In 2011 we switched from charging registration fees based on age to a “pay-what-you-can” system. While we were nervous for our bottom line, if everyone paid the minimum price we would lose money, we felt this change was necessary because age is not always a good predictor of one’s financial situation. Data from the last two years indicates that we needn’t have worried, our new system seems to be a viable model for pricing.
Positive Results in 2011
We were thrilled to see that in 2011, even with a new pricing structure, we were able to cover our costs without dipping into our reserves. We now believe that the pay-what-you-can system can be a model that allows for both financial accessibility and sustainability.
For the data geeks among us, here is a statistical and graphical summary of the 2011 registration fees:
Average payment = $128.50
Average payment by age-group:
- 18-22 = $115
- 23-28 = $128
- 29-35 = $143
- 36+ = $150
- Below minimum = $0-$90 (performers and staff)
- Minimum = $90
- At cost = $130
- Sponsor = $170 ($130 + $40 to cover for one person paying $90)
- 2x Sponsor = $210 ($130 + $80 to cover for two people paying $90)
Percent registrations below, at, or above cost:
- Below cost = 30%
- At cost = 36%
- Above cost = 33%
Numbers of Registrants by Age and Payment Category
Percent of Revenue by Age and Payment Category
Including t-shirt sales and other things, we were able to end up without any losses. So the point is, you all rock! You came together to make the weekend more possible and more accessible. The experiment worked!