Boston Symphony Orchestra Marketing Case

3,315 views

Published on

IMC Plan for the Boston Symphony Orchestra to attract young audiences, increase concert revenues and donations.

Presented in June 2012.

Published in: Business, News & Politics

Boston Symphony Orchestra Marketing Case

  1. 1. Boston Symphony OrchestraMK-630Prof. Jeff MyersJonathan Follo GiGi Huang Rita Ma Ingrid Shen Jonathan Rubenfeld Raquel Tellado-Domenech
  2. 2. HISTORY• Founded in 1881• 11th Ranked Orchestra in theWorld• Member of “Big 5” Orchestras inthe U.S.Peformances• Summer Festival Season:• Tanglewood• Winter Season:• Boston Symphony HallBoston Pop’s Fireworks Spectacular• Esplanade• Direction of Keith Lockhart
  3. 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. 4. SOLUTIONSHORT-TERM• Find World Famous Conductor• Increase Concert RevenueLONG-TERM• Attract Younger Audience• Maintain and Increase Revenue &Donations
  5. 5. CONDUCTOR SEARCH• Track ticket sales from the guestconductor performances duringthe Summer and Winter 2012Season• Follow Journalist Reviews• Potential Worldwide SearchCommitteeSHORT-TERM
  6. 6. INCREASE CONCERT REVENUE“Significant challenge of trying to grow concert revenues in an ever morecrowded marketplace”SHORT-TERMTICKET SALES & PACKAGES• Digital Recordings sold with tickets• Take the experience home• Weekend Package• Romantic Escape• Dinner @ The Oak Room• Sat night stay at Fairmont CopleyPlaza Hotel (Official Hotel)• Ticket Sales Earlier Start Date• Start selling during the spring• Tanglewood experienceSPONSORS• More Corporate Sponsors• Berklee College Balcony• Shreive, Crump, & Low PavilionINCREASE PERFORMANCES• Tanglewood• 2011 Attendance 220,986• 32 performances• Additional Shows on theweekend
  7. 7. INCREASE CONCERT REVENUESHORT-TERMDECREASE # 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 showSAVINGS• -10 Shows $381,420• -15 Shows $572,130• -20 Shows $762,840
  8. 8. ATTRACTING A YOUNGER AUDIENCELONG-TERMHIGH SCHOOL STUDENTS• Extra Tickets Donated to Schools• 400 tickets per show• Modern Events• Performance with Pop andHip-Hop Stars (ie: Jay Z atCarnegie Hall with NYPHIL)• Movie Nights• Music from the movies• Bigger Venues• TD Garden, Bank ofAmerica Pavilion• Student Discounts
  9. 9. ATTRACTING A YOUNGER AUDIENCELONG-TERMCOLLEGE STUDENTS• Co-op with music colleges• Berkeley, NE Conservatory,Boston Conservatory• New England College Tour• Recruiting for internships orfull-time musiciansYOUNG PROFESSIONALS• Corporate Tickets
  10. 10. LONG-TERM• Direct Marketing• Improve website• Perks For Members• Exp. w/ GuestConductors/Special Events• Advertising Campaign• Outside Agency, Pro Bono orDiscounted• WGBH Partnership• Digital SpaceINCREASE DONATIONS/VOLUNTEERSRAISE AWARENESS
  11. 11. MBTA BRANDED EXPERIENCESYMPHONY DAY SPONSORED BYMBTA• Branded Trains/Stations• Brands usually pay between$60,000 to $120,000 to takeover a station for around twoweeks• Disguised Musicians playing atvarious stationsMUSICAL FLASH MOB• Raises Awareness• Opportunity for Digital Video• Appeals to all ages/allaudiences
  12. 12. MARKETINGCOMMUNICATIONS• PR• School Tickets, MBTA BrandedExp., WGBH Doc.• Sales Promotion• Audio Recordings, TicketPackages• Direct Marketing• Donation Out-Reach• Advertising• Potential Campaign• Digital• Maintain Social MediaPresence• Hold Contests to EnticeYounger Audience
  13. 13. BUDGETOverall 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. 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. 15. CONTINGENCY PLAN• Cut more shows and/or increaseprice• Interim Conductor• Dip into Endowment Fund• $387.4 Million• 2011 $20 Million
  16. 16. THANK YOU

×