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Cleveland Cavaliers Are Hot on the Business Side

Thursday, December 5, 2013   (0 Comments)

Crain's Cleveland Business (11/03/13) Kleps, Kevin

The Cleveland Cavaliers are rebounding from low attendance during their past two seasons thanks to revised season- and single-game ticket strategies, with single-game sales for the 2013-2014 season having already surpassed the season total from all of last year. Single-game ticket sales were split into two stages for the first time last season, with the Cavs saying the move was motivated by historical data. The trend was that during the initial preseason selling period, a significant portion of single-game tickets for contests that occurred in the second half of the season were purchased by ticket brokers and other ticket resellers. The team thinks delaying single-game sales for contests played in the last half prevents other brokers on the secondary market from grabbing most of the available seats for the marquee dates on the schedule. In addition, the Cavs say group deposits, for purchases of 20 tickets or more to a single game, have climbed 200 percent over the same period in 2012, while renewals among existing group buyers are up 5 percent versus the same period in 2012. The Cavs also have embraced a new engagement strategy to boost their season-ticket base with the January launch of Wine & Gold United, a membership club for season-ticket holders that features VIP events, "chalk talks" with members of the front office, and other incentives.

 

 

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