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| June 10, 2009 | Volume 8, Issue 1 | |
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Presented by
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GIANTS GO "DYNAMIC" IN TICKET PRICING |
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San Francisco Giants use "dynamic pricing" for selected seats at AT&T Park |
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CONTACT |
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Russ Stanley |
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ORGANIZATION |
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San Francisco Giants |
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PROGRAM TITLE |
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San Francisco Giants "Dynamic Pricing" |
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OBJECTIVES |
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Price variables are always an underlying issue when creating a ticket price schedule. Quality, competition, demand - all of these factors tie into what an organization will charge for its tickets. Unfortunately, many teams and organizations lack price control once their season begins because ticket prices are usually determined at the tail-end of the previous season. The result may often lead to empty seats and a smaller bottom line with the potential for diminished fan experience. But what if pricing decisions could be made in real time? |
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PROGRAM DESCRIPTION |
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To capitalize on ticket demand, or lack of ticket demand for specific single-game tickets, the Giants are utilizing Qcue dynamic pricing to adjust ticket prices in real time. Adjustments are made according to various factors, such as day-of-game ticket sales, division standings, pitching match-ups, weather, opponent, etc. This enables the Giants to set the right ticket price at the right time. The Giants' use of dynamic pricing affects 2,000 of the 42,000 seats at AT&T Park. The club implements the initiative for four sections in the upper deck of left field (1,200 seats), as well as three sections in the left-field bleachers (800 seats) that are typically the last to sell. |
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MEDIA |
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At the beginning of the season, the Giants held off on advertising the program because they wanted to make sure it worked. It wasn't until after a Giants media day and press release did local media outlets around San Francisco and the New York Times feature the Giants' new "ticket experiment". |
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| PARTNERS | ||
| Founded by Barry Kahn in 2007, Qcue is the world's only dynamic pricing engine for live entertainment events. Qcue allows teams and organizations to adjust ticket prices in real time, rather than relying on limited historical data and making pricing decisions months in advance. While Qcue generates a ticket price the Giants can use, official ticket prices are determined by the Giants' Managing VP of Ticket Sales, Russ Stanley and his expert ticket sales staff. Once single-game dynamic pricing tickets are set, they are made public by Tickets.com at the Giants' ticket office and on the team website. |
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RESULTS |
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Dynamic pricing on specific seating sections at AT&T Park has the Giants selling upwards of 20,000 to 25,000 more single-game tickets over the course of 81 regular season home games. |
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LOOKING AHEAD |
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The Giants are encouraged by the early success of the program, coupled with the positive feedback from fans and the media. If the dynamic pricing program remains successful throughout the remainder of the 2009 season, the Giants will look to expand the program to more sections where single-game tickets are offered. No official decision will be made until after the season. |
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ABOUT THE NATIONAL SPORTS FORUM |
THE NSF SALUTES OUR |
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For over 14 years, The National Sports Forum has been the largest annual cross-gathering of the top team sports marketing, sales, promotions, and event entertainment executives from throughout the broad spectrum of teams and leagues in North America. The 2010 NSF Conference and Trade Show will be held on February 1-3, 2010 in Baltimore, MD. Additionally, NSF attendees and vendors rely on the NSF Alumni Association as their key resource for up-to-date and accurate information about what's going on in the sports industry. Visit www.sports-forum.com or contact The National Sports Forum at (619) 469-4101. |
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