskind, and offers one of the best entertainment experiences in the country.
Speaking at today’s announcement, John Mullins, CEO of Bord Gáis stated:
“This is an exciting partnership that will deliver a range of unique benefits to Bord Gáis Energy customers and their families, including complimentary tickets, generous discounts and advance access to tickets. From a commercial perspective, our decision to agree this partnership was based on a solid business case that delivers customer benefits from year one and yields a positive return on investment over the lifetime of the deal.”
“The Irish energy market is the second busiest market for switching providers in the world. Since 2009, over 1 in 3 electricity customers and 1 in 5 gas customers have changed provider. The expense of acquiring new customers is a significant cost to our business and to address this, we must seek ways to encourage our customers to stay with us for longer by offering them compelling benefits that differentiate us from our competitors.”
“This sponsorship will be a key pillar of our marketing strategy that will deliver a strong improvement in customer retention through a comprehensive customer rewards programme; savings to our overall marketing budget through more targeted engagement with existing customers; improved brand differentiation in an increasingly competitive energy market; and revenue opportunities from being the energy provider to the theatre.”
“This investment will be funded from our existing marketing budget, which will in fact be reduced next year, by reallocating the budget for high profile marketing campaigns towards a targeted sponsorship and rewards programme for existing customers. In addition, we have recently rationalised our sponsorship portfolio to realign it with our target market of families and mums who run the family budget, which we will reach out to through the Bord Gáis Energy books & reading initiatives and the Bord Gáis Energy Theatre.”
Mike Adamson, CEO of Live Nation stated:
“I am delighted to welcome Bord Gáis Energy on board as our partner and I look forward to the next chapter in the theatre’s history as the Bord Gáis Energy Theatre”.
“The Grand Canal Theatre has only been in existence for 18 months and has already established itself as an important national asset with something to offer people from all walks of life. Since launch, over 750,000 people have visited the theatre, demonstrating its strong community and family appeal.”
“Live Nation has an impressive track record of working with sponsors to deliver naming rights and customer benefits programmes, particularly in Ireland, and I am confident that our innovative partnership with Bord Gáis Energy will set a new standard for sponsorships of this kind.
Bord Gáis Energy Commercial Objectives
Bord Gáis Energy has set robust commercial targets in relation to the investment in the Bord Gáis Energy Theatre that includes:
Details of the full customer benefits package will be announced before launch on 7th March. Top line benefits include:
“This deal allows us to invest our resources in our existing customers. Landmark sponsorship deals of this kind have been proven to work in Ireland and we will use our association with the Bord Gáis Energy Theatre to provide an unparalleled experience and range of benefits to our customers,” said John Mullins.
James Dunny, Fleishman-Hillard – 086 388 3903
Larry Donald, Bord Gáis – 087 258 1787
Christine Heffernan, Bord Gáis – 087 050 5555
Kathy Doyle, Grand Canal Theatre – 086 044 9116