‘Absolutely fantastic’ 2023 Stampede gives organizers hope for future

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The Calgary Stampede continues its financial recovery from a rough pandemic ride but it still has some distance to travel before reaching all of its pre-2020 numbers.

In 2023, the exhibition rebounded from the pandemic doldrums with an attendance of 1,384,632, just short of the record of 1.4 million set during its 2012 centennial year.

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That’s reflected in a gross revenues for the 10-day rodeo-midway blowout of nearly $97.6 million in 2023, a jump from $82.6 million the previous year and just $307,000 in 2020 when the event was cancelled due to COVID-19.

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“Things are getting better each year — we had an absolutely fantastic 2023 Stampede,” said Stampede CEO Joel Cowley.

When federal government COVID-19 supports are subtracted from the balance sheet, the exhibition saw $1,880,000 in excessive revenues in 2023, up from $845,000 the previous year.

Last year’s edition boasted about $2 million more in operating revenues than in 2022, the lion’s share of that coming during the 10-day July bash.

A major factor in that fiscal comeback is an $8.5 million year-over-year increase in the non-profit’s take from events services and rentals throughout 2023 that reflects growing confidence in the economy and the Stampede, said Cowley.

“We had a tremendous amount of support from community events,” he said.

Even so, this year should be an improvement over last, with the return of an auto show that was cancelled in 2023, said Cowley.

The last of the federal government’s COVID-19 financial supports expired in 2023 but as in recent years, the Stampede’s finances were backstopped by a $6-million provincial government grant as they will be in 2024.

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“Like a number of not-for-profits, we benefit from government that recognizes our contributions to the community and the economic impact,” said Cowley.

That impact is between $500 and $600 million with just over half generated by the 10 days in July.

But there’s still some distance to go to realize a full recovery from the ravages of the pandemic, said Cowley.

Staffing levels decimated by the virus’s impacts should be nearly made up this year, he said, “and we’re also catching up on salaries – for years we didn’t have an increases … We’re still in the midst of a multi-year recovery.”

The pandemic-caused disruption to supply chains and ballooning inflation all negatively impacted Stampede finances and those effects are lingering, said Cowley.

A backlog of capital improvements remains, though a major one – the completed $500 million, 565,000-square-foot BMO expansion — is set to enhance the Stampede’s July experience, said Cowley.

That includes an additional 100,000 square feet of exhibition space for the Stampede’s marketplace.

“It gives us a lot more space to spread out. Hopefully it’ll lead people to stay in the park longer … We’re hoping to approach 2023 attendance levels with it,” he said.

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The expanded BMO Centre officially opens to the public on June 8 and bumps Calgary up into the tier-one convention status.

Early indications of a busy Stampede week are already in the wind with sales of rodeo and grandstand evening show tickets ahead of last year, said Cowley.

Also in higher demand are premium GMC Stadium seats that are largely bought up by corporate entities, he said.

“We’re bring on new sponsors, we have a great deal of momentum,” said Cowley.

Another major new attraction at this year’s Stampede will be the Sam Centre, a hub of immersive displays that tells the story of southern Alberta, the Stampede and agriculture.

“When the chuckwagons go by, you’ll be able to feel it under your feet,” said Cowley.

It’s a year-round exhibit Stampede officials hope will further improve the exhibition’s visitor experience and bottom line beyond the 10-day rodeo, said the CEO.

BKaufmann@postmedia.com

X: @BillKaufmannjrn

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