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SBD/April 28, 2011/Franchises
Predators See Jump In Postseason Ticket Revenue Due To Dynamic Pricing
Published April 28, 2011
The Predators reported a 30% increase in ticket revenue after launching dynamic pricing for NHL playoff tickets. Dynamic pricing adjusts single-game ticket prices through computer analysis of factors including team performance, opponent, weather, day of the week and gate giveaways. The Predators’ increase in revenue compares with ticket sales without dynamic pricing in effect. The Predators adjusted prices to meet demand for about 4,000 tickets available for three first-round playoff games against the Ducks after the NHL announced the matchup. With the exception of a handful of seats in the first two rows behind the glass, most dynamically priced seats sold in the arena resulted in a 10-15% increase in ticket revenue compared with ticket sales without the new technology. All three games sold out. The Predators last year fell 700 seats short of a sellout for their first playoff game. “If there was an area we could push people toward to buy tickets, that’s what we did,” said Predators VP/Ticket Sales Nat Harden. “For example, if we had an upper-level seat priced at $50 in a section filled to 50% capacity and there was a second-level seat below for $60 in a section at 90% capacity, we increased those second-level seats by $10 to migrate people to the upper-level seats. It helps control where people are buying tickets.” For their second home playoff game, the Predators sold four seats available in the front row in the lower bowl for $750 apiece after initially setting the price at $250 before the team’s opponent was determined, Harden said. The Predators have already increased prices 10% in four categories over their original prices for the team’s second-round series against the Canucks. Games 3 and 4 of that series are set for Tuesday and next Thursday at Bridgestone Arena. The playoffs mark the first time the Predators have used dynamic pricing after the team signed a deal with Texas-based technology firm Qcue.