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Bright Ideas

How One Theater Is Doing More With Less

How do you increase the quality of your shows, improve community outreach and (hopefully) improve revenue while also cutting costs? If you're Lorne Campbell, Artistic Director for Northern Stage, you get very strategic. The Guardian recently ran a column from Lorne where he described their efforts and whether or not they're paying off. A bit of his strategy:"I became artistic director of Northern Stage in May 2013," Cambell said. "In this first year, the company and I have been...

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News

Broadway’s Making Bank

The 2013-2014 Broadway season has just ended and the numbers are looking great. Broadway.com is reporting that shows grossed $1.27 billion during the period and total attendances reached 12.21 million. The reason for the more than 11 percent increase in grosses? A combination of more running weeks (the previous season was impacted by Hurricane Sandy), big shows like Aladdin and Les Miserables and big stars like Daniel Craig, Neil Patrick Harris and Denzel Washington.For the rest of the good...

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Pricing

Sometimes People Prefer to Pay More

Terence McFarland, his team, and volunteers did a great job with LA Stage Day on Saturday.I had a group of eight or 10 very enthusiastic listeners for my discussion of pricing. It was late in the day and there was math involved, so given that, the energy was great. I talked about Revenue Per Seat and the potential dangers in managing by Average Ticket Price. We also had time to open the discussion up to any and all questions...

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Bright Ideas

Variable Versus Dynamic Pricing

Do you have one of those friends who can’t resist correcting people on the proper use of “who” versus “whom”?  Perhaps you don’t because you are that person. Regardless, you’re all welcome here.Personally, I let the who/whom thing go because I’ve never misunderstood anything said to me because of it.Other frequently mistaken words though aren’t as harmless. They have the potential to get you all mixed up, crazy, and worse still, losing out on money from ticket sales.So we’re...

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Bright Ideas

Is Live Entertainment a Competitive Field?

There’s something sinister about the question “Who’s your competition?”On the one hand, it’s simple enough. If you’re the RED cola maker, then the BLUE cola maker is your enemy. Metaphorically, if the RED cola ship wandered into the same water as the BLUE cola ship, they’d go at each other with cannon and gun 'til somebody won.So who’s your competition? Who would you shake your fist at angrily and say “Bastards!”?And furthermore, given the Convenience Gap faced by all...

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ICYMI

In Case You Missed It

Each week we're sharing a few stories we found interesting and worth a read. And now, in case you missed them ...Goldstar CEO Jim McCarthy illustrates how live entertainment is on the wrong side of the convenience gap -- and how that doesn't have to be a bad thing.Over on Top Rank Blog, Lee Odden got some of the top marketing professionals around to share their marketing predictions for 2015.We had a chat with the incredibly talented and successful...

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Pricing

How Much Does it Cost to “Make” a Ticket?

Let’s start answering that question by asking a different one.How much does it cost to make a sandwich?Let’s say that you buy bread, condiments, meat and cheese for about $2 and each time you turn on your sandwich press, it costs you $.50. Ignoring labor costs for a moment, it costs you $2.50 to make a sandwich. If you sell it for $6, you’ll probably end up with a profit after you pay for everything else a business needs...

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Pricing

The Fastest Path to Devaluing Your Tickets

It’s simple, really. Build a good email list for your venue/show/organization and send them discounts to your own show.If you want to Turbo-devalue your tickets, always follow the same or a similar cadence in how you do this. I know of a major organization (that I’m not even going to name or say the genre but trust me when I say that everyone who will ever possibly read this is familiar with them) that at one point had a...

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Pricing

Overvaluing Premium Sales

Venues have gotten much more sophisticated in the last seven or eight years at creating and selling “premium” tickets and ticket packages. I was reading recently about the Seattle Mariners’ successful program to do this recently, and it made me give this issue some thought.As I’ve said many times on this issue, I’m for it. Provided you don’t punish people for not buying premium and you legitimately deliver a ‘premium’ value, this should be a sustainable and positive way...

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Pricing

The Easiest Mistake in the World to Make About Pricing …

… is thinking there is such a thing as a “discount buyer.”And I can prove it to you.Next time you’re gathering six or eight of your co-workers for a meeting and have a few minutes before it gets started, do this little experiment.Ask the group if any of them have a band or musical act that they really, really like but that most people in the room aren’t likely to know. Most people will have one.Pick one of these...

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