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Pricing

Top Broadway Shows by Revenue Per Seat — Week of January 5

Here are the top Broadway shows last week, ranked by Revenue Per Seat – the one and only metric marketers should use to determine the success of their efforts. Why? Average Ticket Price doesn’t tell the whole story when empty seats are NOT factored into the equation. To determine RPS, we divided the grosses by venue capacities. Highlighting RPS demonstrates a different and more interesting story about which shows can bring in value per seat versus simply being big, because...

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Pricing

Top Broadway Shows by Revenue Per Seat — Week of September 29

Here are the top Broadway shows last week, ranked by Revenue Per Seat – the one and only metric marketers should use to determine the success of their efforts. Why? Average Ticket Price doesn’t tell the whole story when empty seats are NOT factored into the equation. To determine RPS, we divided the grosses by venue capacities. Highlighting RPS demonstrates a different and more interesting story about which shows can bring in value per seat versus simply being big, because...

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Marketing

#MondayMotivation: Are You Seeing the Whole Picture?

Looking for a little #MondayMotivation? We’re pulling out past stories that are still just as relevant today. Here’s a pearl from Jim: Is Your Marketing Working? How to Know for Sure. Event marketing isn’t easy. You have to make a lot of decisions about what you’re going to do to get people showing up and paying to see your event. Some of the things you’ll try (Google AdWords, for example) will come complete with excellent data about exactly what happened in your campaign....

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Pricing

The Top Broadway Shows, As Sorted By Revenue Per Seat — Week Ending Jan. 6

Here are the top Broadway shows last week, ranked by Revenue Per Seat – the one and only metric marketers should use to determine the success of their efforts. Why? Average Ticket Price doesn’t tell the whole story when empty seats are NOT factored into the equation. To determine RPS, we divided the grosses by venue capacities. Highlighting RPS demonstrates a different and more interesting story about which shows can bring in value per seat versus simply being big, because...

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#TBT

#TBT: Let’s Get Marginal

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: Let’s Get Marginal There’s a very common analytical error that producers of live entertainment make. It’s the kind of mistake that comes straight from human nature, and so in a way, it’s hard to blame theatre producers specifically for making it. Most of them never claimed to be quant jocks.  In fact, many of them actively protest that numbers give them the heebie jeebies. Fair enough, but the consequences of this mistake are...

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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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#TBT

#TBT: Revenue Per Seat — A Refresher

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: Revenue Per Seat -- A Refresher. Revenue per seat is a metric that everyone in live entertainment should use, but most don’t. It measures not what your average price per ticket is, but what your average revenue per seat is (thus, the name). Let me demonstrate the difference: If you have a 100-seat venue and you sell 80 seats for $50, your “average price per ticket” (as calculated on Broadway by...

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#TBT

#TBT: Things Most Organizations Simply Won’t Do

Happy #TBT. To celebrate, we’re sharing an oldie-but-goodie post from Jim: Things Most Organizations Simply Won’t Do. They’re not hard. They’re not complex. They don’t require a bunch of money. But you won’t do ‘em. Things that your organization is “too busy” to do, like interact with new patrons from places like, for example, Goldstar to increase the odds that they come back. Like tracking the Revenue Per Seat metric to determine how effective specific marketing campaigns are. Or even just having a...

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Pricing

How to Take the Emotion Out of Discounting

Jim Lewi is the president of LiveWorks Events, host of the Aspen Live Conference and a consultant at Goldstar, to name just a few of his titles. Recently, he covered discount channels in the article below in his company's newsletter. It's a nice refresher on the importance of RPS. You can read more from Lewi at the LiveWorks newsletter. “Our job is to take the emotion out of discounting” is a line I use when talking with industry peeps about...

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Pricing

Current Top 10 Concerts, as Sorted by Revenue Per Seat

Here are the top concerts and touring shows on Billboard Boxscore that we've ranked by Revenue Per Seat -- as opposed to Gross. To determine RPS, we divided the grosses by venue capacities. Highlighting RPS demonstrates a different and more interesting story about which shows can bring in value per seat versus simply being big, because calculating average ticket price does not account for empty seats. Revenue Per Seat reflects the efficiency of a show’s marketing and the strength of...

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