The best way to tell what will work for your show is to ask what has worked for similar shows in the past.
Pricing is the most powerful tool towards increasing profits, but research suggests that most managers spend less than 10% of their resources on price. At Standing Room, we pair our team of expert consultants with cutting-edge, proprietary modeling to ensure there’s not a dollar left on the table.
Economic studies consistently demonstrate that a 1% improvement in price can increase operating profits by up to 3x as much as a 1% improvement in volume and up to 4x as much as a 1% decrease in costs.
Despite these findings, theater professionals consistently invest far more in advertising (to increase volume) and budgeting (to decrease costs) than they do in optimizing their pricing strategy.