Following up on last Monday’s Placebo Pricing article, the ever sharp Lisa Hirsch from Iron Tongue of Midnight started doing some digging around in her neck of the woods on ticket price issues and turned up some very intriguing results. In a post titled Pricing and Audience Resentment she provides a few apt observations on timing and steep price cuts.
Paying The Ticket Price Piper
There were two items of note this week related to ticket pricing strategies. First up is The Metropolitan Opera (The Met), which released data detailing large losses in the wake of dynamic pricing initiatives that ushered in a wave of price increases. Although The Met reversed the decision during Q1 2013, the damage was done and when the fiscal year was complete, they reported average attendance fell to 79 percent capacity, …