This could be one of my favorite “Market Notes” yet.
Market Notes is a report that the Shubert Organization, which sits on top of a mountain of Telecharge data, spits out every month or so, to enlighten us on some our audience’s buying habits. The reports are written by Mr. Brian Mahoney, who I referred to as the “Swami of Statistics” in 2008, during my first year of blogging. (Read that entry here)
This month, Monsieur Swami, is pulling the curtain back on those folks out there that buy our premium tickets. These guys and gals are the equivalent of our “high rollers.” They want the best, and they want it now. And they are willing to pay for it. (As I like to say, there is always someone that likes to fly first class.)
But who the heck are they?
Here’s a word-by-word report of what the Swami said:
So we do have high rollers, alright . . . but they are specific to one show. I call this the “Mormon” effect. They gotta see one show, and they can’t get tickets any other way. So maybe my theory of just wanting the best isn’t quite right. Maybe they are forced into premium tickets because it’s the only thing available.
That question, and the questions posed in the repot about how much to mark-up a premium ticket are exceptionally important to the future health of our business . . . because as discounting initiatives increase, if done right, successful premium pricing could become a way to offset the amount of discounting that a show needs to do.
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