The good folks at Theatre Communication Group www.tcg.org have released their annual Theatre Facts for 2014 (the PDF can be found here http://www.tcg.org/pdfs/tools/TCG_TheatreFacts_2014.pdf).
Some good news and some to give pause. Over the next several days we'll highlight some of the findings.
One thing that stands out initially is that the TCG finds that "upswing in total income was driven more by growth in contributions than earned income, and it exceeded the rise in expenses over time".
How does your organization compare? Do you know how to compute your Contributed Revenue vs Earned Revenue? Are you comfortable with your organization's ratio? How do you compare with your peers?Are you targeting the best segments in your database to maximize the return during your subscription/annual fund campaigns?
On average, arts organizations rely on contributed revenue to make up 53% of their annual income. Opera companies can see that percentage as high as 60% where performing arts centers with mixed presentations can see a reliance on contributed revenue around 44% of their yearly need. (credit National Center for Arts Research)
Segmenting your database properly is the least expensive project you can do for your organization. Do you know who your most loyal patrons are? The most revenue producing? Create targets based on similar behaviors. Your data should drive your decision making process, let Double L Analytics and Consulting show you how. www.doublelanalytics.com