Keeping Fans in the stands is getting harder to do Claire Viall 10.6.15.

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Presentation transcript:

Keeping Fans in the stands is getting harder to do Claire Viall

 In 2013, the MLB’s total game attendance was down by 417, 192 people compared to 2012 attendance.  This isn’t just a problem for baseball, attendance is down across all live sporting events, except for hockey.  Even the New York Yankees have seen a decline in 2,500 fans per game.  People aren’t going to live sporting events- Why? ARTICLE OVERVIEW

P Q *Except for Hockey. DEMAND IS DOWN S D1 D2

 Bad Weather  Traffic (Time)  Economic Recovery  Price of Tickets  Home Theaters FACTORS IMPACTING DEMAND

Some teams offer discounts:  New York Yankees offered half off tickets through Groupon  NBA’s Phoenix Suns offered a money back guarantee on tickets  Demand is going down, teams are offering cheaper tickets prices. HOW IS THE INDUSTRY RESPONDING?

However, a lot of teams are adding other incentives to make it a luxury experience:  Mini Theme parks, concerts, fireworks at stadiums  Offering sushi, gluten free and vegetarian food (Fancy salads)  Heritage Nights and Religious Nights HOW IS THE INDUSTRY RESPONDING?

TICKET PRICES ARE INCREASING S1 S2 D P Q

“The love of sports isn’t going away in this country but I do think the decline in attendance will keep happening…most people just don’t have that type of discretionary income anymore to spend on sports” FANS WOULD RATHER WATCH FROM HOME  Both the income and substitution effects are at play here.  People have less money to spend on sporting event tickets as the price goes up. (income effect)  As the price of going to a game rises, the relative price of watching from home (even if you were purchasing a new TV, hosting a party, etc.) falls (substitution effect) Watching from Home Attending a game

Have a winning team. Any Questions? THE ANSWER?