An Easily Implemented Framework for Forecasting Ticket Sales to Performing Arts Events |
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Authors: | Putler Daniel S Lele Shilpa |
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Institution: | (1) Sauder School of Business, The University of British Columbia, 2053 Main Mall, Vancouver, British Columbia, V6T 1Z2, Canada;(2) Straitegy Solutions, San Jose, CA, USA |
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Abstract: | This paper presents an easily used framework for modeling ticket sales to performing arts and entertainment events. Unlike existing efforts in this area, our framework allows us to: (1) model demand for events that consist of more than a single performance; (2) account for the influence of promotional effort on ticket sales; and (3) account for sellouts of some performances. The framework is applied to ticket sales for a university theater company, where it predicts ticket sales well in both an estimation and holdout sample. We discuss how the framework has influenced the company's marketing decisions. |
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Keywords: | demand modeling prediction arts and entertainment marketing |
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