Competitive Landscape Analysis: South Bank Centre and Rivals

This report provides a competitive analysis of the South Bank Centre, a major arts venue in London. The analysis identifies key competitors such as the Fort Mason Centre, Los Angeles Philharmonic, The Museum of Fine Arts, and Carnegie Hall, evaluating their impact on the South Bank Centre's profitability and visitor attraction. The report examines each competitor's revenue, employee count, and unique offerings, highlighting their significance in the competitive landscape. The study emphasizes the need for the South Bank Centre to develop effective strategies to maintain its market position, considering factors like artistic development, programming, and marketing efforts. The report concludes by underscoring the importance of understanding the competitive environment for the South Bank Centre's long-term sustainability.

Economics

Table of Contents
Topic: South Bank Centre’s competitors.........................................................................................1
REFERENCES................................................................................................................................3

Topic: South Bank Centre’s competitors
Southbank Centre is complex artistic venue within London, which is situated on South Bank
of River Thames. It is considered as one of the largest arts centre of UK with topmost visitor
attraction. In creation of great place and present best work where numerous people can come
together for getting bold and unusual experience, its key employees have provided major
contribution (Murray, 2019). Currently, near about 618 workers are associated with the
Southbank Centre, who receive great cultural experience, which brings people together for
providing best performance. Along with this, respective site has an extraordinary creative as well
as architectural history which is stretching back to Festival of Britain in 1951. This centre is
made up of Queen Elizabeth Hall, Royal Festival Hall, Hayward Gallery and Purcell Room and
concluded as home to the Resident Orchestras. All these artistic venues help in generating high
revenue over $42 million annually (Southbank Centre Limited, 2020). But presence of number of
artistic venues arise intense competition for Southbank Centres, which highly impact on its
profitability and earning visitors’ attraction. Such key competitors of this centre include New
York Philharmonic, Fort Mason Centre, Los Angeles Philharmonic, The Museum of Fine Arts
etc.
The Fort Mason Centre considers as one of the major competitor of Southbank Centres,
which encompasses with thirteen waterfront acres, including near about 25 gallery and
performance spaces. It is headquartered in California, United States, where having museums &
art galleries, gain attraction of people more easily (Wu and Jimura, 2019). As compared with
Southbank Centres, it has more than 2,458 employees who help in giving their best performance,
for enhancing visitors’ experience and attracting new ones, at worldwide level. Similarly, La Phil
or Los Angles Philharmonic which is formed in 1919 within Los Angeles, California, also
accounted as main competitor of Southbank Centres. With increasing growth rate of employees,
aid this centre to constantly increasing its revenue rate which is currently measured as $169
million. The Museum of Fine Arts, Houstan, at global level, known as the tenth largest
museum, which has a collection of museum spans having 6000 years of history. Here, near about
896 employees are currently worked in this museum with revenue rate over $68 million
annually. It also has a permanent collection of 63,718 pieces within 300k square feet of
exhibition space. So, this would aid Museum of Fine Arts to easily become attraction point of
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view for potential viewers. It also give intense competition to Southbank Centres and assist this
firm to work on creation of more attractive artefacts.
In the same sense, another main competitor which increasing intense competition for
Southbank Centres is Carnegie Hall. This concert venue is headquartered in Midtown
Manhattan, New York. It is considered as the most prestigious venues in terms of classical and
popular music, at worldwide level. This centre has its own artistic development, programming
and marketing department, which helps in conducting over 250 performances each season.
However, only 553 people are currently employed in this hall, but they are high skilled in
increasing the footprints of visitors continuously, to gain high profitability.
Apart from all these, Towerbridge Exhibition is the main competitor of Southbank Centre
Limited, because it is also located in London and build in 1880’s. It is considered as iconic
symbol of this country where its bridge crosses entire River Themes and close to Tower of
London. However, it produces a high competition to Southbank centre but generates relatively
less revenue. Thus, from all over analysis, it has been evaluated that there is high competition for
Southbank Centres of organisations, where to gain sustainability in market, they need to work
more on strategies.
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REFERENCES
Books and Journals
Wu, H. and Jimura, T., 2019. Exploring an Importance–Performance Analysis approach to
evaluate destination image. Local Economy, 34(7), pp.699-717.
Murray, S., 2019. The Evolution and Transformation of Bankside, London, 1947-2019. Journal
of Urban History, p.0096144219864677.
Online
Southbank Centre Limited. 2020. [Online] Available Through:<
https://www.zoominfo.com/c/Southbank-centre-limited/89161951>.
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