Dak and I were both watching game 7 of the NBA Eastern Conference finals between the Miami Heat and our hometown Toronto Raptors. As the 4th quarter came to a close after a very satisfying win, we both knew we had to get tickets for the next round. After a few hours of trying to find the best deal, we got them. We spent $250 dollars on Raptors Playoff Tickets. Now while this was a massive impulse buy, it got me thinking. Was the price worth it? This got me thinking about how sports franchises leverage prices within their markets during playoff periods.
The average ticket price for a basketball game here in Toronto is anywhere between $50-$90 dollars give or take. Meanwhile, we got playoff tickets off www.stubhub.com for $250 dollars. That’s an insane mark up. I get that tickets sold on stubhub have prices set by the person you’re buying from, but tickets sold on www.ticketmaster.ca in “affordable” sections of the arena still go from anywhere between $240-$260 dollars.
So why are the tickets marked up so much? The experience. Companies like Maple Leaf Sports and Entertainment knows that this city loves its sports. This is evident from the plagued playoff series between the Boston Bruins and Toronto Maple Leafs a few years back. Sorry Leafs fans. But what also doesn’t help is that they are basically the monopoly of all major Toronto sports teams-Raptors and Leafs being the hottest commodities. MLSE knows that the playoffs are a time of excitement, energy, but most importantly: money. It’s moments like the one Dak and I had when we splurged to get tickets to the next game that franchises capitalize on. They know that we would pay a premium to be a part of a historic basketball season. Yes, it is incredibly expensive, but how can you put a value on the overall experience of a playoff game?
So after attending the game, I can openly admit that the market value of the tickets were worth it. The atmosphere, the crowd, and the energy were crazy enough for me to immediately recognize the worth of the tickets MLSE jacked up for us nicely. Overall the tickets did cost us a lot, and they were difficult to track down, but the worth of them goes beyond monetary value. Its definitely worth the heightened experience.
Malick Ba is an advertising and marketing specialist currently living in Toronto, Canada. His academic background includes a Bachelor’s of Arts in Communications with a minor in Sociology from the University of Ottawa. Currently, Malickworks at an advertising agency and is looking forward to how he can leave his mark upon the advertising and marketing world. Follow him on Instagram, and connect with him on LinkedIn.