This is a preview from ‘Talking Tickets’ my weekly newsletter dedicated to the business of live entertainment. Get it free at www.talkingtickets.substack.com!
There were a lot of things this week about how sponsorships, ratings, and viewer consumption habits were already showing up for brands and organizations in sports business.
In the UK, we saw the release of a survey that showed that almost 20% of UK citizens won’t be comfortable returning to events until there is a vaccine for the coronavirus.
While I’m always dubious of how much a person’s survey response will actually relate to real lived experience, it is interesting to see the mention of socially responsible organizations gaining in customer perception as the pandemic continues on around the world.
This mirrors other examples of buyer preference after major events like the halo effect of Wrigley’s gum after World War I in the United States and other examples during other crisis events.
A few weeks back, I chatted with my friend, Brett Zalaski, about the future of sports business for about 2.5 hours. We posted about half of the conversation to the podcast stream and I wrote up a blog with some of the ideas we explored fleshed out a little bit more.
The thing here is that the business of sports business is changing in front of our eyes.
Will all of these changes be permanent or radical?
I don’t think so.
What I do think we are going to see come out of the pandemic is that folks are going to have found other things they like to do, corporations are going to accelerate the changes they were already making in how they were spending their entertainment budgets on tickets and a need for new revenue streams.
I mean, six months into this, I still have chatted with season ticket holders that haven’t heard from their sales reps or their teams outside of a standardized email.
So take that for what its worth.
Depending on where you in the ticketing ecosystem, you’re going to have to think about putting the customer first, driving demand, and finding new streams of revenue.