MayAudraBlessYou2 said: "VintageSnarker said: "MayAudraBlessYou2 said: "If there's discounts freely available for all dates, a customer says "eh, I'll get to this show if I have time. I really gotta make sure I can see this $250 show somehow instead"."
I feel differently. As long as it's not a limited run, I assume high ticket prices means demand is too high and I would do better waiting for more availability and better deals in the future. Whereas low grosses means you have to rush to see the show before it closes. Of course, there are shows that do not have enough appeal to general audiences regardless of how much you discount or paper, but that's a different matter."
But you are approaching the scenario as a local theater fan. Your average ticket buyer is definitely not paying attention to grosses. They are not tapped in to the ebbs and flows of pricing structures. Having a high price makes people associate the product with quality.
An example:I asked my late partner if he wanted to attend The Bands Visit with me because it was in previews and dates popped up on TDF. He was unfamiliar with any details about the show but said "Oh but why is it only $47 dollars? It must not be any good". This was only because cheap tickets were readily available.
I do feel quite confident in what I'm saying, as someone with 18 years of experience in ticketing. Pre-pandemic, Iwould be looking around a week out from a performance date to list with papering services if the house needed a boost. But now, if I list that far in advance on multiple services...full price sales seem to dry up and it feels impossible to move inventory. Yet, if I don't list on papering services, that house that needs a boost often suddenly fills up at full price just 2 days before the show. So for papering we have pivoted to very last minute listings, usually the day or 2 prior. AND we experimented with lowering the sales threshold which activates dynamic pricing. Low and behold, once the ticket prices went up, even just a tiny bit, sales picked up. People see the higher price and think "I've got to jump on this." We are in a totally new world of audience buying habits for theater, and it truly is "adapt now or die." And this means we will see, and already have seen, a markedly different approach to papering and discounts."
Thanks for all of your insight, MayAudraBlessYou2! I do a monthly show here in the city that's been running for over 10 years now and our experience has reflected what you said about last-minute ticket buying. Pre-pandemic, we used to have heavily sold or sold out shows at least a week or two before the performance. Now, we are still hitting are targets consistently but maybe a day or two before. Even the day of. I'm glad what we have felt anecdotally is backed up by your experience. I've learned to relax about it. Others are still a little anxious when we see the numbers two days before the show.