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#MondayMotivation

#MondayMotivation: Start From a Baseline of Zero

Looking for a little #MondayMotivation? We’re pulling out past stories that are still just as relevant today. Here’s a pearl from Jim: Go Big or Go Home? Fixing a Broken Business Model. When people inside an organization either can’t or won’t confront the reality of their business model, bad things tend to happen. Symphonies and orchestras are having an increasingly hard time balancing their P&Ls. Here are two unfortunate but typical recent stories detailing these challengs, about the Green Bay Symphony Orchestra and the Delaware Symphony Orchestra. It’s...

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#MondayMotivation

#MondayMotivation: Live Is the Revenue Workhorse

Looking for a little #MondayMotivation? We’re pulling out past stories that are still just as relevant today. Here’s a pearl from Jim: Live Rules! (But Don't Get Cocky). I used to have to convince people that live performance was the leading category in the entertainment business, but I hardly have to do that anymore. This is especially true in music, where it doesn’t take an expert to see that sales of recordings are sad and not due to rebound to past levels … well,...

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Experience

LEGO Model of Vatican Welcomes Pope to Philly

Many people have been looking forward to the Pope's upcoming visit to Philly, especially Rev. Bob Simon from St. Catherine of Siena Church in Moscow, Penn., who spent about 10 months and used over half a million LEGO pieces to re-create a detailed LEGO replica of the Vatican. Simon's creation is on display now at The Franklin Institute, a Goldstar partner. Read more about the replica here, and see it for yourself -- if you're in Philly -- through mid-February as...

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#TBT

#TBT: The Third Ticket

I asked the Selling Out team to put out a second Throwback Thursday article today because I want to help you think about something that I know is tripping people up. I hear live entertainment marketers talk about ‘hitting goal’ for a show and then turning their attention elsewhere. This is understandable, but the wrong way to think about it. I once said that “the last $100k you sell is just as valuable as the first $100k you sell,"...

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Pricing

The Third Ticket

Live entertainment and arts have a screwy business model. Almost all the costs are locked in. The minute you decide to do the event, you’re committed to most of the costs, even if the show or event bombs. Bummer. The good news, though, is that once you get past break-even, the business model starts to get really good really fast. For most events, break-even is somewhere in the 60 to 70% sold range. Generally speaking, if you sell two out...

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Marketing

Want to Impress Me? Predict the Future, Not the Past

Niels Bohr was quoted in 1970 as saying, “Prediction is very difficult, especially about the future.” So it is, but, of course, only predictions about the future have any value. I appreciate the effort that goes into developing an algorithm to predict the success of something like a Broadway show, but this attempt shouldn’t be the basis for changing your marketing plans. Why not? If you’re looking back at results, you can always make a model that appears to have predicted reality. Start...

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P&L

Go Big or Go Home? Fixing a Broken Business Model

When people inside an organization either can’t or won’t confront the reality of their business model, bad things tend to happen. Symphonies and orchestras are having an increasingly hard time balancing their P&Ls. Here are two unfortunate but typical recent stories detailing these challengs, about the Green Bay Symphony Orchestra and the Delaware Symphony Orchestra. It’s because people don’t care about those genres anymore, while costs just keep going up, right? And with little to no government involvement and a donor base...

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Bright Ideas

Make People Want to Talk About What You’re Doing

I agree with Lyn Gardner that Theatre Criticism is not in crisis. A headlong, destination-uncertain transition perhaps, but not crisis. How does this relate to selling out a venue? It’s great to have people commenting on what you do in as large a forum as possible. One major structural advantage for sports event marketers, for example, is that there are entire TV networks (ESPN being the leading one) who must talk about their product 24 hours a day on multiple venues....

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