Audiences may be returning, but ticket income tells a more complicated story.
New data from the Arts & Culture Benchmark shows that inflation-adjusted ticket revenue in the UK performing arts sector declined in 2024, even as ticket sales and occupancy recovered to (and in some cases surpassed) pre-pandemic levels. Of the 177 UK organisations studied, 105 saw a drop in real ticket revenue compared to 2018, with more than half of those experiencing a decline greater than 20%.
It’s a concerning trend: people are coming back, but the financial foundation isn’t keeping pace.
What’s going on? One key factor is ticket pricing. While many organisations fear audience resistance to higher prices, the data suggests otherwise. In most cases, price sensitivity is not the primary barrier. The issue may be internal: organisations, wary of public perception or still in crisis mode, are undervaluing their product.
Between 2023 and 2024, the average ticket price (ATP) across UK organisations fell; from £25.82 to £24.82 (adjusted for inflation). This drop came despite signs of audience demand strengthening.
Low pricing may feel like the responsible, inclusive approach, but if it’s not paired with a sustainable financial strategy, it risks undercutting the very work it aims to support.
Theatres and venues cannot build a future on full houses alone. Earned income must grow in tandem with demand. When it doesn’t, organisations are left doing more with less; less ability to reinvest in new work, pay artists fairly, or weather future shocks.
TRG is helping organisations across the UK reassess their pricing strategies using real data, not assumptions. The goal isn’t just to raise prices, it’s to match price with value and demand, and to do so in a way that protects accessibility while strengthening revenue.
One organisation that embraced this challenge head-on is Chichester Festival Theatre (CFT), which partnered with TRG Arts in 2023 during a pivotal leadership transition. With a new Artistic Director and a loyal core audience, the theatre set out to deepen engagement and drive loyalty through data-informed pricing and behaviour-based incentives.
With strong foundations in place, CFT aimed to further strengthen relationships with loyal patrons while optimising ticketing strategies for sustainable growth.
These tactics contributed to an £850,000 increase in ticketing revenue in a single season; a powerful example of what can happen when strategy, data, and execution align.
Chichester’s story shows that real change is possible - even fast - when organisations are ready to think differently about pricing and engagement.
The return of audiences is cause for celebration. But if revenue isn’t following, it’s time to look deeper. Let’s talk about what you see at your org: schedule a call.
Interested in the full UK Benchmark report? Download it below.