Improving Your Venue’s Yield by Emphasizing Value
August 30, 2021
The past 19 months have been some of the most disruptive in the history of sport, but they have also reminded us just how valuable a live event can be. Early in the COVID-19 pandemic, nearly one in six American adults reported live events as the outing they missed most, more than double the number who longed for their weekly happy hours. Despite fans telling us time and again that they value live experiences, properties are reluctant to revise ticket prices for fear of angering their buyers. This stagnant approach to pricing leads to chronically undervalued inventory and lost incremental revenue. Properties who neglect to analyze pricing regularly even see more empty seats in their venues as they fail to identify a market-appropriate price floor. Worst of all, this business as usual approach reinforces the misconception that price and value are synonymous.
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