This fall, Situation—together with Broadway Direct and The Shubert Organization—surveyed more than 7,000 Broadway ticket buyers across New York City, the suburbs, and domestic-tourist markets. The survey, The Price Is Perception, set out to understand how audiences think about ticket cost: how they decide what to pay, when they seek discounts, and what ultimately drives them to buy.

To unpack what this data reveals, I sat down with Lisa Cecchini, Managing Partner at Situation, who helped oversee the project.

Lisa: Broadway is at a moment where perception and reality around ticket pricing don’t always align. We wanted to quantify that gap—to see what audiences believe tickets cost, how that belief shapes behavior, and where opportunity exists to make theatergoing feel accessible again. With more than 7,300 respondents and an 87 percent completion rate, this is one of the most comprehensive looks we’ve had at Broadway buyer psychology.

There is a lot we weren’t able to share due to time constraints in the presentation. If someone is reading this and wants to talk more about it, definitely just email me. Plus, it’s always great meeting new folks in the industry and sharing wisdom.

Lisa: Price drives the conversation—full stop. About three-quarters of people go into the process with a price point in mind before even looking at seats, and younger audiences were the most price-conscious. That number doesn’t vary much by frequency—whether you see two shows a year or twenty, most people start with a mental number they don’t want to exceed.

That said, most said their “right price” varies by show. The emotional connection to a particular title can absolutely move them beyond that ceiling.

Lisa: Price wins—by a long shot. About 70 percent said price matters more than where they sit. When seats do matter more, it’s driven by passion—seeing a show they’re deeply excited about, worrying about sightlines, or celebrating a special occasion. Premium decisions are emotional, not transactional.

Lisa: Discount culture is embedded in the Broadway ecosystem—and audiences are smart shoppers. About 60 percent said they’ve purchased discounted tickets in recent years, jumping to more than 75 percent among frequent theatergoers.

Younger audiences rely on apps like TodayTix and lotteries, while older audiences lean on TDF and TKTS. It’s less about desperation for a deal and more about strategy. People feel savvy when they find value.

Lisa: Yes. For a show someone already wants to see, a discount can be the nudge that turns interest into action—even if the timing isn’t ideal. Roughly 90 percent said they’d be at least somewhat persuaded by a discount with a limited window.

At the same time, very few people “upgrade” away from the discount once they’re in the purchase flow. These offers work best as entry points, not upsells.

Lisa: When people see a new show discounting, they assume it’s a marketing move—to build buzz, attract first-timers, and make the show accessible. But when an existing show discounts, it reads as a red flag—an attempt to fill empty seats.

Both actions involve lowering prices, but the perception of intent is completely different. Messaging and positioning make all the difference.

Lisa: Over half of respondents believe Broadway prices have “exponentially increased.” But when asked what they’re actually paying, only about a third said their own spend has risen that dramatically.

That disconnect is critical. It suggests that the narrative of Broadway being “too expensive” may be as influential as the actual price itself. As marketers, that’s both a challenge and an opportunity.

Lisa: The perceived average ticket price was around $175, while the actual average across Broadway Direct data is about $132—roughly a 30 percent gap.

Younger audiences perceive lower prices—likely because they’re engaging through apps and lotteries—but older audiences and locals tend to overestimate. That perception gap may be one of the most actionable findings in the entire study.

Lisa: The “sweet spot” for what audiences consider a great price for orchestra seats landed around $200. Anything above $230–$245 started to feel “too expensive.”

When it comes to marketing messaging, the phrase “Tickets starting at…” catches attention between $50–$67. Those numbers aren’t just benchmarks—they’re the difference between curiosity and conversion.

Lisa: The research reinforces that Broadway’s pricing conversation isn’t just about economics—it’s about psychology.

Audiences don’t reject price—they reject uncertainty. When people understand why a show costs what it does, when they feel clarity and value, they’re far more willing to buy.

We have a huge opportunity to reframe the conversation—not around cheapness, but around transparency and worth. And that’s really what The Price Is Perception is about: aligning what people feel with what’s actually true.

Lisa: Reach out to us. We present this data often, and the best part is the conversations that come afterward. We’re always happy to share more insights—there’s a lot we couldn’t even fit into this report. And our team? They’re some of the best media and marketing minds in the business, and they genuinely enjoy helping others think through these challenges. So don’t be shy—say hello at events@situationinteractive.com. It’s not some random email account – I read all of the emails that come in.