From the Chicago Artist Resource website:

A recent article in Time Out Chicago reported on the new monthly membership at Theatre Wit, which provides unlimited admissions to the three-stage venue for a low monthly fee of 36 dollars. With this flat rate monthly fee, Theatre Wit is (to their knowledge) one of only three theaters in the US seeking to reinvent the traditional theater subscription with a Netflix model of theater patronage.

But there is a second prong to Theatre Wit’s pricing strategy. They recently introduced dynamic pricing for their single ticket sales, meaning that they reward patrons who are willing to book their tickets in advance, while raising prices incrementally according to the demand for any given performance. In recent years, dynamic pricing has become an increasingly common practice at large performing arts organizations such as the Chicago Symphony Orchestra, and in those contexts it has proven to be very successful. As the example of Theatre Wit shows, this practice is now also making its way in smaller storefront theaters around Chicago.

An interesting take on the challenges of selling tickets during challenging times.  Check out the whole article here.

This entry was posted on Wednesday, September 7th, 2011 at 3:32 pm and is filed under Thoughts and Observations. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.