An interesting tweet about the impact of Tottenham Hotspur stadium on the bottom line of the team.
£2 per person to £16 per person at 36,000 v. 62,000:
- Old White Hart Lane: £72,000
- Tottenham Hotspur Stadium: $992,000
That’s a £920,000 difference per match.
The easy answer would be better facilities, but you have to go deeper to get to the complete answer.
Let’s go through and look at factors that go just beyond a new stadium with updated facilities to see how we can use these things, even if we don’t have a new facility.
This isn’t comprehensive, but a few examples should get your thinking moving.
- The expansion of the retail store gave the team more dedicated retail space to sell shirts, jackets, hats, and other memorabilia.
- But it also allowed the team to have more variety of offerings as well.
- Europe’s biggest bar made it easier to get a pint, sure.
- But you also have a partnership with Beavertown to brew a beer, especially for Spurs on-site.
- There are more points of sale for food.
- But you also have a greater variety, enabling you to offer more fans something that will fit their tastes.
- Premium food and dining.
- It is the premium food and dining, sure. But you also have an elevated experience with better service, better atmosphere, and better quality.
The point is that a new venue makes this stuff easier.
It is also easy to rely solely on the NEW.
For a lot of us, the new isn’t possible.
We have to find ways to work within our current environment.
What does that look like?
- Is there a way to offer an expanded retail offering within the confines of your current footprint?
- I love the bands that have show specific posters.
- Sports teams have gotten in on this as well especially the Seahawksand Trailblazers.
- Theatres and performing arts groups should consider this specificity and partnership as something to put in their mix.
- Is there a local vendor or partner that you can work with that can help you expand your F&B offerings?
- Beer has been common lately.
- You could have a celebrity chef or bartender design a food or drink item.
- You could have a curated menu that is served only at one of your least utilized POSs.
- Do you have space that could be better utilized or that could offer an additional touchpoint?
- In nightclubs, we had these “beer tubs” that we could move around the building depending on foot traffic and expected attendance.
- Is that impossible in a lot of theatres? Arenas? Etc.?
- Maybe, but maybe not.
- Is that impossible in a lot of theatres? Arenas? Etc.?
- Is it possible to use more of the exterior of your building to create a feeling more attuned to a street fair or carnival?
- It may not work for every show, but it might work for some.
- In nightclubs, we had these “beer tubs” that we could move around the building depending on foot traffic and expected attendance.
A few years back, I put together a list of 101 ways to market, sell, and monetize your live events…then COVID hit.
A lot of this still works.
Give it a look.
Let me know what you are thinking re: finding new revenue streams once fans arrive?
This doesn’t even consider the special events. Reports were that Beyonce’s shows were bringing in over £5M a night.
Also, thanks for reading this far.
Do you know someone that would benefit from my PDF of ways to monetize their events?
Share this post!
Do you have a question about revenue? Relaunching your season tickets? Subscriptions? Or, giving program?
Send them to me.
I’m going to take some of your questions and put them in an upcoming episode of ‘The Business of Fun’ podcast.
Wednesday, February 7 at 11 AM Eastern, ‘First Wednesdays with Dave’ will focus on product launches, relaunches, and breathing life into old things.
Live Nation and Ticketmaster have been in the news the last few weeks:
The American Economic Liberties Project dropped a new report on Live Nation-Ticketmaster today.
BTW, I’m late to the party on actually watching Vice’s look at the secondary market and the furor around Taylor Swift on-sales from last year.
But…if you haven’t watched it, you should give it a look. A Tubi membership is free.
This companion piece that looks at the business ticket business is also informative.
I’ve also spent some time during the holidays reading two books on antitrust, monopoly, and competition that are interesting if you are into that kind of stuff:
All of these things are important to think through and know about as we start the year…
What does any of this mean to you?
It depends on where you sit in the ticket ecosystem.
We will discuss this more in an upcoming episode of ‘The Business of Fun’ and a copy of ‘Talking Tickets’.
What do you want to know?
Need to know?
Or, feel frustrated by and can’t mention it to anyone?
My interest in this continues to be built around the need for competition, innovation, and opportunity across the economy, not just in tickets.
It is a part of my career experiences, my undergraduate study, and interest.