An industry with so many things to manage, theatres need a watchful eye presiding over them.
1. Average ticket price: Working out the average ticket price per show during a particular period will give you an idea of your incoming cash. Viewing this alongside your volume of ticket sales, and the gross profit you are returning per event can also give you a great idea of how your company is really performing. This will then allow you to review your pricing strategy.
2. Revenue per seat: Calculating how efficiently your team are translating your seats into cash is crucial. You need to be selling each seat at a fair, but profitable, price. Closely linked to your average ticket price, you need to keep on top of how much you’re charging.
3. Wages to revenue: You must measure the amount of revenue created against your wage expenditure, which will prepare you to write up your staffing rota appropriately. If this ratio sees more revenue that wage expenditure, you’re on the right path. If it’s the opposite, it’s time to look at how things can be improved.
4. Wet sales gross profit: Wet (drink) sales are a huge part of any performance, as we all know how busy a bar can get during an interval! Measure this KPI to calculate how effectively this revenue stream is contributing to your bottom line.
Don’t forget to swing by our KPI Library after the show. We also have industry-specific KPI lists available for you to enjoy.Calculate your average ticket price here.Learn to calculate your revenue per seat here.Find out more about your wages to revenue ratio here.Learn more about wet sales gross profit here.