We here at Lyric Opera always ask our single-ticket buyer audience to consider becoming subscribers. We entice you with subscriber benefits like free ticket exchanges, reserved seating year-over-year, and discounted rates over the single ticket price. But, have you ever stopped and wondered why we ask you to become a subscriber or how your subscription supports Lyric Opera?
Subscriptions vs. Single Ticket Marketing Costs
After contributed revenue, subscriptions are a critical piece of earned revenue that keeps performing arts organizations on stage. Supporting the company as a subscriber allows us to operate efficiently. Here’s why:
Subscriptions are more cost-effective than single tickets due to their targeted approach to opera enthusiasts and known buyers. In addition, supporting the company as a subscriber guarantees the company revenue that it can use in financial forecasts, allowing us to operate more efficiently.
On the other hand, single ticket sales require us to look for new buyers in the marketplace, which demands expensive marketing like billboards, magazines, radio, TV ads, and digital campaigns on various platforms like Facebook, Instagram, and Google Ads. The advertising cost to sell a single ticket last year was around ten times more than that of a subscription ticket. Unlike subscriptions, most single ticket sales happen in the final weeks before a production opens, making it very challenging to forecast revenue and operate efficiently.
What can you do?
Well, that’s simple: buy a subscription! Every full subscription sold reduces the amount of single tickets we have to sell in the marketplace.
“I don’t always know my schedule so far in advance.”
Purchase a flexible subscription. We offer flexible 2-opera and 3-opera packages.
The bottom line is every dollar not spent on single ticket marketing is money that ends up on stage in the form of world-renowned singers, stunning sets, and sumptuous costumes. It also means we can put more money into education and community engagement, ensuring this community cultural asset will thrive for years.