Pricing Strategy for the Arts.pdf
'This book is essential reading for anyone involved with Art's Management. Michael Rushton provides the first comprehensive guide to setting prices in the Art's markets - a toolkit of advice in understanding how to determine ticket prices, discounts, and concessions' - Rachel Pownall (Tilburg University, Netherlands)
Michael Rushton is Associate Professor and Director of Arts Administration Programs at Indiana University, USA
1. Introduction 2. Preliminaries 3. Setting a Single Price 4. Segmenting the Market 5. Two-Part Pricing 6. Pricing Quality 7. Pricing Quantity 8. Tied Sales 9. Dynamic Pricing 10. Pricing for Mission
With roughly half of all income for non-profit arts organizations in the United States coming from earned revenue rather than donations and state funding, the issue of pricing is paramount to success in the arts industry, yet pricing is not covered in any existing textbooks. How should prices differ between ordinary and premium seating? How much of a discount in admission should be offered through membership or season subscription? When does it make sense to partner with organizations to offer discounts? Arts managers, whether working in the performing arts, museums or festivals, and whether in the commercial, non-profit, or state sector, need to make informed decisions on the prices they set. This accessible text provides the first concise, practical, non-technical guide for setting prices in the arts industry. Offering a practical introduction to pricing, this book is perfectly suited to students studying arts management /administration as well as new managers working in the creative and cultural industries.