If you are in the sports, media, or entertainment industries and are struggling to understand how to accurately set ticket prices to maximize profitability, then check out our Ticket Market Pricing solution.
Axis has developed an application that looks at resale data and compares this with regular sales data to determine the true market value of tickets and how it differs from their sale price. By analyzing the secondary resale market sales points, organizations can begin to understand the ‘perceived value’ of the tickets by the fans and could be leveraged to adjust pricing to maximize profit margin or sales volume.
Here are some common metrics we look at:
- Number of tickets resold
- Average resale value
- Total Resale value
- Average percent difference between resale value and single game value
- Management can use the solution on an annual basis to determine the strategy for next season pricing
- Use historical data of resale market performance before an event to optimize what promotions are offered 90 days out, 60 days out, 30 days out, etc.
- Maximize profit by closing the gap between the price of a ticket on the resale market and the price being offered by the organization