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p te lrsm o m t owould r u c do is a competitive analysis. I would look not only at the four other New
York opera companies, but those in other major US cities and maybe London and Paris as
well.
– What would you analyze?
Everything. Revenues and revenue streams, ticket distribution outlets, fixed costs, marginal
costs, production costs, season schedule, ticket prices, the names and types of operas
produced, marquee names in each production, marketing campaigns and other uses for the
venue.
– That’s quite a list. After you did the analysis, what would you do?
I’d take the best practices and see if it makes sense to incorporate any of those practices at
the New York City Opera.
– You mentioned revenue streams. What do you think the revenue streams are currently?
Ticket sales, sales of programs, drinks during intermission, and merchandise like CDs, t-shirts
— that sort of thing. And I think fund-raising is an important revenue stream as well.
– How would you increase revenues?
Three ways. We can look at increasing ticket prices; we can increase our marketing campaign
to get more people to come to the opera; and once they’re there, get them to spend more
money.
– Can you think of additional revenue streams?
Maybe holding lectures and panels or possibly giving lessons?
– We’re not offering singing lessons. What else?
I’ll assume that an opera does not perform 365 days a year and that there are often stretches of
time when the venue is open or in preproduction. Every night that the opera house sits empty,
we’re losing money. So, why not hold other events in the venue, specifically musical events. I
mean, the acoustics have to be unbelievable, don’t you think?
– I would imagine. Okay, good. You also mentioned ticket distribution.