Revenue / 11.17.21
Attendance Is Down Across Sports, and Ticket Markets Are Flooded
Yahoo! Entertainment (11/09/21) Feldman, Jacob
Attendance has dropped across the U.S. sports ecosystem, while ticket markets are swamped. Three National Football League teams averaged less than 90% capacity in 2019, while this year seven teams are below that by ESPN's count. Meanwhile, half the National Basketball Association's (NBA) teams are currently averaging below 90%, as are 15 National Hockey League (NHL) teams — a threefold increase from the 2018-2019 season. Scan rates paint an even more troubling picture, as TicketManager CEO Tony Knopp said a scan rate of about 70% was typical in 2019, whereas today rates are falling below 40% at times. Eventellect co-founder Patrick Ryan partly blamed COVID-related confusion, given different venues and events follow different protocols. Certain long-term trends also correspond with declines in attendance: Stage Front's Mike Guiffre said 10 years ago, brokers "were just making piles of money" reselling tickets, so teams started hiking prices, which caused season ticket holders to drop off. "Then COVID put the pedal to the metal on that, and now there's just too much supply out there," Guiffre said. With increased supply and falling prices likely to worsen the situation, teams are in the unenviable position of trying to fill seats without oversaturating the market or angering season ticket holders.
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Tags: Sports , News