Revenue / 11.14.23
Ticket Prices Are Plunging Ahead of Formula 1’s Next Race Set on the Las Vegas Strip
CNN (11/09/23) Valinsky, Jordan
Event tickets are decreasing sharply in Las Vegas as the city prepares to host its first Formula 1 Grand Prix race in four decades this month. Excitement has been "fizzling" ever since driver Max Verstappen won this year’s championship title in Qatar early on Oct. 7, thus dampening enthusiasm among the sport’s fans as the end of the season approaches. This, in turn, has indeed translated to falling ticket prices. According to TickPick, they have plummeted 35 percent in the last month for the race, with the average "get-in" price plunging from $1,645 to $1,060 for grandstand seats. A year ago, tickets were priced at roughly $2,000 a year for the Las Vegas race. Prices could change once fans get a better look at the course snaking through the famed Vegas Strip during practice, TickPick CEO Brett Goldberg noted.
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Tags: Revenue , Grand Prix