A thoroughly fascinating piece over at the New York Times looking at Stacy Spikes’ struggle to build a subscription based business in the film going space. It’s fascinating one so many levels but the one that sticks, firmly, in my mind is his answer to the question below:
Q. Are you saying that you could lose money on the subscriptions but make it up with other revenue?
A. We believe the best way to have a successful business model is to have multiple revenue streams. This model is very similar to that of a studio that is focused on more than just box office ticket sales.
via Taking a Third Pass at Selling Movie Subscriptions – NYTimes.com.
We should lock that idea in our heads and think of it every day in every way when we look at our own industries. Multiple revenue streams, multiple revenue streams, multiple revenue streams!