November 7, 2022
These are certainly unpredictable times: with inflation soaring, COVID still around, and increased political and environmental pressures around the world. All of these factors trickle down and make it more difficult than ever for performing arts organizations to make pricing decisions. On one hand, demand is lower than pre-pandemic (our recent study shows ticket sales per performance are down 14% nationwide), which could imply that a price drop is warranted. On the other hand, inflation is soaring, which could imply that a price increase is justified. So what’s an arts organization to do?
Here are some guiding principles for pricing during this volatile time: