Thursday, December 17, 2009
Lincoln Center opens discount B.O.
Variety: "Lincoln Center today opens a new atrium incorporating a box office that will sell day-of, discounted tickets to performances presented at all venues of the Gotham performing arts complex."
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It works for hotels, it works for the airlines, why not see if it works for the entertainment industry? Simple economics says that different people are willing to pay different amounts for the same thing, the trick is to start the price high to get the ones who will pay full price, then discount the leftovers more and more until you've at least managed to make something for what would otherwise be an unsold seat (and of course you also have a shot at selling them t-shirts, soundtracks, or whatever else you have laying on the table). The hard part is making sure that those who are willing to pay full price still do instead of waiting for the tickets to be discounted.
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