After a 2011 bankruptcy, the Syracuse Symphony Orchestra resurrected itself as a partnership in which all representatives share some of the financial risk
Dynamic pricing makes sense as a way to increase earned revenue. So why do so few organizations do it?
PLANNING YOUR EARNED REVENUE MODEL
Before extending a successful run, nonprofits need to consider feasibility and costs to make an informed decision.
A crude attempt to increase the earned income ratio can be damaging to an arts organization.
This article examines 10 business models for nonprofit organizations.
Earned income at arts organizations has failed to keep pace with inflation and fundraising has suffered at many institutions. Growth in revenue must be the long-term answer with judicious cost cutting, aggressive marketing, and fundraising in the short-term
The arts may be in a precarious situation because of failures in arts education, professionalism, and leadership, as well as a failure to appeal to diverse audiences
An Americans for the Arts study graphs the different revenue sources for arts organizations. Today, over half of nonprofit arts income comes from earned revenue, on average.
As audiences have come to expect free culture and entertainment, old innovative models don’t work!
SCALE & REVENUE
Scale is a complex issue in the arts sector. Small organizations encourage aesthetic diversity, yet scale increases the reach of organizations.
To scale or not to scale, that is the question… Building larger, more efficient systems comes with trade-offs.