5 Fascinating Facts About the Business of New Year’s Eve

New Year’s Eve is a time for celebration, often in extreme excess. People cast off the old year. They start looking back at their joys and triumphs with fondness and lamenting but learning from their missteps or losses. People look forward to the New Year with hope and aspiration, and they drink heavily and throw cash around with unbridled frivolity. But what people don’t think about that there is a lot involved in the business of New Year’s Eve.

Most businesses want you to spend a lot of money, but that is something we do not think about. On any given December 31st, alcohol sales go through the roof and venues around the world fill up with diners and dancers. Celebrators are ready to spend money like it’s going out of style.

Here Are the Top Five Fascinating Facts About the Business of New Year’s Eve:

5.) The Times Square Ball Is Worth Millions of Dollars

las vegas bellagio business of new years eve

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The Waterford Crystal in Times Square on New Year’s Eve is watched by millions of eyes from around the world. At exactly 11:59 pm, the Waterford Crystal Ball begins to drop while millions of voices count down to the new year. This symbolizes the end of the old year and the hope and changes the new year can bring to people.

The current Times Square Ball was constructed in 2008. It first rang in the New Year of 2009. The ball 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 that drops above the heads of tens of thousands of people crammed into New York’s Times Square is worth at least two million dollars.

When the Crystal Ball is shining, it has the capability to display a palette of over 16 million vibrant colors and over a billion patterns. For 2019, over 1,550 new crystals are being introduced to the Crystal to symbolize harmony, kindness, serenity and fortitude. This will give onlookers a sense of peace when they are entering the new year.

 

4.) Somehow, the Film New Year’s Eve Was a Commercial Success

new years eve film helped with the business of new years eve

Amazon

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 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.

The movie intertwined the stories of love, hope, forgiveness and second chances to different strangers all over New York City. The film followed around different people ranging from a rock star to a nurse all the way to a dying patient in the hospital. The movie can be relatable if you always have a crazy or romantic New Year’s Eve. It made audiences feel a mix of emotions. If you are looking for a feel-good movie this New Year’s Eve, watch this with your loved ones. It may make you appreciate them more.

 

3.) A New Year’s Eve Party at Las Vegas’s Bellagio Can Cost $10,000 Per Person

las vegas bellagio is an expensive place to go for new years

If money is no object, then why not sign up for one of the most extravagant New Year’s Eve celebrations in America? Head over to the famed Bellagio Hotel and Casino in Las Vegas! Each year, the Bellagio hosts a grandiose New Year’s Eve party complete with Hollywood stars, world-renowned chefs and flowing cocktails. 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.

What does the $10,000 get you? Well, it can get you table service, Grey Goose Vodka, 3 bottles of top-of-the-line champagne, hors d’oeuvres for the entire table and your choice of mixers, water and limes. You will get the experience of being treated like royalty for one night — if you can pay the price.

 

2.) Almost Half of All Champagne Sales in America Take Place in the Week Before New Year’s Eve

buying champagne is the business of new years eve

About 45% of sparkling white wine sales take place in the week between Christmas and New Year’s Eve. It’s one of the key business tacts for New Year’s Eve. Technically the word “Champagne” must refer to wine from the eponymous region of France. It does not refer to that four dollar bottle of Andre now sitting in the fridge. Experts estimate that more than a quarter of annual Champagne sales take place in this one week window.

Most people in the world do not drink champagne for fun. Why? Well, the sparkly drink initiates celebrations each year across the world. When people are drinking champagne, they are usually celebrating the beginning of the new periods or romance. Champagne is also seen as a luxury, expensive drink, so it is only consumed during special occasions. According to experts, 360 million glasses of champagne are consumed across the United States every year. Most of these glasses are used to celebrate the midnight toast.

Looking to drink something other than champagne? See the top five cocktail recipes for New Year’s Eve.

 

1.) New Year’s Eve Is Not the Biggest Day for Alcohol Sales

alcohol sales are not that high on new years eve

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, industry experts say that New Year’s Eve is ranked only fifth in terms of alcohol retail volume.

Find out what your state laws are for buying and consuming alcohol. Some state laws are more strict than others, making alcohol harder to find. You might want to pick up your favorite bottles of alcohol the night before New Year’s Eve or in the weeks leading up to the holiday because liquors stores could sell out.

Hungover after New Year’s Eve? Here are the top five tips for curing a New Year’s Day hangover.

New Year’s Eve is a time to let go of the old year and welcome the new year with open arms. Some people need to work on this holiday, while others get to enjoy it being surrounded by their family and friends. Tell us what your favorite New Year’s Eve tradition is!

Top 5 Tips for Curing Your New Year's Day Hangover Top 5 Tips for Curing Your New Year's Day Hangover