Professional sports are facing a unique time right now. The cost of attending a game is rising, while fans are less willing to pay the higher prices. Which begs the question “Why do people still attend sporting events when they already pay for the channels to watch them on tv?” For simplicities sake, I will use Major League Baseball figures for comparison. According to the Fan Cost Index, the average family of four can attend a average MLB game for $212.46. This includes 4 tickets, 4 small sodas, 4 hot dogs, 2 beers, parking, 2 programs, and 2 adult sized caps. Granted this is a league wide average, and some teams cost more, and some teams cost less, but on average you have to fork over two hundred dollars to see a baseball game.
There are many costs, and benefits to attending a professional sporting event. The biggest cost is paying for the tickets. Tickets can have a huge range of prices, from under 10 dollars, to over 200 dollars. That’s only through official figures from the team’s, and the league. If you don’t want to pay that much, you can purchase the tickets on the “Black Market,” which is when tickets that are not gonna be used are resold illegally, sometimes for more or less than face value. Some tickets sold like this are fake, or counterfeit, meaning that you willl not get let into the stadium. Then
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if you attend sporting events on a regular basis, you may not have as much money as you need for expenses, which could mean you need to start skipping sporting events, or at least cutting down on events you go to. The average ticket price for Major League Baseball is around $210. which is approximate to groceries for an average family for a week. If you attend just a few games here and there, then you will not have a problem. But if you consistently pay a lot of money for tickets, you may start to realize that you; are low on money for necessities, like food or
Ever watched ESPN and seen a report about a baseball player signing a five year contract worth 150 million dollars? Now, with a little math, one would come to realize that that contract means that baseball player will make a bit less than 30 million dollars in that five year period. That is ridiculous. Why do professional baseball players as well as professional athletes in general make so much money just to play a game that little kids play to stay out of trouble? It is because people pay them to play, athletes unions that, for a large part, are used to force team owners to pay them such a high salary, and businesses pay them to advertise their products.
Attendance at sporting events can be affected by many different factors. One factor that affected Major League Baseball (MLB) was the economic crisis that started in late 2007. In a study conducted by Hong, Mondello, and Coates (2013), they investigated how the economic crisis affected attendance in MLB during the 2008 and 2009 seasons (p. 140). In the 2009 season, the average attendance dropped 6.77% below what it was in the 2008 season (Hong et al., 2013, p. 140). Da...
Baseball remains today one of America’s most popular sports, and furthermore, baseball is one of America’s most successful forms of entertainment. As a result, Baseball is an economic being of its own. However, the sustainability of any professional sport organization depends directly on its economic capabilities. For example, in Baseball, all revenue is a product of the fans reaction to ticket prices, advertisements, television contracts, etc. During the devastating Great Depression in 1929, the fans of baseball experienced fiscal suffering. The appeal of baseball declined as more and more people were trying to make enough money to live. There was a significant drop in attention, attendance, and enjoyment. Although baseball’s vitality might have seemed threatened by the overwhelming Great Depression, the baseball community modernized their sport by implementing new changes that resulted in the game’s survival.
...movie, videogames, college and amateur sports, and eating out. As the price of attending a basketball game continues to rise teams need to offer motivations to fans, for example family and season ticket packages, to make game attendance more interesting for entertainment seekers.
Spending big money on this one game seems to be no problem for the NFL or corporations that sponsor the game itself or spend money on the commercials. The average person who watches the game also spends time preparing for this event but hardly in the same manner. The average person could not even afford to attend this game according to the article “How much is The Cheaptest Ticket to Super Bowl 50?” by Jonathan Adams the cheapest ticket was $3,148. According to, the United States Census Bureau the average household income in 2014 was $53,482 which is the households that view the Super Bowl the most. That is far less than what the average NFL player makes. According to the article, “The NFL is Last Among the Four Major North American Sports in Average Player Salary” by Jason Lisk the average NFL player makes $2.11 million. This is only an average of what these players make. The top players make the most
First and foremost, nowadays attendance rates amongst professional baseball games can be in the thousands. When that many people are grouped together, the
The Fan Cost Index (FCI) is a statistic used to measure the average cost of a family of four to attend a sports event. Included in this statistic are the average ticket price for four averaged priced tickets, four hot dogs, two small beers, four small soft drinks, parking for one hour, two hats and two game programs (Greenberg, 2014). The FCI for the NBA during 2015-2016 was just over $339. The NBA has the third lowest FCI of the four major professional sports in North America. Only the MLB was cheaper.
There is many pieces of evidence of why travel sports are necessary. One reason why some people think that travel sports aren't necessary is the cost to play. The cost to play travel sports ranges from one thousand dollars to five thousand dollars. This does not include cost of gas to drive and sometimes hotel fees. This is very important because if a family has more than one child and still has to pay for their house, food, and other important needs. This can be a struggle for many families who get paid low income. Another reason why some people agree that travel sports are not necessary because of time. Time is hard to manage if their parents work. Sometimes parents have to cut and get off of work just to go bring their kid to practice or a game. Many people think students should just play school sports and stay after school so they can be picked up at the right time and there will be no issues. Although those reasons suggest why travel sports aren’t necessary there are many people who suggest why it is the two reasons explained above are why people think travel sports are not necessary. When thought about though parents will end up paying less if there child gets a college scholarship. These college scholarships are worth thousands of dollars and will actually end up saving parents money because even though they have to spend money on gas and the sport the scholarship basically covers
For the 2019 major league baseball season, the New York Yankees should employ the dynamic ticket pricing strategy in order to essentially maximize on the overall excitement generated by both the fanbase and sports media outlets due to the influx of premier talent that has worked to transform a rebuilding franchise into a legitimate championship contender within the league as well as the favorable perception of the organization throughout their history of success. The dynamic ticket pricing strategy is a unique approach that ultimately work to increase the organization’s potential revenue streams due to the fluctuations in price based on the supply and demand for the product. Through this specific strategy, the organization would be able to
...00 dollars. Would there be the same amount of competition and would the sport be as enjoyable for these athletes to play. Not to mention that by going to sporting events we are condoning the payment of these athletes. Now I am a HUGE sports fan as most of you might know. I also am in the sports broadcasting business and I have my own company covering Philadelphia sporting events. That means that I go to games on a press credential and do not line the pockets of the owners and thus the players with my hard earned money. In fact If I was not in the sports broadcasting business, the chance I would attend these games and pay these ludicrous prices that would ultimately lead to these preposterous salaries is highly unlikely. In closing, today I have shown how the amount of money athletes make is unethical to our society. I have given proper examples of criteria that is backed up by proof. I have stated my claim and my case for the subject and have given reasons why I believe athletes salaries are ridiculous. Children of ours should not grow up and think that all they have to do is drink milk to be like Mike or wear Kobe’s shoes to attain his success, rather they must earn it instead.
Advocates for stadium subsidies also claim less quantifiable positive externalities, such as civic pride and fan identification, so that hosting a major sports team becomes something of a public good. Local sports fans enjoy the benefit even if they do not pay for it.[6][7]
There are many sports fans around the world that are dedicated, passionate, and unwavering in their support of their favorite team. Those fans are called dedicated fans. Dedicated fans watch and pay attention to every game of their teams. Some of them try to go to as many games as they can to support their teams. For example, my former English teacher loves the New York Mets. He makes sure he watches every game regardless of the time. Another example is someone who may travel to watch their team. The Chicago Cubs are a baseball team, and the famous actor Bill Murray goes to as many games
A recent article in Readers Digest estimates that most Americans spend at least 13% of their income on sporting events and sport related products. Sports has entertained American people and drained money out of their pockets making sporting events an arena of pure economic activity. It has been proven that Americans will purchase tickets to attend sporting events, but this alone does not create enough revenue to keep sports teams profitable.
2008 financial data is provided by Statistics Canada, the Travel Survey of Residents of Canada and the International Travel Survey in this study. Online purchase of tickets helped to track the geographic identity of the buyer, but walk up ticket sales disabled to track the identity of the purchaser. The online ticket purchasers belong to Alberta residents excluding Grade Prairie residents, Canadian residents excluding Alberta residents, Alberta residents including Grade Prairie residents, USA residents and International residents excluding USA residents. The event lasted for 7 days. The assumption made that 40% spectators were from Grande Prairie and the near by area in the study, did not stay overnight. Athlete costs, volunteer expenditures, and capital expenditures are not included in the study (Event Analysis and Economic Impact Study 2010).
A young boy goes up to his mother and says, "Mommy! I want to be a baseball player!" If this was said in 1930, the boy's mother probably would have told the boy, "That's not future for you! You need to get a real job and make good money." If this was said in 1999, the boy's mother probably would have said, "Let's go to the store and buy you a baseball glove so you can start to practice." It is visible to every sports fan that in the past few decades, sports has undergone a whole new renovation. It isn't just an activity that is played for fun. It is a business in which owner and players attempt to coincide. It is a business where TV controls fan interest. It is also a business that affects many people's lives, both monetary and living aspects. There are many aspects that are involved with the economics of sport. Each one having unique qualities that adds to the greatest source of entertainment.