The document discusses strategies for increasing Broadway attendance rates. It analyzes data showing higher ticket prices correspond to higher attendance percentages. To address lower attendance for some shows, the document proposes improving student rush policies and group rates by offering discounted tickets more frequently and ensuring groups can sit together. These changes aim to make Broadway more accessible and affordable to increase attendance capacity across theaters.
2. No Biz Like Showbiz
Although we may look at the professional performing arts
world as a glamorous entity of culture, it’s easy to forget that
it is indeed a business. Yes, one of those businesses that deals
with finance, human resources, and technological advances
just like any other field. One of the biggest problems facing
the business of Broadway today is filling the theatres; ticket
prices for some shows have gotten so high that the average
Joe just can’t afford them at the moment. On the flip side,
some of those shows cost quite a lot of money to stage eight
times a week, and it is those big-budget investments that
tend to characterize the popular productions that draw the
most people to begin with.
3. Identify the Problem
How can we bring more
people, both New Yorkers
and tourists, into the
theatres? And is there any
way to make Broadway
tickets more affordable?
5. Analyze
Most of the Broadway theatres during the week of October 7-13th
performed to an audience that filled at least 50% of the seats. Ideally
however, given the amount of people in Manhattan at a given time,
the percentage for all the theatres should be closer to full seating
capacity. Closer analysis of the data reveals something interesting;
the shows with the higher ticket prices tended to have more of their
seats filled. This confirms my earlier hypothesis that the more costly
shows are the hotter commodities for theatergoers, but it still
doesn’t explain why this is so. A potential explanation from a tourist
point of view: that the big-budgeters are more well-known, and
assuming they’re spending so much on a New York trip anyway,
they figure they may as well go all-out in picking a show with that
kind of reputation.
6. Alternatives
We could re-budget and devote a larger percentage of funds
to publicizing the shows that could use bigger crowds.
We could also have more special offers, such as group rates
and student rush policies, to lower ticket prices.
Still a third option would be to create more family-friendly
low-budgeters in order to get parents and kids into the
theatre without our spending a lot of money on production.
7. Best Alternative and Implementing
Therefore, I think the best of these alternatives is to improve the group
rate and student rush policies. As a hotshot Broadway player, I
would implement a student rush at least once a month, perhaps
twice during months that have big vacation dates such as spring
break or Memorial Day weekend. All students would have to do is
come to the box office or call the ticket vendor and then provide a
student I.D. when claiming their tickets. They could do it for
themselves and one friend who may or may not be a student. As for
group rates, they need to be offered for both nosebleed and good
seats, and the ticket blocks for group discounts must be in the same
rows of the theatre. I say this because I once heard a complaint that
someone’s group rate tickets were scattered all over, preventing
members of the group from sitting together. In any case, before
carrying out my plans, I would meet with my advisors to get their
perspective.
8. Unbiased Feedback and Q&A
Finally, my way of getting unbiased feedback would be to
keep track of ticket sales etc. and see if there is a large
change from before we changed some of the ticket
procedures. We’d also have to take note of how full the
seating capacity is in the theatres. If there is no change, we
must brainstorm more plans of action. Whatever happens,
showbiz is our biz, and we’re willing to go the extra mile to
share our love of the art with as many folks as possible.
Any questions?
