GUEST BLOG: TKTS, Street Teams, and the $100 Million Market No One Knows About
Broadway continues to do big business and is only trending up, but there’s a segment of ticket sales that has largely been ignored. Pre-sales are guaranteed money in the bank (music to any Producer’s ear), but what if I told you there was another segment of the market that rakes in over $100 million annually for producers? I’m talking about same-day ticket sales at TKTS.
Run by the not-for-profit Theatre Development Fund, TKTS provides discounted same-day Broadway and off-Broadway tickets. It’s an iconic and vital part of the industry and is built into many theatre producer business models.
The most popular booth is in Times Square on 47th/7th Avenue, with satellite booths at Lincoln Center and South Street Seaport. Accounting for 12% of all tickets sold (Broadway League Demographics 2016-2017), this equates to over 1.4 million tickets and $104 million returned to the shows. That’s a lot of tickets.
And yet, promotion at these booths often comes as an afterthought. There is a captive market of up to 30,000 theatre-goers every week waiting to buy tickets, many of whom haven’t decided which show they want to see. A proper street team is a pivotal tool in getting these people into your show.
Broadway Crew is on the front lines, serving as the face of your brand and engaging with your customers one on one on a daily basis. People come to New York wanting to see the best live theatre in the world and TDF has done an amazing job in making TKTS the most visible source in the city for quality, discounted tickets. But a lot of the time these patrons have no idea what is playing, how everything works, or even what to see.
So what makes a good team? It’s so much more than just handing out flyers. It’s creating the proper soft-selling environment, determining customer needs, and recommending based on their pain and pleasure points. Not everyone is going to want to see every show, but the proper team can customize the pitch to the individual and find the parts of your show that appeal to them.
We founded Broadway Crew in an effort to elevate the street team and the same day ticket-buying experience. No one wants to be hard sold into something. They want to work together with a team member who helps them find their own way. The theatre-going experience begins the moment you decide to see a show and continues to the final bows. At Broadway Crew, we aim to make the decision-making process an enjoyable one, and we work hard to accomplish this every day.
In short, money spent on street teams is a tiny, but vital slice of your marketing budget pie. We’ve seen our clients returning 100x their investment in ticket sales. It’s a no-brainer, right?
Sam and Jackson founded Broadway Crew in an effort to elevate the same-day ticket buying experience by making street teams into effective sales teams and prioritizing customer service and employee happiness. We want to do things the right way by making sure our employees are happy and our clients and their customers are happy. By focusing on people, everybody wins. Let us know how we’re doing! Drop us a line at www.BroadwayCrew.com or find us on Instagram @BroadwayCrew and on Twitter @BwayCrew.