Ticket Sales (TS) Tip of the Week #42: The TS 3 legged stool.
(Part 2 on March 6th will highlight the TS stars & teams doing it well)
The three legged stole analogy for TS isn’t complicated.
(TS Yield, TS Capacity and Early commitment buyers perceived value)
Ticket sales yield- Most important to Minor League sports who don’t have revenue broadcast deals. That said, the 42 MLB, NBA and NHL teams connected to Bally media (bankrupt) face uncertainty as does the NHL when Rogers Canadian broadcast deal isn’t renewed at the same figures in 2 years.
Full Capacity (FC)- Covid reminded us that fans are the buzz @ live sports. Add to this the importance of F&B and parking per cap revenue, increased partnership interest and the FOMO’s FC creates to support membership retention and ticket use.
Early ticket commitment perceived value- This is the the least attractive leg to your CFO and the most important. If the event outcomes were consistent, leaving ticket value yield on the table to protect and retain your early commitment ticket buyers would help solve this is. Too bad they’re not.
Tomorrows report will highlight what some of the TS Stars are doing to retain and grow early ticket commitments to secure capacity and how they’re growing the TS Yield from the full capacity platform.