Live Entertainment – Our Pricing Solutions

We help concerts and event organizers optimize their pricing to increase revenues and profits via demand prediction.

Challenges And Goals For the Live Entertainment Industry

The Live Entertainment business is increasingly fighting with digital competition, but also needs to focus on improving profitability. We help our customers to drive admissions and revenue with analytics and pricing software solutions.

Challenges for the Live Entertainment Industry

Hard to predict the demand for an event

Dozens of factors influence the demand for live events, such as date and time, weather, etc. Predicting the expected demand is key.

Attracting most visitors while also make enough profit

Event organizers want to attract as many visitors as possible. Cheaper tickets attract more customers, but hinder revenue optimization goals.
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Difficulties to communicate price changes

A change of the current pricing model needs careful customer communication to avoid visitor alienation and bad press.
Possible revenue increase for dynamically priced shows

Pricing Goals for the Entertainment Industry

Drive Revenues

Utilize the willingness to pay for event visitors to increase overall revenue. Create product bundels that customers can choose from.
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Individualize events for everyone

A good price mix offers the right ticket categories for all visitors and increase satisfation when everyone finds their preferred offer.

Incentivize online sales

Increase online sales through special discounts to collect more customer behavior information and get better planing security while saving money.

How We Can Help You Achieve Your Goals

To achieve the strategic goals of our clients we usually follow three steps:

Typical Results For The Live Entertainment Industry

+5% - 15%

REVENUE UPLIFT

+5% - 15%

ATTENDANCE BOOST

+30 - 70%

ONLINE SHARES

What Our Clients Say

“The optimization of our pricing strategy has completely convinced us. We decided to launch Dynamic Pricing with Smart Pricer to match each show to our strategic goals. ”
Maja Donath

Director of Sales, Palazzo

”Smart Pricer developed a model that allows us to determine the willingness to pay for individual customer segments. By tailoring our prices accordingly, we increased our revenue by more than 20%.”
Robert Koch

General Manager, Classictic

“Smart Pricer analytics helped us to identify meaningful patterns in our data that we need to focus on in order to improve demand predictions and effective decision making in our pricing. Their insights also helped us to recognize blind spots in our sales process, that can be optimized and help our business grow.”
Natascha Lecki

Director of Marketing, Sales & PR, Friedrichstadt-Palast

Our Case Studies

Discover how we introduce dynamic pricing with our clients.

Classictic Case Study

In this case study we explain the approach used by us to determine Classictic customer’s willingness to pay by using A/B testing.

  • 100k€ increased revenue for tested venues
  • 200k€ total annual revenue increase potential

The case study shows the used approach in details and presents the final recommendations for Classictic based on the A/B testing results.

FAQ – Answers to Your Questions

Why is dynamic pricing suitable for entertainment providers?
The combination of fixed capacity and variable demand creates the perfect conditions for dynamic pricing. As price sensitivity for each event fluctuates depending on performer, date of the event, weather and several other factors, dynamic pricing can be used to increase attendance at low demand events/shows as well as slightly lift ticket prices for events/shows with high demand.
What specific goals can be reached with dynamic pricing?
Real-time dynamic pricing enables entertainment providers to achieve strategic goals such as:
-Drive ticket revenues
-Increase visitor attendance at low demand events/shows
-Lift online shares and collect customer data
-Secure earlier cash in by enticing earlier bookings
What are the benefits of dynamic pricing for spectators ?
By booking early and/or attending low demand events/shows, spectators are rewarded with more attractive prices.
How to communicate dynamic pricing in the entertainment industry?
-Communication is key for a successful introduction of dynamic pricing. It is crucial to get spectators on board by communicating clearly and transparently what the dynamic pricing switch involves and how it can benefit spectators
-We propose to communicate how fans can get the best prices e.g. “Buy early buy smart”.
-We also encourage advertising using “from prices” or taking down the price lists from the website to maximize flexibility
-We help you with both online and offline communication with fans based on our world-wide experience
What are the expenses for event providers implementing dynamic pricing?
The costs vary based on the amount of dynamically priced tickets. However, revenue uplifts achieved with dynamic pricing are typically 5x – 10x higher than the cost of implementation.
Will our prices increase as a result of dynamic pricing?
The choice is yours. Dynamic pricing works “up” and “down”
We recommend a dynamization around the current price level: for events with high demand an increase in prices to skim willingness to pay and for events with low demand a decrease in prices prices to stimulate demand.

How Can We Help You?

Let's talk about how we can achieve your goals.

Leave us a message to schedule a first free consultation about your needs and goals. We are happy to hear from you. Just give us a call, send us an email, or stop by at our office in the heart of Berlin.

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Our offices

Smart Pricer – Office Germany
Brunnenstraße 7d
10119 Berlin

Smart Pricer – Office Austria
Leopoldstraße 24/1
6020 Innsbruck

Smart Pricer - Office Switzerland
Avenue du Temple 13B

1012 Lausanne