Data reveals how arts organisations are beating the odds

22nd May 2019

Today Spektrix publish their Insight Report. This report reveals how arts organisations across the UK, Ireland and North America are performing on metrics such as audience engagement, revenue management and customer and donor experience. We’ve looked at data across more than 300 arts organisations and identified where there are similar traits and behaviours amongst the highest performing organisations. The report analyses these achievements and the challenges faced within the context of the whole arts sector, retail and other related industries, and the larger economy.

Spektrix presents this as evidence that, against a challenging economic backdrop for arts organisations, there are hopeful signs of resilience. Investment in effective, future-looking strategies for audience development and revenue generation is evident in some arts organisations, and the impact on their success is clear. Yet, there is also a significant gap between best practice and standard practice across the data set. Spektrix publishes this report to support arts organisations to learn from each other, to empower the sector to find proven pathways towards resilience.

Spektrix will work with clients to benchmark their data individually and support them to implement strategies that will help them achieve their goals. They will continue to spread this message out into the sector and hope to support a more resilient arts sector. The full report can be downloaded here.

DETAILS

New insight into customer and donor behaviour finds the move to online and mobile is dramatic

> 60% of transactions made at arts organisations are now made online. This represents the average across a wide range and variety of arts organisations that has grown nearly 20% in 4 years.

> 46% of visits to venues’ online booking paths are on mobile phones.

However, In-person sales are typically worth 40% more than online sales

> Ticket sales are 6x more likely to include a donation online, however they are worth almost 2x in value when made in-person or on the phone.

> Upselling merchandise or drinks (a key income stream for many arts organisations) etc occurs 1.7x as often online as in-person and phone, yet is 35% higher in value in-person or on the phone.

Encouraging loyal audiences remains an area with considerable potential

> On average, 56% of transactions recorded by an organisation in 2018 were made by customers new to that organisation.

> Proportions of returning buyers and frequent bookers are largely unchanged since last reported in 2017.

Customisation yields results

> On average, targeted segmentation roughly doubles email marketing engagement.

> Micro-targeting based on recent customer behaviour was shown to increase engagement by 20x in some cases.

Yield management metrics indicate some organisations are leaving vital revenue on the table.

> Those organisations that implement a strategy to maximise revenue on high-demand events and tend to have an upward trend in their prices as the show approaches, can make an extra 10%+ on their original base price.

QUOTE

“At Spektrix, we believe that opportunities for people to experience arts and cultural events are fundamental to a high quality of life, and to the health of our communities. It is our mission to enable the vital organisations presenting these events to engage and deepen relationships with the broadest range of audiences.

With this mission in mind, I am pleased to introduce the first edition of the Spektrix Insights Report. The Insights Report delivers analysis on effectively engaging and deepening relationships with audiences. It features new data on online device usage and accessible online booking, and a number of concrete examples of organisations demonstrating best practice in audience engagement and revenue generation. We also hope you will gain useful perspective and insights from valued industry partners, and from our own expert consultants.”

Michael Nabarro, CEO

- Ends -

NOTES TO EDITORS

The Spektrix Insights Report looks at aggregate, consumer transaction data of up to 343 arts organisations in the United Kingdom, United States, Canada and the Republic of Ireland. Focused on metrics for audience engagement, revenue management and customer and donor experience (in person, phone, online and mobile), it includes a quantitative analysis of over 25 million items purchased across the Spektrix system in 2018.

This analysis is paired with qualitative assessments of organisations which sit in the top 10% of our performance metrics as well as context from the arts sector, retail and other related industries, and the larger economy.

This report includes aggregate data primarily from 1st January — 31st December 2018 gathered across up to 343 arts and entertainment organisations from the United States, Canada, United Kingdom and the Republic of Ireland. This large aggregate dataset comes directly from our Spektrix client databases, and gives a unique quantitative view of key performance metrics from across art forms and regions.

For each of the included metrics, we have defined a way to measure consistently across the whole dataset, and then looked at average percentages rather than raw figures to make the data points comparable across the differing sizes and types of organisations we have included. Where appropriate, we have also drawn comparisons between different organisation types and global regions where this may have a direct impact on the success metrics.

About Spektrix:

Spektrix is the leading provider of cloud-based ticketing, marketing and fundraising software to the arts industry. Founded in London in 2007, Spektrix now works with 400 organisations in the UK, Ireland, the US and Canada, providing them with the tools and support needed to help them build stronger relationships with their audiences, as well as develop new revenue streams and streamline their operations. Users in the UK and Ireland include Chichester Festival Theatre, the Royal Court Theatre, Birmingham’s Town Hall and Symphony Hall and the Gate Theatre in Dublin. While in the US and Canada they include New York Theatre Workshop, the Curran in San Francisco and the Royal Conservatory of Music in Toronto.

@Spektrix

Media Contact:
Anna Wiseman / anna.wiseman@spektrix.com / 0161 850 9624