Could the NFL change its ticket pricing strategies in the future? That might be likely based on the extreme prices fans are willing to pay for Super Bowl tickets this year. New England Patriots and New York Giants fans are spending record amounts to ticket resellers to see the big game in person in Arizona on February 3rd.
StubHub (a division of eBay and the biggest online reseller of Super Bowl tickets) is seeing tickets go between $2,450 to $19,446 per ticket. Original prices for those tickets ranged from $700 or $900. Alternatively, RazorGator is selling ticket packages that include hotel stays for as high as $40,000. The NFL has taken notice.
NFL spokesman Brian McCarthy said, "It appears our face value is underpriced based on demand and what people are willing to pay." Could that be a forewarning that the NFL is ready to rethink its ticket pricing strategy?
One thing is for certain, ticket resellers are making a lot of money. Ticketmaster just acquired TicketsNow, who is one of StubHub's top competitors, for $265 million. You can bet the ticket reselling market will get even bigger with Ticketmaster in the mix.
What do you think? Will the NFL raise ticket prices? Should there be legal restrictions for ticket resellers or should they be allowed to price tickets based on what the market will bear?
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Tracked on: February 1, 2008 8:03 PM | Permalink to Trackback