Last month, I wrote a post about how Yankee attendance is down, and blamed it on inefficient ticket pricing. Back then, attendance was bottoming out in the 41,000 range, and averaged about 42,000. A month later, and not much has changed:
The Yankees have sold the most tickets in baseball, by virtue of playing more home games than their competition, but are struggling to fill the Stadium as much as they are accustomed to. The Yankees sold 88.9% of capacity last season, 46,491 per game.
If the trend were to continue, it would have serious business and baseball implications for the Yankees. I still recommend a heavily-dynamic ticket pricing scheme, allowing the Yankees to drop prices and fill every seat in the Stadium. But that’s a previous post. I actually believe that attendance is about to turn around in a big way. Here is a chart of Stubhub’s lowest ticket price per series of upcoming games:
Compared with a similar graph that I created in the first attendance post, this looks a lot more robust. Only one series has rock-bottom prices (Pretty much every weekday series in April was in the $2-$5 range, and many non-Boston, non-Mets series now have pretty robust prices. Demand definitely seems to be increasing for Yankee games. Attendance should increase with it.
And on a side note, prices for Red Sox and Mets games have pretty much been cut in half. I’m sure there are a lot of reasons for this, but I like my explanation: Given fixed ticket prices, people were gravitating to games they consider higher quality, causing demand for Mets and Red Sox tickets to rise and for everyone else to fall. When the other games get more attractive (weather, school is out, etc), the Red Sox and Mets games prices fall. All the more reason to implement dynamic pricing.