Breaking news: I just bought a copy of the New York Times.
I wanted to get a print copy of yesterday’s Avenue Q review so that our street team sellers could use it to show potential customers how timely the show is.
It cost me $2.
I literally said to the Newsstand Man, “Well, I’m never going to buy another copy of this paper again.”
According to HuffPo, the price of the paper has doubled in less than 2 years in an effort to make up some of the difference in the loss of advertising revenue and loss of readers.
Let me state the obvious:
Raising your prices to make up for a shortage in customers and/or an increase in expenses is never wise.
You want to raise your prices? You better increase your value.
This message goes out to the NY Times . . . and to our industry as well.
Slowly but surely, we’ve been doing the same thing. Grosses going up. Attendance going down.
Let’s just pray that we don’t reach a point where a former loyal customer says, “Well, I’m never going to buy another ticket again.”
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Ken created one of the first Broadway podcasts, recording over 250 episodes over 7 years. It features interviews with A-listers in the theater about how they “made it”, including 2 Pulitzer Prize Winners, 7 Academy Award Winners and 76 Tony Award winners. Notable guests include Pasek & Paul, Kenny Leon, Lynn Ahrens and more.