(I-BusinessNews.Com, November 19, 2018 ) Sports event organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Customers can buy and validate the tickets for any sporting event through their smart phones and will get updates regarding the event. Mobile ticketing reduced the costs associated with paper-based ticketing channels. It provides the organizers with customer and fan database exchanged digitally through ticket transactions to formulate marketing strategies. For instance, Barcelona implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones gain access to matches.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL SPECTATOR SPORTS MARKET AT $266 BIILLION IN 2017
Western Europe was the largest geographic region in the market, accounting for nearly one-third of the global market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, sports organizers or team franchises are using analytics to boost their revenues. Analytics involves generating insights from historical data to predict potential trends and analyze the effects of certain decisions or events. For instance, sports franchises are using analytics to determine the pricing of tickets through variable pricing and dynamic pricing. In variable pricing approach, team franchises use analytics and charge different prices for the same seat depending on the game. In dynamic pricing approach, team franchisers consider factors such as, team performance, day of the week, stage of the tournament (group match, semi-final or final) and determine the price of the ticket.
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Dallas Cowboys was the biggest player in the spectator sports market, with revenues of $1 billion in 2016. Dallas’ growth strategy focuses at maximizing media rights, engaging sports cape and maintaining public private partnership.
The spectator sports market includes Sports Teams and Clubs, Race Tracks and Other Spectator Sports. Sports teams and clubs are professional or semiprofessional teams or clubs which primarily participate in live sporting events before a paying audience. Race tracks include establishments involved in operating race tracks. Other spectator sports include independent athletes who primarily provide specialized services to support participants in sports events or competitions.
Spectator Sports Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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