The following is based on the interview answer of Du Yifei, VAS Operations Manager of Washi:
Compared with previous years, the number of performances in 2023-2024 has increased significantly, the content is richer, and the performance quality is better. In terms of the revenue of the venue, it will be slightly profitable in 2023, and the main source of income is still the performance content, and the revenue from alcohol is relatively low, accounting for only 6% of the overall revenue.
The opportunity brought by this year's development is to recover, and to increase the utilization rate of the venue on a small scale, and to enhance the awareness of the venue team by connecting with better performances, of course, this also tests the overall professionalism of the venue team.
Judging from the performance days of the 2023-2024 venue, as of May 24, there are 280+ performance days in the tile VAS, of which 24% are sold out, which means that one out of every four performances is sold out, less than 15 non-music events throughout the year, and only 3 business performances.
At present, the demand for mid-week schedules is basically low, but compared with the scheduled situation in previous years, the mid-week usage rate has increased a lot, and Wednesday and Thursday are better than Monday and Tuesday. Thursday is a potentially relatively sizable day of performance, and it is gradually entering the selection and consideration of the organizers. Monday to Wednesday should be converted into a project building day or an internal activity day as much as possible, and the performance of advertising or performance activities will be more obvious in the summer.
In 2023, the operating cost of VAS will be higher, but the composition has not changed much, compared with previous years, the cost of equipment maintenance and some equipment replacement procurement has increased significantly, maintenance is due to the service life, and replacement is to achieve better performance results, which are necessary expenses. Despite this, the heaviest costs are the fixed monthly rent and manpower.
As far as the crowd structure of the show is concerned, the age and occupation of consumers have changed, not only limited to young rock hip-hop and mainstream music fans, but there is a trend of breaking the circle and expanding the market. Of course, with the prosperity and development of the performance market, the performance styles are more diverse, and it is reasonable that the corresponding audience range is expanding.
In fact, from a national comparison, Shanghai's performance environment is still good, and the relevant cultural policies are more friendly. Last year also saw the emergence of new performance venues, such as Renowned Live and New Song Space.
It's just that from last year to this year, the box office data of some domestic musicians' tours has declined significantly, and the data of some overseas musicians has not met expectations, and the venue booking situation in second- and third-tier cities has also fluctuated greatly, so it will still take time for the development of the industry to return to stability.
Judging from the position of VAS operation manager, there were not many new bands last year, but there were more show organizers. Under the three-year vacancy from 2020 to 2023, the growing cultural needs of the market and the masses need external stimulus, and at the same time, for overseas musicians who want to develop the Asian market, the domestic market is also a very important part of the tour.
This industry is also a new industry, and it is still attracting more people to participate, whether it is hosting performances or opening venues. Personally, I believe that what is lacking is the upstream, midstream and downstream of this industrial chain for the overall standard awareness of the industry and the consideration of helping the domestic market to develop benignly and long-term interests. More practically, the current market situation is neither fully localized and down-to-earth, nor far from meeting the professional standards of the international market, and is still in the stage of exploration and running-in.
We believe that the domestic market will become more and more attractive, but the iron still needs to be strong, and only by making sufficient preparations in the early stage can we see and seize the opportunity.
Typesetting: Heqing / Review: Rongrong
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