A few weeks ago, the Associated Press published an article by David Sharp about the notion of using demand based pricing throughout the performing arts community. If you aren’t already familiar with demand based pricing as applied to orchestras, it is a method where a higher price is charged for seats within a given pricing section. By and large, this is a terrible idea for the orchestra business in general at this point in time, however, before going down that road let’s examine some instances where demand based pricing makes sense…
Ticket Prices
Baby, It’s Cold Outside
I’m back from Seattle and right as I was heading in the door, several inches of snow and ice began pummeling the Chicago area. But that’s not the only thing cold going on as more newspapers are writing articles about chilly ticket sales. The 12/12/08 edition of the Sacramento Bee is one of the latest to chronicle local events in an article by Edward Ortiz…
How About That, Subsidized Tickets
According to a press release from the Metropolitan Opera, the organization is offering approximately 1,600 $25.00 tickets for weekend performances throughout the remainder of the 2008/09 season. The regular price for these tickets ranges $140.00 to $295.00 and the price difference is being counterbalanced through $3 million in donations from among Board’s 45 managing directors…
The One-Two Punch Of Inflated Ticket Prices
Last week I pointed readers to an article written by Mark Stryker in the 11/26/08 edition of the Detroit Free Press which examined the current state of the Detroit Symphony Orchestra finances. In that article, Mark reports that the organization is experiencing a decline in ticket sales and a recent sudden drop in financial support will only compound economic issues. At hand, is the quandary of how an organization in the midst of a sizeable, sudden budget shortfall will go about attracting increased numbers of ticket buyers with fewer marketing resources and no room to tolerate lower ticket revenue…
A Good Problem To Have
The recent article by Dan Wakin in the 8/11/08 edition of the New York Times reporting on the problems encountered by Met subscribers attempting to exchange tickets presented a fascinating problem-solving scenario: how to anticipate and react to sudden increases in ticket sales. Wakin’s article did an excellent job at setting up the issue, establishing the level of patron displeasure, and presenting a comprehensive response from Met General Manager, Peter Gelb. Subsequently, from a behavioral change management perspective, I found some of Gelb’s statements intriguing…