Ask Me Anything Question
"I keep hearing about the RMA from my colleagues in the industry. I know it’s software used for pricing, but can you explain more?"
Jamie Alexander’s Answer
Of course! The RMA stands for the “Revenue Management Application.” We at JCA developed this software with our partners in the UK, Baker Richards, for Tessitura users. Basically, the RMA is a desktop application that gives you customized, at-a-glance reports and tools to help you make good strategic decisions regarding house scaling, dynamic pricing, discounting, forecasting, and inventory management.
Here are some examples of the types of reports you can find in the RMA:
- Sales Curves: Easily compare how ticket sales and income for a given show are pacing against comparable productions or performances, without managing complex spreadsheets.
- Monitoring Dashboards: Review house capacity, progress towards your goal, average prices, sales by zone, price type, and more for multiple performances at-a-glance to make dynamic pricing and discounting decisions.
- Incremental Income Reports: See how much additional income you made from dynamic pricing increases.
- Sales Index: View big picture sales and pricing trends over multiple seasons or fiscal years.
Plus, the Forecasting Module allows you to use comparator productions to set forecasts for your upcoming performances, and gives you weekly sales benchmarks to indicate whether each performances is on track to reach its goal.
The RMA is a standalone application that works in tandem with your T-stats and Tessitura reports. Coming soon, the RMA will also integrate with Tessitura Analytics, providing a set of custom built dashboards exclusively for RMA users.
We’re actually hosting a RMA webinar on Thursday of this week (April 11) at 2 p.m. ET to show you how the RMA can be used to optimize pricing for theatres. Join us! Here’s the registration link.
And if you’re not on Tessitura don’t fear. JCA has customized pricing consulting options to help you with your pricing as well.
Thanks for the question, and happy pricing!
JCA Arts Marketing collaborates with cultural organizations to increase revenue, boost attendance and membership, and grow patron loyalty. We provide consulting and software services to hundreds of cultural institutions across multiple genres, including dance, museums, opera, performing arts centers, symphony, and theatre. We can help you achieve your marketing goals.