http://www.rantsports.com/nba/2013/04/19/nba-playoff-ticket-prices-not-as-predictable-as-you-might-think/
The article isn't exactly eloquently written, but the graph provided is very interesting. There is a huge variance between teams and venues as far as ticket prices for so-called "vivid" seats. A vivid seat at a NY Knicks playoff game, for example, is nearly $400 while the same seat at an Indiana Pacers game is around $75. The Lakers, who are the lowest seed in the Western Conference, posted the second-highest ticket price at around $250. Ticket prices seem to correlate with a few factors: strength of team, population of city, and popularity of basketball in city. Oklahoma City, for example, doesn't have a huge population, but it has a very good team and is a so-called "basketball city." The fact that NBA ticket prices are so volatile shows the importance of socioeconomic factors in pricing.
Playoff tickets are obviously going to be a hefty price, but it depends what market you are. The New York Knicks will obviously have high ticket prices because it is a heavily populated city with a large following, including many celebrities. Going to a Knicks game is going to a star studded affair. They are one of the best teams in the NBA and they are in such a large market. Socioeconomics is a major factor in sports. Large cities usually have very good sports teams because they produce enough revenue to afford big name players. The placement of the product is very key for the success of a team and its owners. Having a strong team and being in a populated city will create a strong product and that is what the LA Lakers and NY Knicks are.
ReplyDeletePricing has always been an important issue. From an economic point of view, it depends a lot on demand. For example, if the team is performing well then more people are going to want to see them play which in turn pushes the price up.
ReplyDeleteFan base and population are both largely taken into account when discussing basketball ticket prices. The teams that are performing the best have a large fan base and the city has a large population will usually see very high ticket prices compared to other teams. NY and LA are both examples of where this occurs. High demand for tickets will lead to a high price in tickets.
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