In our recent webinar, hosted in partnership with the League of American Orchestras, TRG Arts’ Vice President of Global Partnerships, Eric Nelson, shared the latest insights from the Arts & Culture Benchmark and engaged in a discussion about audience behavior, revenue trends, and the impact of shifts in funding.
Key Takeaways for Orchestras from the Webinar:
1. Single Ticket Revenue Is Strong, but Unit Growth Lags
Single ticket revenue is up across the performing arts sector, with orchestras seeing a 25% increase compared to 2019. However, the number of tickets sold remains slightly below pre-pandemic levels. While audience demand remains steady, ensuring that new attendees return for future events is critical for sustained growth.
2. Subscriptions and Memberships Are Thriving
Despite industry-wide predictions of their decline, subscriptions and memberships are seeing a resurgence. Orchestra subscription and membership revenue is up 41% from 2019, with units growing by 10%. Flexible package options and increased attention to member engagement have contributed to this success.
3. Holiday Programming Continues to Be a Revenue Driver
Holiday concerts remain a cornerstone of revenue generation, with orchestras experiencing a 19% increase in average revenue per performance in 2024 compared to 2023. Even with a compressed holiday season due to a late Thanksgiving, demand for seasonal programming remains high.
4. Challenges in Philanthropic Giving
Donations remain a concern, with average gift sizes down by over $1,000 compared to pre-pandemic levels. While the number of donors has increased, the overall revenue from contributions has declined. This shift underscores the importance of deepening donor relationships and creating compelling cases for financial support.
5. Retention Matters More Than Ever
Retention is the biggest opportunity for growth. Data shows that converting first-time attendees into repeat buyers can have a significant impact on revenue and donor contributions. Organizations should prioritize outreach, personalized engagement, and seamless experiences to encourage repeat attendance.
6. The Power of Asking the Right Questions
One of the most insightful moments of the webinar was the discussion on what data points organizations need to inform their strategies. Understanding audience behavior, pricing sensitivity, and retention patterns can help arts organizations make more data-driven decisions.
Looking Ahead: What Can Organizations Do?
- Invest in Membership Models: Memberships provide recurring revenue and encourage long-term engagement.
- Optimize Pricing Strategies: Track per-capita revenue and ensure pricing keeps pace with inflation while remaining accessible.
- Leverage Audience Insights: Use data to segment audiences and tailor outreach efforts for retention and donations.
- Advocate for Funding: With ongoing uncertainty in federal and grant funding, building strong cases for donor support is critical.
By understanding audience trends and adapting strategies accordingly, arts organizations can create stronger, more financially sustainable futures.
Watch the Full Webinar
For a deeper dive into these insights, watch the full recording. We encourage you to reach out with questions and explore how TRG Arts can support your data-driven decision-making.
What challenges or opportunities are you seeing in your own data? Let’s continue the conversation!