The Sydney Symphony

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The Sydney Symphony A presentation by Victoria
Doidge Director Market Development
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THE SYDNEY SYMPHONY

• Is Australias flagship orchestra
• Is a 70-year-old brand and a leading Australian
  cultural institution
• In 1995 was corporatised as an independent
  organisation from its parent company the ABC
• Performs over 100 concert per annum at our home
  the Sydney Opera House and regularly tours
  regional NSW
• Has a highly respected education that reaches 28k
  students per annum
• Concerts are attended by approximately 350,000
  per annum
• Company Purpose
• The Sydney Symphony will enrich the cultural
  identity of Australia by performing great
  orchestral music with a distinctive style and
  presenting the highest quality musicians our
  performances will entertain, educate and inspire
  audiences.

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INCOME ANALYSIS
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CORPORATE PARTNERS
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THE PROGRAM-LED RECOVERY

• In 2001 the Sydney Symphony was confronted with
• A dramatic decrease in ticket sales
• A loss of major sponsors owing to economic
  downturn
• Perceived changes in audience buying trends
  specifically down turn in subscription
  acquisition
• In 2002 Sydney Symphony conducted extensive
  market research in the area of customer
  segmentation which has underpinned a company-wide
  strategy called the Program-Led Recovery.
• Performances of core repertoire are now
  accompanied by less traditional programming
  styles targeting new audiences.

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AUDIENCE RESEARCH

• Research was conducted by Taylor Nelson Sofres
• Using
• Focus groups
• Qualitative research
• Outputs
• Identification of audience segments
• Measurement of satisfaction levels

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PRODUCT DEVELOPMENT

• The Sydney Symphony now uses its customer
  segmentation analysis to underscore its product
  development.
• It presents ten series of concerts each year to
  focus on its core segments the Electrolux
  Masters series targets the conservative consumer
  the Morgan Stanley Music series targets the
  emerging-audience segment
• In addition it has created a new arm of
  commercial programming that focuses on audience
  growth to the developers and spectaculars
  segments Valentines concerts and
  collaborations such as Dionne Warwick

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MEDIA BUYING AND CREATIVE

• Total media spend in 2003 was 1.137M and
  resulted in approx 10M in ticket sales
• Media buying and creative is geared towards
  segments
• Older conservative consumers respond to
  traditional media channels SMH, 2UE, 2GB
• The trialler segment responds to less traditional
  media such as cinema, online, outdoor
• The Big Night Out segment is geared toward more
  corporate media Financial Review, BRW,
  Bulletin, TV

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CHALLENGES

• Current marketing challenges include
• How to attract new audiences and appeal to a
  wider range of segments
• How to optimise its customer life cycle
• Reinvent its subscription model for a
  contemporary audience
• Increase its yield per seat with finite inventory
• Control marketing budgets in an increasingly
  shorter selling cycle (more sales later in the
  cycle creates pressure to spend)

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CURRENT STRATEGIC PROJECTS FOR THE MARKETING TEAM

• Audience Satisfaction develop tools to measure
  satisfaction
• Customer Relationship Management (CRM) develop
  or acquire the appropriate software to interface
  with our ticketing system
• Brand Audit consult all stakeholders in a brand
  audit process and set guidelines
• B1 Audience Growth grow understanding of this
  emerging audience
• 2004 Opening Night a seasoning opening event
  that is a landmark in Sydneys annual calendar
• Dynamic Pricing trial dynamic pricing for
  select high
• demand concerts

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2003 RESULTS

• The Program-Led Recovery showed strong positive
  results in 2003
• The company will announce a substantial surplus
  in its annual results
• Single ticket sales have grown by 35
  year-on-year
• Corporate partner revenues have increased
  substantially
• The ROI from the marketing improved
  significantly
• Strong foundation of media relationships such
  as Herald Sun CD