Music & Culture

Creating a Broader Financial Scope for a German Top Orchestra

Challenges

Attendances growth not appropriate to the artistic successes

 

Financial restrictions: Too small budget measured against the artistic successes and in comparison to other orchestras

 

Need for a broader financial scope—in consideration of all relevant economic and artistic-strategic levers

Problem-Solving Approach

Examining the as-is situation regarding earnings, costs, concert management and business processes

 

Analyzing best-practice examples

 

Optimizing existing sources of income:

  • Increasing the number of attendees/subscribers by optimizing the concert bill as well as by improving marketing and public-relations efforts
  • Improving the subscription and pricing concept
  • Raising the advertising revenues
  • Optimizing merchandising/CD sales
  • Safeguarding existing subsidies

Exploiting new sources of income:

  • Setting up an advisory board
  • Fostering special projects
  • Developing a fundraising/sponsoring concept

Reducing the costs:

  • Exploiting new ideas for cost reduction (e.g. outsourcing of the concert management and sale of tickets)
  • Reducing the running operating costs (e.g. by optimizing the processes)
Results

Financial scope quickly broadened and sustainably ensured by medium- and long-term measures