Strengths
- Credibility
- Revered position as key part of “cultural fabric of civilised society”
- National, local and international
- Large volume of activity
- Intergenerational
- Passion
- High quality brand
- Loyal customer base
- Long history
- Flexible – product, venue size
- Generally based on funding mix of majority box office + government + private sector, therefore reduced risk by spread of revenue streams
- Portability
- Transcends language barriers
- Strong commitment to education sector – long traditions of both school-based and private tuition
Weaknesses
- Heavy reliance on subscriber base
- Aging
- Time constraints leading to aversion to advance non-reversable commitments
- More competition making ratio of marketing:sales ratio ever tighter to achieve cut-through
- Unapproachable/elitist image in some sectors of industry – daunting for the “uninitiated”?
- Tension in business model between need for guaranteed sales up front and greater demand for customer-led engagement (flexible access options)
- Parallel decrease in CD/DVD/TV material leading to very narrow brand name recognition (only the biggest get through) – doesn’t fit the “celebrity chase” fad
- Most companies run on stretched resources
- History/reputation for being risk-averse
Opportunities
- Brand strengthening through new products / programs
- Leverage customer base, with more focused cross-promotion within sector
- Develop wider audience through alliances and new formats (eg festivals)
- Education (life-long)
- Build on social aspect of concerts
- Generational transfer of wealth may lead to greater philanthropic support
- Technology – individualised access
Threats
- Reduction in corporate sponsorship
- Increasing artist fees and expenses
- Other arts bodies (competing for funding and audiences)
- Generational change in tastes
- Technology – alternatives to live music
- Crowded school curriculum with decreased focus on music government focus on non-arts agendas
- Skills shortage making it difficult to retain younger staff
Author
Mary-Jo Capps, 2007
Musica Viva Australia.
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