Planet Money The sports ticket price enigma
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Dec 16, 2022 Despite rising inflation, sports ticket prices are dropping, prompting a day of fun exploring this mystery in New York City. The hosts witness the chaos of a Jets game and the unique atmosphere of tailgating, all while looking into ticket pricing dynamics. They delve into the pandemic's impact on attendance and pricing strategies, revealing the curious tactics teams employ. With a mix of humor and personal stories, they dissect the complex economics behind what fans are really paying for their beloved games.
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The Gobbler Classic
- Kenny Malone and Robert Smith attend a high school track meet, the Gobbler Classic, priced at $10 per person.
- This simple pricing model contrasts with the complexity of professional sports ticketing.
Birth of Modern Ticketing
- Modern sports ticketing originated with horse racing.
- A track owner built a wall, creating exclusivity and enabling charging for attendance.
Soggy Bottom Hypothesis
- Due to rain, Malone and Smith buy last-minute Jets tickets for $10 each.
- A fan next to them paid $76, highlighting the discount potential of last-minute purchases.