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Pricing Strategies for Special Events and Programs

July 2024

How are cultural organizations managing their pricing strategies for admissions, memberships and across diverse programs and  special events?

This question led to a two part research study, consisting of an initial competitive analysis followed by interview insights. As part of the initial benchmark analysis, ABA created a dataset of events, programs and pricing from across 14 organizations. Of those organizations, we then spoke with 3 institutions to further our understanding of their pricing practices.

Findings from the research include:Strategies for diversifying revenue streams through:

  • Informal pricing practices: Overall from the organizations we spoke to, there is not always a very formal or strategic process to determine pricing for programs and events. However, with greater CRM integration and data analytic capabilities, organizations want to formalize their processes. 

  • Cross-functional teams to support on programming and pricing: Cross-departmental programming teams/councils support institutional alignment around capacity, and overall pricing and vision.

  • Managing change with other perceived value: Organizations that increased their pricing and admissions and/or reduced the discount/guest allowance for members have managed these changes and expectations by offering other benefits, namely early access.  Secondary activities like food & beverage and retail can also be an important added value to the visitor experience.

ABA members can read the full report by clicking the image below.