Following lockout, NBA raises ticket prices. Nice.
We knew the NBA owners were greedy — it’s why we are watching a condensed 66-game season. (The players deserve blame here, too, they also chased the dollars with this schedule.) The owners didn’t want to lose gate revenue or have to refund a lot of money to their sponsors and television partners so they crammed in as many games as possible.
And they raised ticket prices for those games.Lockout and recession be damned, the NBA is charging more now than every for tickets, reports the Associated Press.
The NBA’s average ticket price increased for the first time in three years, up 1.7 percent to $48.48, the Team Marketing Report said Wednesday in its annual survey.
New York Knicks’ tickets cost more than double the league’s average and five times as much as seats for the Memphis Grizzlies. Knicks tickets averaged $117.47 after a 32.5 percent increase - and these figures don’t even include premium seats…TMR’s Fan Cost Index for the NBA, which includes four average-price tickets, two small draft beers, four small soft drinks, four hot dogs, parking, two programs and two adult-size caps, averaged $301.46 for the league, up 4.5. percent.
It’s supply and demand, and people are paying it. That’s business. Just rememeber that it is a business and, as the lockout proved, the owners are out right now to get every penny they can. Good PR, what’s that?