Archives

Pricing

Price Has Nothing to Do With Costs

When I talk about this, people look at me puzzled. A couple years ago, Michael Kaiser, smart guy and Big Chief of the Kennedy Center, wrote an article on Huffington Post that gives me a starting point for what I want you to understand about prices:“The central challenge facing arts managers is to fill the ever-widening gap between rapidly increasing expenses and earned income, primarily from ticket sales. This gap continues to grow each year since the number of seats...

Read More

Pricing

Tonight’s Game Perhaps the Most Expensive Baseball Game Ever

Tonight, the Boston Red Sox play the St. Louis Cardinals at Boston’s Fenway Park, and some of the people I trust to evaluate the true value of the tickets in the secondary market are suggesting that it’s getting pretty crazy. Jeff Passan at Yahoo brings it together here.Here’s the key tidbit:“By early afternoon, the average resale price for tickets sold stood at $1,024 per ticket, according to SeatGeek. Remaining ticket inventory on Internet sites was even heftier: an average...

Read More

Pricing

How Not to Discount: Part II

Don't discount at the last minute only.This one’s pretty simple. The second bad way to discount is to wait until the last minute, and then do it in a panic.Why is this a bad idea? First, you’ve narrowed your options considerably. When venues come to us the day or two before a show and say they’d like to discount, we typically can’t help them, and we’re fast! But the fact is that we, like every big website, have a...

Read More

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...

Read More

Marketing

No One Knows and No One Cares

Here’s a joke for you: What’s the difference between ignorance and apathy?I don’t know, and I don’t care.No, really, that’s the answer. Seth Godin once said that booksellers shouldn’t be worried about piracy robbing them of riches, but instead wishing people cared enough about their products to try to pirate them.That reminded me of something I say to entrepreneurs and would-be entrepreneurs all the time: If you work from the assumption that no one knows or cares about your product or...

Read More

Pricing

Consider Pricing Simplicity to Avoid Lost Sales

Live Nation wins a lawsuit that was, frankly, a little nutty to begin with. The plaintiff’s claim is that, as a monopolist, Live Nation charged service fees that caused him damages and, therefore, LN should be forced to have an ‘all-in’ pricing model. The judge said, rightly, that the claim of a monopoly was irrelevant, and that whether the fees are added or part of the ‘all-in’ price, the plaintiff would be paying the same and, therefore, there were...

Read More

Pricing

Louis C.K. & Kid Rock: Are they “generous” to their fans?

Both Louis C.K. and Kid Rock have gotten attention in the last year for charging much less than market value for tickets to their shows. In Kid Rock’s case, tickets are just $20 for this summer’s tour, and in both cases, shows sold out extremely quickly as a result of the pricing, and, I would add, the massive publicity about the pricing.So, are they being “generous” to their fans with these low prices, as some feel, or do they,...

Read More

Experience

“Natasha” Drops Meals After Surveying Audiences

I saw this show when it included dinner and was in the Meatpacking District.  Now that it’s moving to Midtown and dropping dinner, it’s less of an immersive experience, but I still think you should go if you can. Here’s the part I thought was most interesting about the article:“Our audience surveys and phone surveys showed that people didn’t really value the meals, and at each ticket price level, people said they would’ve still bought tickets without the meals,”...

Read More

32 of 32« First...29303132