A Ticket to Wonderland: Lookingglass Theatre Weathers the Recession With Clever Pricing

Philippe Ravanas, Paula Colletti

Philippe Ravanas, a native of France, is a professor in the Arts, Entertainment and Media Management Department of Columbia College Chicago. He is past Vice President of Corporate Communications for Euro Disney in Paris and has also worked for Christie’s Auction House in London. He lectures extensively for the Arts and Business Council of America and is a consultant for the United Nations and the World Trade Organization.
Paula Colletti, a graduate of Columbia College Chicago’s Master of Arts Management program, is currently an academic coordinator at the college. She plans to use her background in marketing and audience research to engage in marketing research and consulting for Chicago not-for-profit arts organizations.

ABSTRACT 
Lookingglass, the rising star of Chicago’s theatre world, has built a strong following with its thrilling productions that merge a theatrical narrative with acrobatics and dance. But the company is not immune to the ongoing economic crisis. After two years of shrinking contributions, it began to question the “one price fits all” policy it had adopted upon its founding. With the help of a graduate student from Columbia College Chicago, it reviewed its pricing strategy to better reflect its true artistic value.
KEYWORDS
Artistic mission, artistic programming, economic downturn, marketing, pricing, scaling
RÉSUMÉ
Lookingglass, l’étoile montante de la scène théâtrale de Chicago, a conquis l’audience avec ses productions qui allient narration, acrobaties et danse. Mais la compagnie est affectée par la crise économique. Après deux années de recul de son financement, elle remet en question sa politique de prix fixe en vigueur depuis sa création. Avec l’aide d’une étudiante de Columbia College Chicago, elle réinvente sa stratégie de prix pour mieux refléter sa vraie valeur artistique.
MOTS CLÉS 
Mission artistique, programmation artistique, ralentissement économique, marketing, tarification, hausse progressive
RESUMEN 
Lookingglass, la nueva estrella emergente en el ámbito del teatro en Chicago, ha sabido atraer una gran cantidad de seguidores con emocionantes producciones fusionando la narrativa teátrica con acrobacias y baile. Pero la compañía no está a salvo de la crisis económica. Después de dos años de disminución de las contribuciones empezaron a cuestionar su política de “un mismo precio para todos” adoptada desde la fundación. Llevaron a cabo, con la ayuda de un estudiante de Columbia College Chicago, una revisión de su estrategia de precios de forma a que refleje mejor su real valor artístico.
PALABRAS CLAVE 
Misión artística, programación artística, recesión económica, comercialización, determinación del precio, escalas de precio