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Elasticity of Demand
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<blockquote data-quote="RamblinRed" data-source="post: 868656" data-attributes="member: 1776"><p>Good article on changes in ticket markets both professional and college.</p><p></p><p>[URL unfurl="true"]https://sports.yahoo.com/attendance-down-across-sports-ticket-050156066.html[/URL]</p><p></p><p>Attendance numbers generally track the number of tickets distributed, whereas scan rates are used to see how many fans actually show up. According to a 2019 study in <em>The Wall Street Journal</em>, for instance, scanned numbers could be 50% of announced attendance for college football programs. <strong>Even at Alabama, the numbers increasingly didn’t line up, as the scanned-to-attendance ratio dropped 12 percentage points between 2014 and 2019, to 70%.</strong></p><p><strong></strong></p><p><strong>TicketManager CEO Tony Knopp said that in 2019, a scan rate around 70% was typical. Now, he’s seeing scan rates dip below 40% at times.</strong></p><p></p><p>“That’s how we know demand is soft,” Knopp said. “A lot of the teams are playing the Aaron Rodgers game, like, I’m immunized, where they’re saying we distributed 16,000 tickets tonight, and 6,000 people showed.”</p><p></p><p>Ten years ago, brokers “were just making piles of money” reselling tickets, Stage Front head of partnerships and marketing Mike Guiffre said. Teams understandably started raising prices to collect more of that value. But that led to season ticket holders dropping off, especially as fans grew more comfortable buying tickets as needed on secondary marketplaces.</p><p></p><p>Of course, increased supply and dropping prices will only further encourage season ticket holders to flee, exacerbating the problem. Many are already opting for partial-season offers. “If the pricing continues the way it is now with this supply,” Guiffre said, “it’s just going to be a race to the bottom.”</p><p></p><p>Today, teams are left playing a dangerous game. They’re attempting to fill seats—and in many cases recoup losses from a year without fans—without flooding the market or upsetting season ticket holders. </p><p></p><p>The real test of how well the sports ticket market will bounce back from COVID will likely come next year. Teams often let season ticket holders defer their 2020 tickets a year, decreasing volatility for now and leaving a big question mark for 2022 when a wave of season ticket decisions get made.</p></blockquote><p></p>
[QUOTE="RamblinRed, post: 868656, member: 1776"] Good article on changes in ticket markets both professional and college. [URL unfurl="true"]https://sports.yahoo.com/attendance-down-across-sports-ticket-050156066.html[/URL] Attendance numbers generally track the number of tickets distributed, whereas scan rates are used to see how many fans actually show up. According to a 2019 study in [I]The Wall Street Journal[/I], for instance, scanned numbers could be 50% of announced attendance for college football programs. [B]Even at Alabama, the numbers increasingly didn’t line up, as the scanned-to-attendance ratio dropped 12 percentage points between 2014 and 2019, to 70%. TicketManager CEO Tony Knopp said that in 2019, a scan rate around 70% was typical. Now, he’s seeing scan rates dip below 40% at times.[/B] “That’s how we know demand is soft,” Knopp said. “A lot of the teams are playing the Aaron Rodgers game, like, I’m immunized, where they’re saying we distributed 16,000 tickets tonight, and 6,000 people showed.” Ten years ago, brokers “were just making piles of money” reselling tickets, Stage Front head of partnerships and marketing Mike Guiffre said. Teams understandably started raising prices to collect more of that value. But that led to season ticket holders dropping off, especially as fans grew more comfortable buying tickets as needed on secondary marketplaces. Of course, increased supply and dropping prices will only further encourage season ticket holders to flee, exacerbating the problem. Many are already opting for partial-season offers. “If the pricing continues the way it is now with this supply,” Guiffre said, “it’s just going to be a race to the bottom.” Today, teams are left playing a dangerous game. They’re attempting to fill seats—and in many cases recoup losses from a year without fans—without flooding the market or upsetting season ticket holders. The real test of how well the sports ticket market will bounce back from COVID will likely come next year. Teams often let season ticket holders defer their 2020 tickets a year, decreasing volatility for now and leaving a big question mark for 2022 when a wave of season ticket decisions get made. [/QUOTE]
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