Strategic Pricing for the Arts

Pricing is complex, especially in the creative and cultural sector. This accessible text provides a concise, practical, non-technical guide for setting prices. It brings the insights of sophisticated research into the art of pricing to the working arts manager or student, in accessible language, appropriate for students or practitioners with no formal training in economics. With roughly half of all income for non-profit arts organizations in the United States coming from earned revenue rather than donations and state funding, the issue of pricing is paramount to success in the arts industry, yet pricing is not covered in any existing textbooks. How should prices differ between ordinary and premium seating? How much of a discount in admission should be offered through membership or season subscription? When does it make sense to partner with organizations to offer discounts? Arts managers, whether working in the performing arts, museums or festivals, and whether in the commercial, non-profit, or state sector, need to make informed decisions on the prices they set. This accessible text provides the first concise, practical, non-technical guide for setting prices in the arts industry. Offering a practical introduction to pricing, this book is perfectly suited to students studying arts management /administration as well as new managers working in the creative and cultural industries.