Predicting what’s going to happen in the future is difficult. We all know that just because something behaved in one way in the past doesn’t necessarily mean it’s going to behave that way in the future.
This is especially true for the arts where demand is driven not by necessity as is the case with something like air travel, but by wants and desires. And unlike air travel (which is usually seen as a means to an end), attending an arts event or attraction is an end itself – it is the experience that is important.
So what’s the point in trying to forecast demand for forthcoming events or seasons? Well, there’s the need to provide annual targets, meet income expectations, direct marketing spend appropriately and communicate with the right audiences.
Once you have a forecast in place this can be used to inform your tactics (e.g. for deal-making and marketing), and to identify opportunities for revenue management – planning adjustments based on expected sales at key points throughout the sales cycle.
Many models widely in use in the performing arts and visitor attractions have built-in inaccuracies – they’re unable to cope with the complexities of variable costs, scaling and deals, or to integrate external or historical comparator data.
Our income models help you to forecast accurately, playing out a variety of planning scenarios before committing to signing a deal, or altering your ticketing system.
Models enable you to quickly compare competing titles, zoning configuration, pricing and more, pulling in useful baseline comparators. Each model is customised to your venue or attraction.