It’s going to be a little more expensive to take a trip to Broncos country.
In the first offseason under new ownership, the team will increase season ticket prices about seven percentAccording to Parker Gabriel of Denver Post.
The apparent objective is to increase the primary price to reflect the value in the secondary market. Last year, tickets to Broncos games sold for nearly 40% more than the average season ticket price.
“This lost potential income [to secondary ticket brokers] could ultimately be reinvested not just in the football, but in the fan experience,” Gabriel Marc Jackson, Broncos vice president for ticketing, sales and service, told Gabriel Marc Jackson. “Really what we’ve been trying to do is think about how we can get some of that back.”
Team president Damani Leech explained the increase in an email to season ticket holders.
“Our 2023 season ticket prices reflect the additional regular season home game as well as a comprehensive review – conducted with third-party analysis – of the local and league ticketing landscape,” Leech wrote, via Gabriel. “We remain focused on providing a variety of pricing options for you based on fair market value while ensuring we are competitive with other NFL teams.”
The Broncos had a 98% season ticket renewal rate in 2022, buoyed by the hiring of a (yet) new coach and the promise of a new quarterback. The arrival of Sean Payton to coach the team should push the number even closer to 100%, despite the price hike.
Although some fans complain about the rising price of subscriptions, in an age of legalized scalping, it’s a good idea to look for ways to reduce the middleman’s margin. If the market sets the price and the original price is too low, whoever buys and sells will get a windfall.
If the end consumer will pay much more than the face value to buy the ticket, why shouldn’t the face value be higher?