One of the biggest challenges in producing theater on any scale is to fill a house with people paying the "right" price. Producers want to maximize revenue. Audiences want to be entertained for a price that keeps the entertainment enjoyable.
Over the summer, I aim on developing the skillset to determine the perfect price point for shows so that houses are at 100% capacity with audiences that are paying prices they are most comfortable with. Revenue is maximized, producers can make more shows, actors + creative team have more jobs, and the industry grows!
Financial services already use these technologies. So do airlines, hotels, Facebook, Google, and Amazon. Let's use data science in Broadway!
I am most enthused by Kevin R. Williams's study from Yale: "Dynamic Airline Pricing and Seat Availability." Similarly Ian Boneysteele, Konstantine Buhler, James Kernochan, Mike Mester, and Soren Sudhof study at Stanford: "Forecasting Broadway Show Gross Revenue."
Wish me luck as I begin this next stage of my journey!
Boneysteele I., Buhler K., Kernochan, J., Mester M., Sudhof S. (2016). Forecasting Broadway Show Gross Revenue. [online] Stanford School of Business. Available at http://zoo.cs.yale.edu/classes/cs458/lectures/old/Broadway/Final%20report%20vF.pdf [Accessed 18 Jun. 2018].
Steinmetz, J. (2016). Exploring Broadway Data in Tableau | InterWorks. [online] InterWorks. Available at: https://interworks.com/blog/jsteinmetz/2016/08/03/exploring-broadway-data-tableau/ [Accessed 18 Jun. 2018].
Williams, K. R. (2017). Dynamic airline pricing and seat availability. Yale School of Management; Yale University - Cowles Foundation
Sorry for the late update! With the Jewish holidays, things have been particularly busy at this moment. I'm therefore "checking in" for this month instead of my usual longer update.
My play MAGIC is coming along smoothly, SOCIOPATH ROOMMATE is too, internship at National Yiddish Theater Folksbiene is great, I started a producer class at TRU (Theater Resources Unlimited) where I'll be learning a lot for the next 11 months, and I hosted a cold reading series at The Artist Co-Op.
Media: I was quoted in an article about faith in modern orthodoxy: Faith and Doubt Among Young Modern Orthodox.
You'll have a warmer update from me next month. Chag Sameach! (Happy holidays!)