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Experience

Sold Out? How to Reach More People

Jim has written about the benefits of streaming a live event, and we've highlighted NT Live, the broadcasting arm of the National Theatre. Here's some news from CNN Business about how virtual reality is changing the live music experience. Nathan Sing reports: "In the last few years, musicians have been able to stream concerts to virtual reality headsets ... " Sing writes, "As well as being able to watch from a position in the audience, users can view the concerts as if...

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Marketing

When Lil Wayne Sets Supply and Demand

When Lil Wayne recently announced his I Ain’t Sh*t Without You Tour, he left out a few details -- including where the shows would take place, reported TicketNews. Lil Wayne left this decision up to his fans. Instead of choosing what cities to visit, Lil Wayne planned to let his fans vote for their city, and he would perform in the four cities with the most votes. When the votes came in this week, Houston, Atlanta, Washington, D.C. and Chicago scored the...

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News

News & Noteworthy (Week of August 23)

A lot goes on in our world each week — some news you may catch, and some may slip by your radar. Below are a few articles that caught our attention, and we didn’t want you to miss ’em! A Proven Investment in Company Success: Uber and the NFL hired one. Demand is on the rise for diversity officers, according to Julia Carpenter for CNN Money. Carpenter writes, "According to data from Indeed, demand for the roles has increased significantly...

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#TBT

#TBT: Funny How Supply and Demand Have Nothing to Do With It

Happy #TBT! Here’s an oldie-but-goodie post from Jim: Funny How Supply and Demand Have Nothing to Do With It. [This article was originally published in 2009.] I recently read an article that, though I hesitate to be unkind, is incredibly shallow. Here’s a key tidbit: “Who is responsible for the high prices consumers have to pay to see their favorite artists? Three culprits jump to mind.” The author then goes on to list them. You might want to sit down for this so...

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#TBT

#TBT: Cost Doesn’t Have Anything to Do With Price

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: The Wisdom of the Soda Seller. Suppose I have a really simple business: I sell sodas on the beach from a little booth. (Actually, some days, that would sound kind of appealing.) My two expenses are the rent that I pay for the booth and the cost of the soda, which I pay to a wholesaler. And let’s say I pay the wholesaler $.50 per soda and sell it to you...

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Marketing

When Giving It Away for Free Is a Good Idea

Echoing Jim's thoughts in You Can’t Kill Demand for a Product by Giving It to More People, Edward Einhorn has created two new websites, one for each of his two translations/adaptations of Greek plays, Lysistrata and Iphigenia in Aulis, which he writes about on HowlRound. Einhorn states: " ... my main goal is to inspire productions. In essence, I am saying the artistic satisfaction of having one’s work read and produced is much greater than having it lay hidden. And,...

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#TBT

#TBT: The Herd Needs Thinning? You Go First (Cont’d)

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: Thinning the Herd? You Go First (Cont'd). The “arts” are oversupplied. We’ve heard this before. There are, according to this thesis, too many organizations and the resources to support them are, therefore, spread too thin. Kill off the bad ones (we’ll worry about what we mean by bad in a minute), and then everyone will have plenty of money and the “arts” will be robust, and full of enterprising,...

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#TBT

#TBT: Closing the Barn Door Before the Horses Leave

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post: Closing the Barn Door Before the Horses Leave. The following post is by Kara Larson who, along with Barry Kahn, is one of the people I consider to be the smartest and most experienced in thinking about dynamic pricing. Different from Barry, Kara’s experience with dynamic pricing is as a marketer for various performing arts venues, including Carolina Performing Arts (University of North Carolina). So, with no further delay, take it...

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Marketing

Is Theater Oversupplied or Underdemanded?

For this series, we've reached into the vault to share a few pieces that are still relevant today. I once had an interesting discussion with @aaronmandersen on Twitter about supply and demand in the world of theater. His contention, if I’m stating it correctly, is that the market for theater is in equilibrium. Yet many taking part in the discussion felt that surely theater was either oversupplied or underdemanded. I told him I’d think about the topic, and so I...

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Pricing

What Happens When Prices Plummet?

Prince is on a tear. He’s dropped his lawsuit against about 20 of his fans who he accused of selling bootlegged recordings, and now he’s talking about doing shows for $10 a ticket. He’s still a major draw, though it would appear his hit-making days are behind him. He’s richer than astronauts and first-name famous. Not only that, but he’s got artistic and popular cred in abundance. That means Prince does whatever he does because he feels like it, because it meets...

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