The Cascade on Broadway
(4 pages of text)
Case (Gen Exp)
In 2009, the owner of a Broadway theatre has to figure out whether to switch to a new show or continue with the current one, which is not generating the revenue expected. He already has a new show booked to begin in five weeks; each new show requires a week of set-up time during which its producers pay rent to the theatre but there are no ticket sales. Is it worth closing the current show and replacing it with an unknown show for a very limited run? Or should he just let the current show continue until the new, already contracted show is set to begin? A freelance analytics consultant helps him solve the problem by analyzing past data on the weekly box office performance of shows.
The case can be taught in an undergraduate or graduate course in business analytics, revenue management or arts and entertainment analytics as:
- An illustration of how an amalgamation of analytics concepts is required to solve a real-life business problem.
- A model of the decision situation through decision analysis, regression and Monte Carlo simulation.
Arts, Entertainment, Sports and Recreation
United States, Small, 2009
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