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Ticket Price Elasticity: How high would you go?

Puck Swami

Puck Swami

New member
College hockey is generally a good bargain across the country, especially compared to NHL Hockey ticket prices. In some markets, college hockey is even priced roughly on par with movie tickets, and student tickets can be priced even cheaper than movie tickets.

My question is this - what would your price ceiling have to be for you to give up your current ticket package? Or if you currently buy indidividual tickets, at what price point would you stop buying? We are die hards here, but I wonder if some schools are leaving revenue on the table, or is the current price elasticity appropriate to the level of demand?
 
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Re: Ticket Price Elasticity: How high would you go?

Depends how crappy my team is doing at the time. I'm willing to pay more if the product on the ice is good.

Since tickets are normally $26 (ish), I guess I would go as high as $50 for a single game.

Season tickets are already out of my price range, so thats a non factor.
 
Re: Ticket Price Elasticity: How high would you go?

JF_Gophers said:
Depends how crappy my team is doing at the time. I'm willing to pay more if the product on the ice is good.

Since tickets are normally $26 (ish), I guess I would go as high as $50 for a single game.
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I would also pay at least up to twice what I am currently paying now for the quality of the games we get, and I pay a similar amount for Denver games as you pay for Minnesota games. My guess is that 1/3 of Denver fans think they are underpaying for tickets, 1/3 probably thinks they are overpaying and 1/3 probably think the tickets are priced correctly.
 
Re: Ticket Price Elasticity: How high would you go?

Puck Swami said:
I would also pay at least up to twice what I am currently paying now for the quality of the games we get, and I pay a similar amount for Denver games as you pay for Minnesota games. My guess is that 1/3 of Denver fans think they are underpaying for tickets, 1/3 probably thinks they are overpaying and 1/3 probably think the tickets are priced correctly.
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Do the 3 of you sit next to each other at games? ;) :D
 
Re: Ticket Price Elasticity: How high would you go?

The company I work for has season tickets and gives me tickets to almost half of the home games... I would be willing to pay considerable more than nothing:p
 
Re: Ticket Price Elasticity: How high would you go?

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Re: Ticket Price Elasticity: How high would you go?

Puck Swami said:
College hockey is generally a good bargain across the country.
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Not in Minneapolis. $35 per game (JF's number was in fact low).

For the donation seats, the minimum contribution is $700 annually - which makes those tickets around $60 per game (after accounting for the tax write-off).

People might gladly pay these prices if the team was on par with those between '02 and '07, but evidence is growing that people are abandoning ship after the late run of mediocrity. Somebody in the 900s on the waiting list for season tickets was apparently able to get some for this season - which shows a lot of people didn't renew their tickets and a lot of people on the wait list declined the opportunity to buy this year. That list normally moves about 20 spots per year.
 
Re: Ticket Price Elasticity: How high would you go?

Bakunin said:
Not in Minneapolis. $35 per game (JF's number was in fact low).

For the donation seats, the minimum contribution is $700 annually - which makes those tickets around $60 per game (after accounting for the tax write-off).

People might gladly pay these prices if the team was on par with those between '02 and '07, but evidence is growing that people are abandoning ship after the late run of mediocrity. Somebody in the 900s on the waiting list for season tickets was apparently able to get some for this season - which shows a lot of people didn't renew their tickets and a lot of people on the wait list declined the opportunity to buy this year. That list normally moves about 20 spots per year.
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$35 per ticket is about half the price of a comparable ticket for the Wild. Seems to me you guys are still getting a bargain...
 
Re: Ticket Price Elasticity: How high would you go?

Correction: the donation amount is only for new season ticket holders until the U changes its preferred seating system / donation amounts in a couple years. Even after it does that, accounting for the donations (revised downward), the average cost per game will remain high.

While "cheap" compared to the Wild, it's awfully expensive compared to the rest of college hockey. Unless the team starts dominating again, there is no way the school can justify charging these prices to its fans.
 
Re: Ticket Price Elasticity: How high would you go?

This year at the BREC, a season ticket for the mens hockey games is $325. A student season pass is $50.

The normal season ticket price puts each game at $20. I used to pay $30 or more at SCSU everytime UND, U of M, or a decent team came to town.
 
Re: Ticket Price Elasticity: How high would you go?

It's nerd time:

Technically, if ticket prices are elastic, I can just wait for them to come back down later.

I'm sure I'd be willing to pay more than face value right now for decent lower level seats at the Kohl Center.
 
Re: Ticket Price Elasticity: How high would you go?

ExileOnDaytonStreet said:
I'm sure I'd be willing to pay more than face value right now for decent lower level seats at the Kohl Center.
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Technically, season ticket holders between the blue lines pay significantly over face value for season tickets to Badger games thanks to the mandatory donations.
 
Re: Ticket Price Elasticity: How high would you go?

ExileOnDaytonStreet said:
It's nerd time:

Technically, if ticket prices are elastic, I can just wait for them to come back down later.

I'm sure I'd be willing to pay more than face value right now for decent lower level seats at the Kohl Center.
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Do they have to ever come down? Witness the NY Giants, waiting list doesn't move much and it doesn't seem to matter if the team is good or......just mediocre. :)
 
Re: Ticket Price Elasticity: How high would you go?

dggoddard said:
Technically, season ticket holders between the blue lines pay significantly over face value for season tickets to Badger games thanks to the mandatory donations.
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It's not as bad as you might think.

Some of my old Crease Creature crowd gets the Friday package, and this weekend, he claimed that with the donation, he only had to pay like $250/per for lower level seats.

The only caveat? They're within smelling distance of the benches.
 
Re: Ticket Price Elasticity: How high would you go?

MoFan said:
Do they have to ever come down? Witness the NY Giants, waiting list doesn't move much and it doesn't seem to matter if the team is good or......just mediocre. :)
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You were missing the nerdy engineering perspective on the use of the word "elasticity".
 
Re: Ticket Price Elasticity: How high would you go?

Puck Swami said:
$35 per ticket is about half the price of a comparable ticket for the Wild. Seems to me you guys are still getting a bargain...
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You can get a ticket to see the Bruins in Boston for $25.
 
Re: Ticket Price Elasticity: How high would you go?

Puck Swami said:
My guess is that 1/3 of Denver fans think they are underpaying for tickets, 1/3 probably thinks they are overpaying and 1/3 probably think the tickets are priced correctly.
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OK, this is a gross over-generalization, but if a third think the price is too high, a third would pay more, and the final third thinks prices are just right, doesn't that mean the price point has been pretty much hit upon?


Bakunin said:
While "cheap" compared to the Wild, it's awfully expensive compared to the rest of college hockey. Unless the team starts dominating again, there is no way the school can justify charging these prices to its fans.
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Perhaps not, but they will continue to charge it anyway. Ticket prices never really go down. Sure a team may lower the prices in a small section here or there of the worst seats, often using it as a marketing ploy, while maintaining the same overall average price for a seat. After 1 winning season between them in the last 15-20 years how much lower are the prices of tickets to see the Kansas City Royals or Pittsburgh Pirates play than they were 5-10 years ago?
 
Re: Ticket Price Elasticity: How high would you go?

MoFan said:
Do they have to ever come down? Witness the NY Giants, waiting list doesn't move much and it doesn't seem to matter if the team is good or......just mediocre. :)
Click to expand...

If they're still selling out every game, they can afford to raise the price of tickets some more.
 
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