The marketing and branding agency SpotCo and analytics firm Tanna Inc. have announced a partnership in an attempt to increase ticket sales, revenue, and inventory management for shows on Broadway, Variety reports.
The team will be able to offer clients services that will provide them with a better understand of their potential ticket buyers, taking the pressure off of producers who are already worried about filling theatres each night. Through data analytics and marketing resources, the companies will be able to see who buys the tickets and if they enjoy the show. From there, they can adjust prices and market in a more effective manner.
Stephen Santone, SpotCo’s co-managing director, told Variety that the agency is working with the evidence-based management company hailing from Manhattan, Tanna, to “make this a more effective and validated and all encompassing service for the producers that SpotCo and Tanna can now offer,” noting that it will be easier for producers to manage their invetory, as well as reach their revenue and ticket sales goals.
“Through our research efforts we now can say, ‘Here are the audiences that are loving your show and are most likely to promote positive word of mouth,’” Santore said. “We need to know what price points those audiences are interested in and what is going to move the needle for these audiences.”
Their partnership will allow their clients to “expand profitably and maintain longevity.” Gregg Arst, founder and president of Tanna, explained to Variety how it has become difficult to reach certain audiences in modern day, but with SpotCo’s help, they will be able to give recommendations to shows on how to keep their shows thriving in the future and meet their attendance goals.
“Spotco has always been at the forefront of Broadway commerce design with a tremendous history of creating strategically inspired services for their productions,” Arst said in a statement to Broadway World. “So it’s particularly exciting that Tanna Inc. can now share our data-driven concepts and ticket utilities with Spotco clients to enhance the connection between shows and ticket buyers. We are excited to collectively take Broadway a massive step forward.”
Currently, Tanna works with Dear Evan Hansen, Pretty Women, Rock of Ages, and StubHub, while SpotCo helps plays Tootsie, Kiss Me Kate, The Ferryman, and The Book of Mormon.