Interested in what Vatic can do for you? Dive into these case studies to see how Vatic's pricing tool and dynamic pricing make a difference in these arts organizations.
Understanding the True Value of a Performance
As the largest performing arts organization in the region, the Charlotte Symphony initially worked with Vatic on specific performances to help raise prices on high-demand performances. After four seasons, the dynamic pricing software tool continues to optimize because it continues to reveal price elasticity and real-time demand.
In the 2019-2020 season, the Charlotte Symphony presented Izhak Perlman at its annual gala. The one-evening fundraiser had a performance revenue goal of $125,000. Using the Vatic dynamic pricing tool, the Charlotte Symphony raised their revenue goal and earned $229,000, an increase of xx%. Vatic's Dynamic pricing tool does not simply about raise prices at the expense of selling fewer seats; it also raises capacity. The average ticket price from the performance was $109.
What is the true value of a performance? The Charlotte Symphony knew that Izhak Perlman was going to be a popular event and would draw a higher ticket price, but at Vatic we often find that arts marketers don't always know the true value of the performance and leave money on the table. I'm trying to finesse this without sounding insulting...