Issue - meetings

BEAM Trading Update

Meeting: 26/11/2025 - Audit and Governance Committee (Item 253)

253 BEAM Trading Update pdf icon PDF 124 KB

Minutes:

The BEAM Venue Director introduced the report, accompanied by a slide presentation which gave an overview of BEAM’s achievements and challenges since it’s opening.

 

The Chair thanked BEAM’s Venue Director for the report and his presentation.

 

Members agreed that BEAM was a fantastic resource. Questions were asked regarding cinema attendance, food offering and, the venues website.

 

The Committee were told that cinema occupancy at BEAM was higher than other similar venues across the country, but there were plans to improve on the current 21% with a broader cinema programme. To include first release blockbusters, specific theming, cult classics and Q & A events – for which a higher price can be charged. It was further explained that cinema customers also used BEAM’s food and beverage offerings - which delivered a higher profit.

 

Members heard that BEAM’s food offering was designed to be contained and cautious at first and would remain focused on reducing food wastage. They were told that the menu would develop (but the small kitchen made food allergy guarantees unachievable) and opening hours would expand, with growth expected to continue in conference and delegate catering rates. It was confirmed that the venues ‘wet sales’ gave BEAM’s largest proportion of sales and income.

 

The BEAM Venue Director said that he shared the Committee’s frustrations regarding the venue’s website, and that web presence was a priority to future proof the business. He said that the team was working with web developers on the next phase of the website which was due to be delivered early next year.

 

Members questioned where the benchmarking within the report was sourced and asked if BEAM’s board had considered external challenge – such as peer reviews to monitor performance. Clarity was also sought regarding expenditure in the venue’s business plan.

 

Members were advised that data came from several sources and covered a large number of venues. With data was also available around increased footfall into Hertford – which appeared to correlate with events at BEAM. The Executive Member for Communities said that she would happily take the Committee’s suggestions regarding external challenge to the next BEAM Board meeting.

 

Members heard that a range of backstage and technical services and packages were offered to commercial performers. And that a contract review had been undertaken, and a number of changes had now happened to pull back on expenditure, including strict wage targets - with a casual workforce, a reduction in utilities – using modelling from PHD students and a now detailed understanding of BEAM’s landscape and growth.

 

It was moved by Councillor Deering and seconded by Councillor Nicholls that that the recommendations, as detailed, be approved.

 

After being put to the meeting and a vote taken, this motion was declared CARRIED.

 

RESOLVED – that BEAM’s position be reviewed and any recommendations made to the Executive Member for Wellbeing in regard to BEAM’s performance.