ATLANTA, GA/NASHVILLE, TN – Revenue management platform AnalytixLive and Project Admission have partnered to build an enhanced ticket pricing system called Precio. Designed to help performing arts venues dynamically price tickets based on demand and revenue targets, Precio is built on the existing AnalytixLive platform, using years of user feedback to develop a more “plug and play” dynamic pricing experience for revenue managers.
“Precio is the result of two decades of work with our arts partners who have collaborated with us in shaping a pricing tool that strikes a balance between technology and human touch,” says AnalytixLive CEO Anil Malhotra. “Precio is the natural evolution of our current offering and will give users an on-demand and intuitive experience with dynamic pricing changes in Tessitura.”
“We couldn’t be more thrilled to leverage Project Admission’s unique architecture to support AnalytixLive and Precio as they push to the forefront of performing arts pricing solutions and management,” says Project Admission COO Derek Palmer. “Anil and his team have been great partners and together we see an incredible future together that continues to build upon our companies’ respective strengths.”
Project Admission and AnalytixLive believe great revenue decisions are fueled by accurate data and a robust process, while great execution requires speed, efficiency, and precision. Precio provides both, combining real-time analytics, decision support, and intelligent automation into a seamless workflow that enables partners to act with confidence and clarity. In addition, Precio makes pricing change decisions easy, and venue ticketing managers can launch changes quickly, allowing them to adjust pricing in real time and at pace with event demand.
“We have worked with AnalytixLive for several years on a broad range of revenue management questions using data to make decisions on concert revenue targets, subscription pricing, and single ticket pricing including dynamic pricing,”, says Geoff Anderson, Vice President of Marketing and External Affairs at New Jersey Symphony Orchestra. “Having a dynamic pricing platform integrated into AnalytixLive will allow us to move swiftly from analysis to decision to execution within a single environment.” In addition to New Jersey Symphony, three other initial launch clients will go live with Precio in August.
The AnalytixLive platform, tools and services have been contributing to the revenue management decisions of performing arts organizations for more than 20 years. Everything from season planning, hall design and configuration, initial pricing/scaling, and dynamic pricing are the foundational pieces that have enabled organizations to view revenue management not as a series of unrelated and siloed conversations, but as an interconnected series of decisions that need to be orchestrated carefully for maximum benefit.
Currently, dynamic pricing decisions can take time to execute, with multiple layers of data analysis and approvals to navigate. With Precio, the time between decision and execution is much faster, which gives organizations an opportunity to maximize revenue and fill seats with pricing that matches demand. By utilizing the Project Admission Integration Layer, AnalytixLive clients will have the ability to send and receive pricing information in real time.
“Pricing is the most sensitive touchpoint with the customer. The decision to change prices should be made within the context of the data and the organizational objectives. It is both a high tech and a high touch activity. We believe that Precio integrated with the core AnalytixLive platform strikes the right balance. Human experience, advanced analytics and intelligent automation come together to free marketing and sales professionals to realize the highest and best use of their time” says Anil Malhotra.
About AnalytixLive
AnalytixLive’s platform, tools and services have been contributing to the revenue management decisions of performing arts organizations for more than 20 years. The company has taken feedback from weekly conversations with its clients and developed technological solutions that automate the data required to improve time-to-decision. Every aspect of venue revenue management, from season planning, hall design, seat pricing configurations and subscription pricing to dynamic pricing of individual concerts demands accurate and updated data, analyzed correctly and holistically. AnalytixLive is a trusted platform that analyzes approximately $2 billion in ticket sales data annually for clients including the Atlanta Symphony Orchestra, the Los Angeles Philharmonic, the New York Philharmonic and the San Francisco Opera, among others. For more information, visit analytixlive.com.
About Project Admission\
With an extensive and flexible platform, Project Admission works directly with the live event industry to provide additional features and functionality to primary ticketing partners to help drive revenue, create back-office efficiencies and capture new data. Featuring a growing suite of industry-focused, modern tools, Project Admission’s platform is directly integrated with leading primary ticketing platforms to help support sales efforts and retain existing customers while enhancing the overall fan experience. For more information, visit Project Admission.