Inclusivity - seat pricing v solvency.

Inclusivity - seat pricing v solvency.

chris wadsworth, 9 August 2012

Participants: chris,godfrey jane julian stefan jo wadvern michelle patric
Tickets are now about £30.
friends and season ticket purchasers get a really good discounted deal. There is a price problem - this is denied but true. There are cheap tickets for preview night and these are always well taken up. Big audience makes good atmosphere.
This year the top end have sold very well. It is cheaper seats that have not been filled. Theory is that those who can afford top end are not affected. Families, tourists, young, low earners, unemployed find it difficult and theatre is low priority.
How do we address this?
1 person thought theatre is greedy
is it better to have a full theatre at £20 or 1/2 full @ £30?
What is theatre already doing to address the problem?
under 26s 35 fridays (2 in group knew about this)
discount 1st Saturday £10 seats
tried BOGOF
offers sent to 50 groups in W Cumbria

How do any of us book other venues?
1 Stand bys @ National etc
2 Last minute.com
Why don't we try stand byes here without hazarding income from regulars?

With footfall past theatre could put a stand by seats available flash across poster from 2pm.
Who sets the prices?
At this point Patric appeared on the perimeter and was quickly drawn in . His pricing is research based and is endorsed by trustees. The art is pushing it as high as possible while retaining clients

need 2 million ticket sales to break even so even a small drop or reduction affects Fragile economy and uneasy balance.
Decision is made at start of season and can't be changed after that.
Some elasticity is allowed though.

The management and trustees feel this is the best way.They are uneasy about stand byes.
With their experience they probably know best.
They know their audience. They understand the market.

But they are dealing with a recession and are up against it.