What a Difference a Year Makes
6/29/17
You may have heard the fact that Audience Rewards members pay, on average, 21% more per Broadway ticket than non-members. Why? The simple answer is that more expensive tickets earn more points in the loyalty game.
But let’s take it a step further: what does the Audience Rewards price yield mean in terms of real dollars—not just per ticket, but for all of those higher priced tickets over the course of a year?
To find out, Audience Rewards dug into 12 months of data across all participating shows. For a Broadway production that’s open for a full year, the average increased revenue received due to AR members’ higher ticket prices came out to $507,995 per show. Over half a million dollars of extra cash comes into each show’s box office annually, paid by Audience Rewards members who choose to spend more than other customers.
How did Audience Rewards calculate that half mil? By comparing the average ticket prices paid by members with the overall average ticket prices reported by the Broadway League. During the 12-month period, AR members paid, on average, $22.25 more per ticket for shows that were open for that full year. That adds up to a total of over $6.6 million in increased total revenue for these 13 shows, or half-a-million-bucks each.
Similar benefits ring true for shows with shorter runs, too. For limited run productions, AR members pay on average $33.07 more per ticket, which adds up to the tune of $270,701 per show in increased revenue. Not bad for 16 weeks!
The easy take-away? Reward your best customers, and they’ll reward you back.
Learn more about Audience Rewards at www.AudienceRewards.com.
But let’s take it a step further: what does the Audience Rewards price yield mean in terms of real dollars—not just per ticket, but for all of those higher priced tickets over the course of a year?
To find out, Audience Rewards dug into 12 months of data across all participating shows. For a Broadway production that’s open for a full year, the average increased revenue received due to AR members’ higher ticket prices came out to $507,995 per show. Over half a million dollars of extra cash comes into each show’s box office annually, paid by Audience Rewards members who choose to spend more than other customers.
How did Audience Rewards calculate that half mil? By comparing the average ticket prices paid by members with the overall average ticket prices reported by the Broadway League. During the 12-month period, AR members paid, on average, $22.25 more per ticket for shows that were open for that full year. That adds up to a total of over $6.6 million in increased total revenue for these 13 shows, or half-a-million-bucks each.
Similar benefits ring true for shows with shorter runs, too. For limited run productions, AR members pay on average $33.07 more per ticket, which adds up to the tune of $270,701 per show in increased revenue. Not bad for 16 weeks!
The easy take-away? Reward your best customers, and they’ll reward you back.
Learn more about Audience Rewards at www.AudienceRewards.com.
Originally published in Broadway Briefing.