Millennials Put Ticket Strategies to Test
Thursday, July 02, 2015
SportsBusiness Daily (06/08/15) Fisher, Eric
Ticketmaster is leading the sports and entertainment industry in an effort to target the millennial audience. The company has been employing new techniques, including mobile-ticketing, social media platforms, and last-minute offers to reach out to the millennial audience. "This audience presents huge implications for our entire product road map moving forward, and how we service our customers," says Ticketmaster's Amy Howe. "It even influences our [merger-and-acquisition] strategy.” Several National Basketball Association (NBA) teams also have developed strategies to target the younger generation, including fluid seat programs and promotions for college students. "This is a very valuable audience, and obviously the future of our business,” says the NBA's Brendan Donohue. “But they consume content and consume live events differently. It's a unique audience that requires some nontraditional tactics.” Major League Baseball teams use the Ballpark mobile app, running mobile promotions that heavily target millennials. According to Ticketmaster, mobile platforms have proven most effective in reaching millennials, with more than two-thirds of millennials using their phones to purchase tickets. Meanwhile, venues are redesigning their facilities to attract younger fans, including adding new gathering areas, party decks, and improved Wi-Fi connectivity. Ticketmaster and other companies also offer more discounts and low-cost programs to millennials, who tend to earn and therefore spend less than older generations. They use these discounts to target and form relationships with influencers, or consumers who have wide social networks.
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