In at least three meetings this summer, the conversation has shifted toward millennials and their ticket-buying/donation making tendencies. We’re a hot topic in lots of organizations, but most especially in high-culture art organizations. Arts Marketing Directors across the nation can be seen shaking their fists and crying “Where are you millenials???”
A June, 2015 article in the Sports Business Journal (no, don’t quit reading; there’s useful information to be had) details how millennials are putting traditional ticket strategies to the test.
The article highlights in particular where millennials are changing traditional sports event ticketing:
- More Mobile Platforms: huge percentages of millennials buy their tickets online or browse for events, so groups whose websites aren’t mobile friendly or don’t have a mobile strategy have had to get one quick.
- Non-traditional Ticket Packages: Yes, you can read that as “cheaper ticket packages”. Millennials are somewhere in between just entering the workforce and reaching peak earning years, so the cash isn’t always there for an event ticket. Sports leagues (and arts groups) have put together packages like 13 games for $89 or day of game tickets for $10.
- Customization of Payment: Perhaps the part most interesting to me was how some sports teams are offering flexible or year long payment plans. If your average subscription is $300, that’s a lot of money at one time; even a split payment plan of $150 could be a lot for a millennial. But, a 12 month plan? That’s $25/month which is easily manageable.
- Incentives to influencers: Sports teams are finding social influencers and offering discounts or perks, hoping they’ll persuade their friends to join them at an event. The article states, “where older consumers might buy a ticket for their spouse, children or a handful of work associates, a young influencer might pave the way for a group of five, 10 or even 20 friends to attend a game.”
Even though the article deals exclusively with #sports, it is worth a read. If you’re like my organization, you’ll get a chuckle when it says “For many teams, leagues and ticket sellers, the millennial audience represents a quarter to a third of their overall revenue base.” #ifonly