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Toronto Symphony Orchestra’s demand-pricing boosts revenue

The Toronto Symphony Orchestra has posted a 17 per cent increase in ticket revenues through its adoption of a demand-based pricing model in the 2016-17 season.

Single ticket revenue was also up 26 per cent, while subscription revenue has reportedly remained steady.

According to The Star, the organisation’s success is in part due to the work of the interim chief executive Gary Hanson, who is a veteran orchestra manager.

Hanson reportedly said the increase in ticket revenue came from the demand-pricing model which is similar to the one used by airlines.

“The Toronto Symphony Orchestra’s 2017-18 season was a success by all measures,” said Catherine Beck at Thursday’s annual meeting, as she outlined the financial as well as artistic successes.

Total attendance for the 2016-17 season was 258,806, while the number of first-time attendees was 22,736.

Subscriptions raised a total of C$7.3m, while single ticket revenues reached C$9.8m.

Image: PersianDutchNetwork