By Jim McCarthy Apr 29, 2009 0 comments

We May Have Found the Limit…

The New York Yankees very ambitiously set prices in some of the seats in their fabulous new stadium at $2,500 a piece, but that appears to be a thing of the past.  Key tidbit:

“Twelve days after opening their new stadium, the Yankees on Tuesday bowed to the sour economy and the specter of empty seats by slashing in half some of their top-end, $2,500-a-game prices.”

As you know, I’m as bullish as anybody on the value of Live Entertainment, but I think the Yankees have done the whole industry a service:  finding the outer limit of prices people will pay.

And it’s somewhere below $2,500 for a single (admittedly awesome) ticket to a single baseball game.

Honestly, blame the economy if you will (and why not?), but I’m not convinced the market was prepared to absord $2500 tickets 81 times a year in the same venue at any point. Well, maybe for a couple weeks in 1999.

Still, even at $1,250, that’s a lot of “value capture.”  It will be interesting to see how they do at that price!

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