The Sea Festival Association announced today that it will pay the City of Long Beach over $32,000 on December 1, per their five-year agreement that the Festival will pay the city $20,000 or 20% of yearly gross revenue – whichever is greater.
The Sea Festival enjoyed a drastic spike in attention and revenue in 2007, sparked mainly by expansive media coverage and the addition of the AVP Pro Beach Volleyball Tour. The Sea Festival Association recently released a preliminary summary report, which the lbpost.com outlined and summarized here.