After Rough Start To Season, Patriots Tickets Have Dropped 19% On Secondary Market
After a tough start to the season, Patriots fans are starting to get a little worried. Who wouldn't be worried after your team barely beats the Oakland Raiders?! The worrisome ways of the fans are shown by the decline in prices of Patriots tickets on the secondary market. For most regular fans of the Patriots, this might sound like a good thing since it will be less to buy a ticket, but it's not a good thing for the team, or for the diehard fans that just want to see their team win and do not care about the price of tickets. Through four weeks of the season, the season average is $292.83, compared to last year's season average of $363.83.
The interesting thing is that a similar occurrence happened in the Boston area during the baseball season. When the season started, Boston Red Sox tickets were one of the most expensive on the secondary market, but as the season progressed and the Red Sox weren't performing well, the average price of tickets dropped 18%. I find it very interesting that both of these things happened in the Boston area. It really says something about the Boston fans. If their team isn't doing well, they won't come out to support the team. This whole situation is kind of like the economic concept: People respond to incentives. In this case, it's not really an incentive that people are responding to, but more of an outcome. If a team is really bad and loses most of their games, people will be less likely to want to see the team play, so the team has to lower the price of their tickets so that people will buy them since they are pretty cheap. On the other hand, if a team is doing really well and is exciting to watch, fans will really want to go out to the stadium to see the team play, so the team is able to raise the prices because fans will be willing to pay more to see their team win. This can even be related to the economic concept of demand. If the demand for an object is really high, customers will be willing to pay more for the object because they really want it.
The Patriots organization better hope the team starts winning some games starting with their Sunday Night game tonight against the Bengals. If they don't, well..... just look at the Red Sox.
It is interesting to see how economics and football can be measured to see how sports teams are doing.
ReplyDeleteI can totally see how their sales were down. If you want ticket sales to be up for a franchise like the patriots you cant have the worst start to your season since 2003. It will kill your fan base.
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