AudienceView Professional consistently helps clients achieve their mission, while driving revenue growth. In recent years, the live-event industry has undoubtedly endured some clear challenges, including declines in ticket sales, subscriber bases, and event attendance. However, despite global pandemics, uncertain times, and a digital-first world, we’re excited to see our AudienceView Professional clients thriving, thanks in-part to the flexible ticketing and revenue generating features on AudienceView Professional.
Remember that article we shared last year? You know, the one showing AudienceView Professional clients outpaced industry ticket sales recovery by nearly 30%?
This year, AudienceView Professional clients are back and better than ever! From theaters to museums to orchestras and beyond, clients of all sizes are seeing amazing revenue growth.
Increasing Ticket Sales
In 2023, most organizations set ambitious goals to bounce back from the impacts of COVID-19. Despite PwC’s “Global Entertainment and Media Outlook” highlighting a slowdown and projecting a change from 10.6% in 2021 to 2.8% by 2027, and the theater industry seeing a decline in revenue from ticket sales and subscriptions; AudienceView Professional clients are seeing noticeable growth in ticket sales.
The live-event industry was finally able to start leaving COVID-19 in the rear-view mirror. Audiences returned, tickets sold out, and venues s1tarted to move back to profitability.
Other ticketing organizations revealed that their clients were returning to growth. Spektrix, for example, shared that their clients’ 2023 ticket sales reached 93% of 2019 levels in the US and Canada. TRG Arts published an article claiming their “…venues are seeing signs of recovery”.
Despite PwC’s “Global Entertainment and Media Outlook” recently highlighting a slowdown, projecting a growth change from 10.6% in 2021 to just 2.8% by 2027, our team actively examines ways we can steer our client’s past industry averages and come out on top.
And with pockets of positivity all around the live-event industry, how did AudienceView Professional clients stack up?
We’re glad you asked! Live-event organizations using AudienceView Professional had an average growth of 19.4% in their ticket sales between 2022 and 2023. An amazing feat, no doubt – but it’s not exactly shocking to us. In fact, organizations on AudienceView Professional tend to grow total revenue by 16% each year they’re on the platform. Not only have they bounced back after COVID, but AudienceView Professional clients are exceeding industry benchmarks by roughly 20%.
*data accurate as of April 2024
Beyond ticket sales, most AudienceView Professional clients also saw their average order values grow between 2022 and 2023. This means they’re not just selling tickets to more attendees, but growing the overall revenue generated in each transaction.
Curious how they achieved this? Let’s dive into the details. First, AudienceView Professional clients benefit from a powerful CRM as well as an intuitive, user-friendly platform, loaded with features to help grow ticket sales.
Second, we’re here to address industry challenges, like getting to know your audience better through patron segmentation. With AudienceView Professional, you can customize your messaging through tools integrated with our platform like Mailchimp or Constant Contact. Together, the combination of these tools lets you run targeted campaigns that turn a wide range of attendees into loyal returning customers.
And if 19.4% growth in ticket revenue isn’t enough – AudienceView Professional enables clients to build brand new revenue streams through enhancing their checkout experiences with add-on options like ticket insurance, merchandise and donation asks.
Growing Packages & Subscriptions
If you clicked on the link from the previous section above, taking you to last year’s article (we know you didn’t 😉), you’d have seen that the industry was experiencing a decline in package and subscription sales – a trend that’s thankfully reversing.
Just like the rebound in ticket sales, we’re excited to see fixed subscriptions within the industry finding their footing again. Additionally, the appeal of fixed subscriptions isn’t just holding steady; it’s really starting to take off. Check out how the Mark Twain House has their fixed subscriptions on the rise!
With a remarkable 19.4% growth in ticket sales, it’s probably no surprise to learn that most organizations on AudienceView Professional are growing packages and subscriptions as well. Last year, organizations on our platform saw a dramatic increase of 12% in average package sales. This shows a renewed success in flexible packages and subscription models that appeal to today’s audience, even in the evolving landscape of live events. By choosing to tailor their package offerings to the ever-changing nature of the industry, our clients have been able to stabilize subscriptions sales and see growth.
Now, we’d be lying if we understated the importance of a flexible subscription and package builder in growing package sales. Don’t believe us? Click on the video to the right to learn how flexible packages are achieved on AudienceView Professional, in under a minute.
To sum it up, AudienceView Professional is ready to help you increase ticket sales and grow packages & subscriptions. With ticket sales soaring by an average of 19.4% and average package sales jumping up by 12%, our clients are outperforming the industry. Embrace revenue growth with AudienceView and join the numerous clients seeing incredible growth.