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Where audiences choose to go, how often, to what art form and how they find out about events is critically important. Maintaining accurate and up to date data on customers will help to inform and shape a marketing strategy to encourage more frequent attendance and build better customer relationships.

Nick Beasley, Audiences Wales

Jargon Buster

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Gross income

What does this mean?

The amount of income received before any deductions are made to reflect elements such as VAT, credit card charges, booking fees or any other chargeable aspects.

For purposes of simplicity and consistency, wherever possible the use of gross income (rather than net income) should be encouraged.

How did we get this definition?

'Gross’ is a standard accounting term that means the value of something before any deductions or reductions have been made – see above (for instance, a ticket price paid including VAT and before deductions for agency charges and credit card commission).

Related and similar definitions

Since the gross value of a ticket will be perceived by a customer as its face value, it seems logical to report on financial details from this perspective. Consequently it is recommended that, wherever possible, all financial analyses relating to audience transactions should use gross values.

One way of envisaging gross (and net) income is to consider all the income relating to a particular payment for an admission ticket. Some of it is included in the published face value of the ticket, while other aspects of it sit outside (and thus are additional to) the published face value (see diagram below).

Thus gross income from a ticket should include all the income relating to each ticket purchased (i.e. both the income that is part of the full face value PLUS any other ticketing charges made in relation to that ticket such as handling fees, credit card charges and postage).

 [Diagram showing the components of gross income]