Question
You are organising a hybrid panel which will have both in-person and online attendees watching a livestream. To build anticipation and create an exclusive event
You are organising a hybrid panel which will have both in-person and online attendees watching a livestream. To build anticipation and create an exclusive event you spend $1,000 on advertising and publicity before the event. The venue costs $2,500 for the event with a $3 building improvement charge. The building improvement charge is paid for each guest attending the event. The rent is not paid in advance and is included in the final invoice along with the food and beverage.
The venue quotes audio visual tech fees of $30 per hour to run the lighting and another tech for $45 to run the livestream and they will require 8 hours to complete the set-up, during event tech and teardown. To have a seamless livestream you are using a platform that will allow for participants to interact with each other and the content, the platform comes to a total of $2,500. The platform fee is paid after the event. For each participant that signs up to the platform you get charged a $2 set up fee. To stream the best quality content you will need to hire a camera operator with equipment at a cost of $150 per hour for 7 hours. For the in person component you are serving food that costs $40 for each live attendee and that fee includes all staffing and other costs. You are anticipating a total of 70 guests at $100 in person and 50 attendees online for $20. Based on the venue's rental agreement all building improvement and platform set up fees must be included in ticket prices, but sales taxes are to be added on top of the ticket price.
Based on the online and in person tickets sold, what is your average revenue per ticket sold ?
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