Boston Symphony Orchestra Marketing Case
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IMC Plan for the Boston Symphony Orchestra to attract young audiences, increase concert revenues and donations. Presented in June 2012.
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Boston Symphony Orchestra Marketing Case
- 1. Boston Symphony Orchestra MK-630 Prof. Jeff Myers Jonathan Follo GiGi Huang Rita Ma Ingrid Shen Jonathan Rubenfeld Raquel Tellado-Domenech
- 2. HISTORY • Founded in 1881 • 11th Ranked Orchestra in the World • Member of “Big 5” Orchestras in the U.S. Peformances • Summer Festival Season: • Tanglewood • Winter Season: • Boston Symphony Hall Boston Pop’s Fireworks Spectacular • Esplanade • Direction of Keith Lockhart
- 3. BSO SITUATION • Rising Costs • Decreasing Concert Revenue & Donations • World Famous Conductor James Levine • Left suddenly due to illness • Aging Core Audience • Slashed Arts Budgets • Rise in Modern Technology • Impatient Volunteers
- 4. SOLUTION SHORT-TERM • Find World Famous Conductor • Increase Concert Revenue LONG-TERM • Attract Younger Audience • Maintain and Increase Revenue & Donations
- 5. CONDUCTOR SEARCH • Track ticket sales from the guest conductor performances during the Summer and Winter 2012 Season • Follow Journalist Reviews • Potential Worldwide Search Committee SHORT-TERM
- 6. INCREASE CONCERT REVENUE “Significant challenge of trying to grow concert revenues in an ever more crowded marketplace” SHORT-TERM TICKET SALES & PACKAGES • Digital Recordings sold with tickets • Take the experience home • Weekend Package • Romantic Escape • Dinner @ The Oak Room • Sat night stay at Fairmont Copley Plaza Hotel (Official Hotel) • Ticket Sales Earlier Start Date • Start selling during the spring • Tanglewood experience SPONSORS • More Corporate Sponsors • Berklee College Balcony • Shreive, Crump, & Low Pavilion INCREASE PERFORMANCES • Tanglewood • 2011 Attendance 220,986 • 32 performances • Additional Shows on the weekend
- 7. INCREASE CONCERT REVENUE SHORT-TERM DECREASE # of PERFORMANCES • Symphony Hall • Operating Expense Per Show • $210,642 • Ticket Revenue (85% Capacity) • $172,500 (per show) • Average of $75 a ticket • Attendance 2,300 per show SAVINGS • -10 Shows $381,420 • -15 Shows $572,130 • -20 Shows $762,840
- 8. ATTRACTING A YOUNGER AUDIENCE LONG-TERM HIGH SCHOOL STUDENTS • Extra Tickets Donated to Schools • 400 tickets per show • Modern Events • Performance with Pop and Hip-Hop Stars (ie: Jay Z at Carnegie Hall with NYPHIL) • Movie Nights • Music from the movies • Bigger Venues • TD Garden, Bank of America Pavilion • Student Discounts
- 9. ATTRACTING A YOUNGER AUDIENCE LONG-TERM COLLEGE STUDENTS • Co-op with music colleges • Berkeley, NE Conservatory, Boston Conservatory • New England College Tour • Recruiting for internships or full-time musicians YOUNG PROFESSIONALS • Corporate Tickets
- 10. LONG-TERM • Direct Marketing • Improve website • Perks For Members • Exp. w/ Guest Conductors/Special Events • Advertising Campaign • Outside Agency, Pro Bono or Discounted • WGBH Partnership • Digital Space INCREASE DONATIONS/VOLUNTEERS RAISE AWARENESS
- 11. MBTA BRANDED EXPERIENCE SYMPHONY DAY SPONSORED BY MBTA • Branded Trains/Stations • Brands usually pay between $60,000 to $120,000 to take over a station for around two weeks • Disguised Musicians playing at various stations MUSICAL FLASH MOB • Raises Awareness • Opportunity for Digital Video • Appeals to all ages/all audiences
- 12. MARKETING COMMUNICATIONS • PR • School Tickets, MBTA Branded Exp., WGBH Doc. • Sales Promotion • Audio Recordings, Ticket Packages • Direct Marketing • Donation Out-Reach • Advertising • Potential Campaign • Digital • Maintain Social Media Presence • Hold Contests to Entice Younger Audience
- 13. BUDGET Overall 2011 Operating Budget $80.2 M - Musician Fee: $24 M - Operation Fee: $30.4 M - Organization Fee: $7.2 M + Extra Income - Conductor Salary - Youth Outreach Events - Marketing Budget - Facility Fee: $5.7 M - Marketing Fee: $4.2 M
- 14. MEASURING SUCCESS • Increase in Revenue • Increase in Audience & Donations • World Famous Conductor • More Awareness in Community & Shared Experiences • Social Media: FB, Twitter, etc. • Advertising • Modern Brand
- 15. CONTINGENCY PLAN • Cut more shows and/or increase price • Interim Conductor • Dip into Endowment Fund • $387.4 Million • 2011 $20 Million
- 16. THANK YOU