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Pricing

This Week’s Top 10 Broadway Shows, as Sorted by Revenue Per Seat

Here are the top 10 Broadway shows last week, ranked by Revenue Per Seat, and with grosses to the right:Revenue Per Seat reflects the efficiency of a show’s marketing and the strength of its appeal, where Gross Sales reflects the effectiveness of the show as a money-making entity. Both are important to understand. To see how this compares to last week, click here.

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Pricing

The Perils of a “Break-Even” Price

If you’re not careful about the way you evaluate the price at which you need to sell tickets in order to break even, you could be setting yourself up for some big losses.Here’s how a "break-even" price gets established a lot of the time: somebody, somewhere takes the total cost of delivering a show and divides it by the number of tickets they believe, based on experience, intuition data or whatever, they will likely sell.For example, the total costs...

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Pricing

This Week’s Top 10 Broadway Shows, as Sorted by Revenue Per Seat

Here are the top 10 Broadway shows last week, ranked by Revenue Per Seat, and with grosses to the right:Revenue Per Seat reflects the efficiency of a show’s marketing and the strength of its appeal, where Gross Sales reflects the effectiveness of the show as a money-making entity. Both are important to understand.

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Pricing

Sometimes People Prefer to Pay More

Terence McFarland, his team, and volunteers did a great job with LA Stage Day on Saturday.I had a group of eight or 10 very enthusiastic listeners for my discussion of pricing. It was late in the day and there was math involved, so given that, the energy was great. I talked about Revenue Per Seat and the potential dangers in managing by Average Ticket Price. We also had time to open the discussion up to any and all questions...

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Pricing

Even a “Free” Ticket Isn’t Free

The price of a ticket is much more than just the amount of money they give you to be allowed in the venue.I don’t just mean parking or the babysitter or the other legitimate hard costs that might come with a trip to see an event, though those are very real too.Recently, we talked about realizing that we are, as an industry, on the wrong side of the Convenience Gap compared to other forms of live entertainment, and I...

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Bright Ideas

Variable Versus Dynamic Pricing

Do you have one of those friends who can’t resist correcting people on the proper use of “who” versus “whom”?  Perhaps you don’t because you are that person. Regardless, you’re all welcome here.Personally, I let the who/whom thing go because I’ve never misunderstood anything said to me because of it.Other frequently mistaken words though aren’t as harmless. They have the potential to get you all mixed up, crazy, and worse still, losing out on money from ticket sales.So we’re...

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Pricing

How Much Does it Cost to “Make” a Ticket?

Let’s start answering that question by asking a different one.How much does it cost to make a sandwich?Let’s say that you buy bread, condiments, meat and cheese for about $2 and each time you turn on your sandwich press, it costs you $.50. Ignoring labor costs for a moment, it costs you $2.50 to make a sandwich. If you sell it for $6, you’ll probably end up with a profit after you pay for everything else a business needs...

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Pricing

The Fastest Path to Devaluing Your Tickets

It’s simple, really. Build a good email list for your venue/show/organization and send them discounts to your own show.If you want to Turbo-devalue your tickets, always follow the same or a similar cadence in how you do this. I know of a major organization (that I’m not even going to name or say the genre but trust me when I say that everyone who will ever possibly read this is familiar with them) that at one point had a...

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Pricing

Overvaluing Premium Sales

Venues have gotten much more sophisticated in the last seven or eight years at creating and selling “premium” tickets and ticket packages. I was reading recently about the Seattle Mariners’ successful program to do this recently, and it made me give this issue some thought.As I’ve said many times on this issue, I’m for it. Provided you don’t punish people for not buying premium and you legitimately deliver a ‘premium’ value, this should be a sustainable and positive way...

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Pricing

The Easiest Mistake in the World to Make About Pricing …

… is thinking there is such a thing as a “discount buyer.”And I can prove it to you.Next time you’re gathering six or eight of your co-workers for a meeting and have a few minutes before it gets started, do this little experiment.Ask the group if any of them have a band or musical act that they really, really like but that most people in the room aren’t likely to know. Most people will have one.Pick one of these...

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