Hi, I didn't want to disturb the earlier thread on the B&O museum opening, and the concurrent rate hikes, so I'll start this one.
On Friday (Nov 12), I believe, there was a report on NPR about the refurbishing of and reopening of the Museum of Modern Art in New York City, which brings its own admission increase from $12 to $20 per visit. Membership is at $75 for a year. The same discussion we encountered here last week was also discussed on the radio regarding a museum which has a lot of art work that people don't like(also mentioned on the radio).
One idea floated was that this increase was "testing the waters" for other museums, looking for a possible increase, or excuse for an increase. The MoMA people denied this, but it does make $10 seem like a bargain for another museum doesn't it? Only the Rock & Roll Hall of Fame in Cleveland charges as much as MoMA per visit.
They said that no government subsidizes it, and it needs to cover liability, heat, atmospheric conditions, security, and "post 9-11" issues. Much like we have been discussing.
Another point made was that the initial 25c. charge when the museum opened in the 1930s, adjusted for inflation, comes to about $3.75 in today's dollars.
I still say, plan your visit to make it worth your fee. If you want to "pop in," the best way is to become a member, especially if you live close.

Chicago’s Shedd Oceanarium, is the largest indoor aquarium in the world. They charge $23 for adult admission and nearby parking as I recall is $12. That said, the number of visitors has risen steadily over recent years and it is now the largest paid admission cultural venue in the Midwest. They definitely give value for their money as it is hard to see everything in one visit, the dolphin show is outstanding and (crucially) they constantly add new exhibits. A major donor to the museum and its past chairman is former AT&SF chairman, John Shedd Reed.

Charge what you can, but give value to your customers.

As I finished my MBA many years ago, one of the professors who had a lot of real world experience sent my Advanced Cost Accounting class on its way with the following piece of advice:

"Beware of people who know the cost of everything and the value of nothing."

If people leave your facility satisfied, they will think of the value they got in visiting, if they don't they'll bit** about the cost of admission.

Frankly, I think we need to examine how much we charge versus what the rest of the world charges. Just read a piece where NASCAR tickets are $100 per race and NASCAR gets huge TV revenue.

So Mark, why are people willing to pay that to see several drivers try to make the specified number of left turns in the minimum amount of time rather than to experience our programming? Never did understand it - too few really good crashes to break the monotony. Maybe you need to be part of the Velvet Elvis set to appreciate it, and, if so, where do they get the money and how do we get it from them? And while we are at it, what's the big deal about college sports? Should we try to ally ourselves with an institution of higher learning?

My gut feeling is P. T. Barnum was right and I don't know what to do about it.

dave