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Friday, October 25, 2024
Data Cultures Part I: The Many Markets of Arts Organizations
AMT Lab @ CMU: Measuring the arts has challenged economists for over a century. Initially excluded from classical economic theory, the arts have gradually been incorporated into economics, now recognized within the "orange” economy.
1 comment:
JFleck
said...
The troubles with making a sustainable organization that can overcome market changes and weather economic declines are numerous. Starting a nonprofit without the backing of a larger organization, from scratch, is incredibly hard to do. Without knowing or being able to dedicate the time to know what your customer wants, whether that be people for tickets, governments for grants, or donations from companies or people it is even harder to be able to tailor your organization to larger trends that are hard to react to before it is too late. Being an independent artist is, in some ways, easier because you don’t need to worry about large overhead costs like rent, payroll, and utilities. An artist can likely carve out a niche for themselves, but an organization may need to tailor their work to their audiences. In a lot of ways, it is hard to change the work that you enjoy doing to adapt to a changing clientele, but larger organizations may have to. Using data to help drive these changes is a smart way to do this but the artists who run the organization may have to be willing to change what they want to do with what is best for keeping a sustainable business.
1 comment:
The troubles with making a sustainable organization that can overcome market changes and weather economic declines are numerous. Starting a nonprofit without the backing of a larger organization, from scratch, is incredibly hard to do. Without knowing or being able to dedicate the time to know what your customer wants, whether that be people for tickets, governments for grants, or donations from companies or people it is even harder to be able to tailor your organization to larger trends that are hard to react to before it is too late. Being an independent artist is, in some ways, easier because you don’t need to worry about large overhead costs like rent, payroll, and utilities. An artist can likely carve out a niche for themselves, but an organization may need to tailor their work to their audiences. In a lot of ways, it is hard to change the work that you enjoy doing to adapt to a changing clientele, but larger organizations may have to. Using data to help drive these changes is a smart way to do this but the artists who run the organization may have to be willing to change what they want to do with what is best for keeping a sustainable business.
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