P.T. Barnum: Lost Dollar Taste
on Friday, July 5, 2019P.T. Barnum Money Quote saying those who believe American tastes are poor have not lost on that bet as yet. P.T. Barnum said:
“Nobody ever lost a dollar by underestimating the taste of the American public” — P.T. Barnum
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P.T. Barnum was commenting on the business acumen needed to succeed in show business and entertainment in America. The quote suggests that the American public has widely varying and unpredictable tastes. It can be easy to underestimate what kinds of acts, performances or exhibitions the general population will embrace.
Therefore, Barnum is advising to aim broad and low with offerings, since the tastes of average Americans are difficult to definitively gauge.
By not making overly refined assumptions, and by providing diversions for a wide audience, one is less likely to “lose a dollar” financially. In short, Barnum advocated catering to mainstream rather than elite tastes when it comes to commercial entertainment ventures in his country.