Drop In Football Ticket Sales Major Cause Of Ohio State's '19 Deficit
Ohio State's operating deficit in FY '19 came as its "biggest moneymaker when it comes to athletics" -- football ticket revenue -- "took a nosedive," according to a new financial report cited by Hayleigh Colombo of COLUMBUS BUSINESS FIRST. After bringing in nearly $59.4M in revenue from football tickets in FY '18, the school "brought in just about" $50.6M in FY '19, "about a 15% drop." Ohio State Associate AD/Football Communications Jerry Emig said that the school "saw a 5% drop in attendance" during the '19 season. Colombo noted that decrease "follows a national trend." Emig said that the university is "hoping to turn the tide by making a conscious decision not to increase ticket prices." Emig also noted that the school has "introduced 'mini-plan' ticket packages, which it will offer again this year." Colombo noted football ticket sales "make up nearly 85% of the department's overall ticket sales total." Meanwhile, the department had $220.6M in expenses in FY '19, a higher total than FY '18, which "caused it to end the fiscal year in the red overall" (BIZJOURNALS.com, 2/19).