The flip side of yesterday’s post.
While the rules of blogging aren’t as strict as the rules of reporting, I still like to present both sides of a situation.
And while I was researching yesterday’s post about the amazing story of Once and its record recoupment, I tripped over a little fact about the upcoming Broadway Week promotion that I thought was “interesting” and unfortunately a wee-bit alarming.
Don’t know what Broadway Week is?
It’s a fantastic promotion offering “Buy 1 Get 1 Free” tickets to a bunch of Broadway shows sponsored by The Broadway League and NYC & Company. (Which is the best part, because they buy a ton of media promoting the offer.) And it’s planned (of course) at a time of year when shows could use the help, from 9/4 – 9/16. (There’s a winter version as well.)
Some of the shows willing to hack their price in half during Broadway Week? (Which is actually almost two weeks.)
Well, there’s Chaplin, Bring It On, Chicago. And there’s Mamma Mia, Mary Poppins, and even Wicked.
And then there’s Porgy and Bess and Evita.
Huh. That’s funny. The only two nominees for Best Revival this year that are still running, including the winner, need a 50% off promotion.
Wait, there’s also . . .
Nice Work If You Can Get It, Newsies and . . . wait for it . . . Once.
Yep, all three still-running nominees for Best Musical, including the big ol’ winner, are part of Broadway Week.
(You can see more of the shows included in this article.)
What does this mean?
Well, it ain’t the best of news when the “best” that we have to offer have to resort to these kinds of deep and public promotions . . . and so soon.
But am I freakin’ out?
Nah. What this demonstrates is that we are living in a discounting world. And that it’s
possible necessary for producers today to be flexible with their pricing strategies both on the downside and on the upside. You may have to be more aggressive at times to make sure you house is full and your nut is covered. But there are also times of the year when if you are really “the best” (in an audience’s eyes, not an awards committee’s, actually), you’ll be able to stretch your price into premium territory to balance it out.
It would be great if all pricing could be set-it-and-forget-it. It would free up a lot of time for all of us.
But no one said Producing was easy.
That’s not true. Someone I know did say that once.
I think he’s doing marketing for an exterminator now.
(P.S. Take advantage of Broadway Week!)
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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.