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The Week That Was in Live Entertainment (Week of April 13)

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! Here She Comes: American Girl, Live: The company who brought us Daniel Tiger’s Neighborhood Live! is working on a new musical production: American Girl, Live. The Mattel-owned American Girl doll line has sold more than 30 million dolls! According to Variety,...

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#TBT

#TBT: More Pie Now!

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: More Pie Now! [In 2010,] I participated in a panel at Tickets.com’s excellent Executive Summit in Long Beach. This gathering, in its second year, is one of a kind in that it brings together top executives across the live entertainment business for a brief, but powerful, conference on a wide range of issues that affect the whole industry. I was on a panel with a group of really interesting folks, and the...

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#TBT

#TBT: How Dynamic Do You Want Your Pricing?

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: How Dynamic Do You Want It? I've just returned from the [2010] Broadway Spring Road Conference in NYC, where I had been invited to join the very first panel of the conference, which was about pricing. One simple word with so much complexity. A million ways to die, as Bond or a Bond-like character might have said. But I wasn’t alone on the stage, by any means. We had a great...

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News

Jim to Give Keynote on Mobile at Ticketing Technology Forum

Jim is headed to Ireland this month to the Ticketing Technology Forum on April 27 & 28 in Dublin to deliver the keynote on "Lessons in Mobile" and also speak on a dynamic pricing panel, which explores the benefits and pitfalls of dynamic pricing to live entertainment ticketing businesses and asks whether the industry is ready for a new approach. In his keynote, Jim will be speaking about how his company went from being a laggard to a leader and...

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Pricing

Win-Win With Dynamic Pricing

In his post "Variable Versus Dynamic Pricing," Jim defined the two concepts and answered a few FAQs about each. He wrote: "Dynamic Pricing simply means prices that might change after the tickets are put on sale. Variable Pricing by contrast is not about prices changing, but about prices being different initially for different reasons. Can you do both at the same time? The answer is absolutely. Which is more important? My information from multiple sources tells me that variable pricing, including proper,...

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Pricing

TEDxBroadway 2012: Barry Kahn Talks Dynamic Pricing (Video)

The CEO and founder of Qcue, Barry Kahn knows dynamic pricing. In 2012, he brought his expertise to TEDxBroadway to deliver a talk about what he does: Qcue's software provides guidance to professional sports teams, concert promoters and venue managers to set better up-front prices, and adjust to shifting demand, changes in market conditions and real-time sales data. His company's message is simple: 50% of tickets are never sold. 10% are resold for twice face value. It's time to price...

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Pricing

Should Your Pricing Leave Money on the Table?

If your ticket prices are getting the very last dime of value from the marketplace, I believe you’ve gone too far. In the world of pure reason, in which economists and undoubtedly some of my business school economics professors live or at least vacation, the statement that I just made is irrational. There’s no reason not to charge what the market will bear, they’ll say. And you know what? They’re right! Mostly. I’ve talked about how people actually sometimes like to pay...

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Pricing

Consumers Getting Wise to Primary-Secondary Market Shenanigans

A man in New Jersey who bought some pretty expensive tickets to the Super Bowl is suing the NFL for not releasing more tickets to be sold to the general public. His claim is that, according to New Jersey law, at least five percent of tickets must be available for regular people to buy. I don’t know anything about the merits of his case, but it shows that consumers are getting savvy to the idea that the primary market sellers (in...

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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...

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Pricing

How Not To Discount: Part I

Don't discount to your full-price channel too much. At Goldstar, we believe strongly that when done well, discounting (not just through Goldstar) is highly beneficial for venues. I’m going to talk about several ways you should not discount and why. Here’s the first way you shouldn’t discount, and it’s a doozy. When you make your full-price buyers the primary target of your discount promotions, you’re making a big mistake. I’m not saying you should never put a discount out to your...

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