Pricing

Individualized Dynamic Pricing Could Boost Attendance and Revenue

In summary, the Children's Museum of Tacoma moved to a "Pay As You Will" model a few years ago and saw BOTH attendance and revenue go up. Attendance has tripled, but, if you do the math, revenue has increased by only 50%. "Only."That's interesting enough, but let's look at it differently. In a way, it's dynamic pricing taken to the individual level. Dynamic pricing is an attempt to change a price to reflect the level of supply and demand...

Read More

News

Will a Takedown of Sites That Post Song Lyrics Work?

This seems quaint to me for some reason. A takedown of sites that publish plain text, in the form of song lyrics, probably happened first when I was helping provide you with your free 2MB homepage at GeoCities back in the '90s. But well-known musician David Lowery (of Cracker and Camper Van Beethoven) has helped the NMPA by developing a list of sites that post lyrics without any kind of compensation to the songwriters of those lyrics.After 15 years...

Read More

Bright Ideas

Unproductive Assumptions Can Linger, and We Don’t Even Know It

Take five minutes, and watch this short video below about an Arkansas high school football coach who has thrown out assumptions that nearly every football coach makes.For the non-football inclined, here’s the basic story. A football team has four chances (called “downs”) to go 10 yards forward. If they succeed, they get four more chances to keep going, with the goal of going all the way down the field and scoring a touchdown.Most of the time (virtually all of...

Read More

Half-Bakery

Data or Gut? They Go Hand in Hand

So, data or "gut"?Really, it's a phony baloney question. I'll have both, please. Gut alone is basically just you being a witch doctor, which is fine as long as you're right. (Don't mess up.)Data alone is OK, but I think in arts and entertainment, you'll hit a wall pretty quickly. Data is backward-looking by definition. Steve Jobs didn't come up with the idea for the iPhone by reading the results of an A/B test, but a lot of the...

Read More

P&L

Orchestras, First Step to Financial Health is Happy Audiences

Don't expect the drumbeat of financial trouble for orchestras to stop.Here are a couple quotes that I think are helpful in thinking about the long-term resolution of this. First, from the Chairman of the orchestra's board, "Despite the Brooklyn Philharmonic's tremendous artistic successes over the last couple of years, the orchestra continues to experience financial difficulties."If an organization's definition of artistic success diverges too much from the definition of its audience or the potential audience that it needs, those...

Read More

377 of 391« First...376377378379...Last »

Sign Up for Emails

VIEW PAST ARTICLES