New Orchestra Business Model
This is one of my favorite arts business articles. Bruce Coppock, president and managing director of the Saint Paul Chamber Orchestra, lays out a convincing new model for business in the orchestra world. He dismisses the standard three-legged stool model and instead looks for new opportunities.
Coppock says, "If we think of ourselves as being in the concert production business, and think of ticket revenue as core revenue, we limit potential revenue. However, if we think of ourselves as being in the patron development business and think of producing concerts as our mission, new horizons appear."
Under this new model, the Saint Paul Chamber Orchestra slashed ticket prices in half, increased their subscriber base by 35%, and increased patron revenue by $500,000.
http://www.americanorchestras.org/images/stories/symphony_magazine/jan_feb08/Currents.pdf
--Evan
Coppock says, "If we think of ourselves as being in the concert production business, and think of ticket revenue as core revenue, we limit potential revenue. However, if we think of ourselves as being in the patron development business and think of producing concerts as our mission, new horizons appear."
Under this new model, the Saint Paul Chamber Orchestra slashed ticket prices in half, increased their subscriber base by 35%, and increased patron revenue by $500,000.
http://www.americanorchestras.org/images/stories/symphony_magazine/jan_feb08/Currents.pdf
--Evan
posted by Chester Lee at
11:27 AM
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