5 Fascinating Facts About the Business of New Year’s Eve
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New Year’s Eve is a time for celebration, often in extreme excess. People cast off the old year, looking back at their joys and triumphs with fondness, and lamenting but learning from their missteps or losses; they look forward to the New Year with hope and aspiration; and they drink heavily and throw cash around with unbridled frivolity. On any given December 31st, alcohol sales go through the roof and venues around the world fill up with diners, dancers, and revelers in general—revelers ready to spend money like it’s going out of style.
5 The Times Square Ball Is Worth Millions Dollars
The current Times Square Ball was constructed in 2008 and first rang in the New Year of 2009. It weighs around 12,000 pounds and boasts more than 32,256 individual LED lights shimmering through some 2,600 pieces of Waterford crystal. This shiny, 12-foot diameter sphere plummeting above the heads of tens of thousands of people crammed into New York’s Times Square is worth at least two million dollars.
4 Somehow, the Film “New Year’s Eve” Was a Commercial Success
Despite being widely hailed as one of the worst films of 2011, the maudlin ensemble picture “New Year’s Eve” grossed more than $142 million dollars worldwide. As its budget was around $56 million, the film actually turned a handy profit. (Domestically the movie garnered around $54 million.) Despite cramming together stars ranging from Robert De Niro to Halle Berry to Jon Bon Jovi, the movie was generally considered to be “cinematic sludge,” as it was called by critic Roger Ebert.
3 A New Year’s Eve Party at Las Vegas’s Bellagio Can Cost $10,000 Per Person
If money is no object, then why not sign up for one of the most extravagant New Year’s Eve celebrations in America and head to the famed Bellagio hotel and Casino? Each year the Bellagio hosts a grandiose New Year’s Eve party complete with Hollywood stars, world-renowned chefs and flowing cocktails. And with prices starting around ten thousand dollars per guest, the only reasons not to attend this event are that ridiculous price and perhaps the alternative option of spending time with friends and family.
2 45% of All Champagne Sales in America Take Place in the Week Before New Year’s Eve
A staggeringly large proportion of domestic sales of sparkling white wine (technically the word “Champagne” must refer to wine from the eponymous region of France, of course, and not to that four dollar bottle of Andre now sitting in the fridge) take place in the week between Christmas and New Year’s Eve. Experts estimate that more than a quarter of annual “Champagne” sales take place in this one week window.
1 New Year’s Eve Is Not the Biggest Day for Alcohol Sales
Contrary to popular misconception, most shops that sell alcohol will sell less booze in the days leading up to New Year’s than they will before several other dates. Christmas tends to be far and away the largest draw for customers buying booze, with the 4th of July often seeing huge sales as well. In fact, New Year’s Eve is ranked only fifth by industry experts in terms of alcohol retail volume.