Friday, February 29, 2008

sydney opera house & the economics of scarcity

So here's the good news: Sydney Opera House is putting on Night Words. They have some of Sydney's best spoken word talent*. At the Opera house. With music. And other stuff. Book now!!!

And now for the less good news: I have heard on the grapevine that there is some weird "you can't perform several weeks either side of the event in Sydney" restriction on performers. Apparently this is quite common in the arts world. Because the audience for this stuff is small and we must guard our audience share at all costs. The preciousss is ourses.

Which if it's true is stuffed. Sure, you don't want someone trying to recreate a similar event the next week with the same line-up. But you do want these charismatic, talented people promoting your show all around town in a million smaller venues to new audiences. That's right: new people.

If you run your business on a scarcity model, don't be surprised if your market is well, scarce. Lots of parts of the arts seem to be run on exactly that scarcity model. And then there is a whole heap of whinging that the general public aren't interested or engaged**.

Now this may all be a load of rubbish. Can someone reassure me that the Opera House isn't doing something moronic?

*My favourite is probably Tom Keily - not only because he is a brilliant, passionate performer but also because he was an economist at the RBA in a former life.

**I am a crass populist and I love it.

N.B. There are lots of things that avoid the scarcity model: I was really impressed by the opening night of the Sydney Festival - so much cool stuff for free! The poetry / spoken word scene in Sydney does a lot of cross-promotion - largely due to Roberta, Danny & Jack.

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