The Recession Has Hit the Red Sox

The Boston Globe has a great article on parts of the current economic state of the Red Sox, who have been one of, if not the most successful teams in recent years.

Ticket sales are down.  The Red Sox are currently riding a 469 consecutive game sellout streak that could end this month.  There are still seats available for most April home games and for about 30 games this season.  Sales of the premium hospitality suites are also down this year.

Sponsorships also took a hit.  The Red Sox lost a six and seven figure deals with PC Connection and Nikon respectively.  Local sponsors Filene’s Basement and Cambridge Eye Center also pulled out, while DHL and Bano America scaled down their deals.

The slump has also affected neighborhood businesses.  The secondary ticket market has taken a huge hit.  Local broker, Ace Tickets, reports about a 40% drop in ticket prices for Opening Day (the Red Sox held ticket prices steady this year).  The Howard Johnson Inn, which sits across the street from Fenway, usually sells out for Opening Day, but is only about 60% filled this year.

I think that the worst news for the Red Sox is actually the fact that their television ratings dropped 20% from 2007 to 2008, and the pregame show on NESN dropped by 33%.  That tells me that in addition to the economy, which should turn around, the Red Sox are facing a decline in passion among the fan base.  Watching TV is free so the declining ratings can’t be blamed on the economy.  The Red Sox had a good team last year – they made it to within a game of the World Series and they were the defending champions.

The Red Sox have been the best run team in baseball in the past few years on and off the field.   And even as that has been the case, fan interest waned significantly last year and seems to be down even more this year.

All that said, the Red Sox are still in much better financial shape than most teams and their ticket sales still dwarf most teams.  It’s far from panic time in Boston, but you can be sure the team is aware of the current trends and is at least a little worried.

Griffey Signing Helps Mariners Sell Tickets, Excites Local Businesses

The Seattle Times reports that local businesses are excited  about the return of Ken Griffey Jr.  One local memorabilia shop is so optimistic that they have actually raised the prices of Griffey-related memorabilia.

Local businesses will be especially happy to know that the Griffey signing led to a boost in ticket sales.   Within two days of the announcement on February 18 that Griffey was returning, the Mariners sold 23,000 tickets in full and partial season ticket packages.

Wrigleyville Rooftop Owners Trying to Sell Season Tickets

Over the past twenty years or so, the owners of buildings across the street from Wrigley Field have been increasingly aggressive in selling their unique access to the goings on inside the stadium.  What were once places where neighbors hung out and watched the game have turned into rooftops with large bleachers that hundreds of people pay well over $100 apiece to watch the Cubs game and eat and drink unlimited amounts of food and alcohol.

Now, one of the rooftop owners, is adding something new: partial season tickets.  Skybox on Sheffield, perhaps the most over-the-top rooftop facility, is offering people the chance to buy 12-game packages this year.  At a cost of $145 per person per game, buyers can go on the roof for any two games in each of the six months of the baseball season.