Toronto Symphony gets in tune with customers

Client Results Story

Opportunity
The Toronto Symphony Orchestra faced two alarming trends: 
  • Customer retention had dropped from 80 percent to 69 percent in the previous four years, significantly underperforming peer cultural institutions.
  • Revenue trends were disheartening. In the previous three years, subscription revenues had remained flat while costs rose 10%. Other revenues were projected to decline by 10 percent, and government funding (over 25 percent of revenue) was expected to decrease in coming years.
Bain was asked to devise a turnaround strategy that would: 
  • Increase the size and profitability of the subscriber base 
  • Determine the economic value of strategic alternatives

View Approach

Approach
Bain used a three-pronged analytical approach to develop an initial fact base.


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View Recommendations

Recommendations
Based on key findings, Bain recommended targeting controllable factors to boost retention and revenues.

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View Results

Results
Bain recommended five initiatives to support the key findings. The Toronto Symphony Orchestra implemented several of these initiatives, resulting in a significant increase in customer retention.

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