Polk County gets cut of Iowa State's event bookings
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Polk County will receive a portion of revenue from Iowa State venues under a new deal with Oak View Group (OVG), the company that manages the Iowa Events Center.
Why it matters: The deal lets OVG book events outside Polk County's venues for the first time — with the county now sharing in broader regional revenue rather than restricting it.
Catch up quick: OVG's 2004 management agreement with the county prohibited the company from booking services within a 100-mile radius.
- The clause was intended to prevent the company from steering events to venues other than the center's venues, including the 17,000-seat Casey's Center.
Driving the news: Polk supervisors last month unanimously approved an exception allowing OVG to book events at Iowa State venues, including the 61,500-seat Jack Trice Stadium and the nearly 14,300-seat Hilton Coliseum.
- The agreement provides the county with 10% of OVG's net revenue from those bookings.
The intrigue: OVG could not estimate how much Polk County might earn from the agreement because revenue will vary widely depending on the number of shows booked and how each event performs, events center general manager Chris Connolly told Axios.
- Events center profits fell to about $1.84 million in fiscal year 2025, down nearly 40% from $3.05 million the year before.
Yes, but: The decline followed a record-breaking concert year in 2024.
- The number of concerts last year dropped from 18 to 12.
What they're saying: The ISU venues won't compete with the events center, Connolly said.
- Stadium shows at Jack Trice are typically too large for the Casey's Center, and Hilton will likely host only one concert a year because it is widely booked for sports or university-related events, he said.
Zoom in: ISU was going to hire somebody to do the bookings anyway, and hiring OVG gives the company more control of the calendar, Connolly said.
What we're watching: Whether OVG's expanded control over bookings across central Iowa leads to more total concerts in the region.