How the price of a super bowl ticket has skyrocketed?
As of Feb. 1, USA Today reported that the average Super Bowl LVI ticket at SoFi Stadium in Los Angeles was heading for $10,237. In the run to Super Bowl LV, which became the most overpriced Super Bowl ever, it was over double the average from the exact time a year prior. It’s not always only the richest individuals and larger organizations who could afford a ticket to the biggest annual gathering in American sports as well as television. In reality, it wasn’t until around 10 years ago that items truly started to get out of hand. According to a Feb. 7 Yahoo News report, Bengals’ front-row tickets behind the panel were auctioning for a record-breaking $62,095 each. Just $52,829 will just get your tickets in a VIP area on the 50 while behind the Rams bench, just 14 rows back. ..
The Super Bowl was once a treat, but now it’s considered an extravagance
The Super Bowl has been a popular annual event for many years, with tickets typically costing less than $100 in today’s currency. The event has been held in different locations over the years, but it is most commonly held in New Orleans. The average price of a Super Bowl ticket hasn’t exceeded $2,000 since 2015.
The Super Bowl has been a huge success for the NFL and its fans. The game has been televised around the world, and tickets have become increasingly expensive. This is because people are now able to attend the game even if they can’t afford to buy a ticket.
History of the Super Bowl tickets prices
Super Bowl LVI is set to be a highly anticipated event, with over 100 million people expected to tune in. The game will be contested between the Los Angeles Rams and Cincinnati Bengals, and will be broadcast on NBC. ..
PredictHQ, a data analytics firm, expected that perhaps the game might attract 117 million viewers, surpassing the old record of 114 million achieved in 2015 by Tom Brady as well as the New England Patriots faced the Seattle Seahawks. Some fans could perhaps turn up to catch the actual football game instead of drifting away until the now-customary marketing push. In the 2022 game, a 30-second advertisement will cost $6.5 million, an increase from 2021’s $5.6 million for positions. Companies could run an ad spot in the opening ceremony of the Super Bowl, which was broadcast on January 15, 1967, for $37,500 or $320,457 in 2022 dollars.
In 1987, the University of Arizona Symphonic Marching Band took to the field as the halftime show’s central focus in the opening ceremony of Super Bowl XXI. Twenty years later, in Super Bowl XXIII, Grambling State University, USC, and other universities collaborated for the halftime show. Two years later, Super Bowl XXIII featured an Elvis Presley imposter named Elvis Presto. This marked a downward spiral for halftime entertainment and advertising. The Super Bowl didn’t start to develop into the business it is now until the middle of the 1990s.
High demand occurrence to surging Super Bowl ticket prices in 2022
The Super Bowl is typically in great demand, however, this year’s game seems to have the Rams in their home stadium, fervent Bengals supporters traveling in from Cincinnati, and there have been no attendance restrictions for the first time in over two years. While the typical cost of the tickets purchased on the site was around $6,500 in 2022, the “get-in” cost for a seat on StubHub fell to just below $4,000—outrageously premium costs which left most fans in price hikes. As per Federal Reserve Economic Data, the average U.S. salary in 2019 was just beneath $52,000. This implies that match tickets, in relation to transport, parking, meal, and beverages are entirely beyond the price point for the typical American household. Most of the purchases are being generated by California residents who acquire over 50% of all premium tickets.
Conclusion
The Super Bowl is one of the most widely viewed sports in the world. Millions of people watch it on television. Commercial interests mainly purchase tickets for such an event. Both supply and demand probably create price. If one could purchase tickets to the Super Bowl since the NFL owns the tickets and the majority are provided to each of the NFL teams. In fact, the teams involved are given a bigger share, followed by host team and every other team, each of whom earns a very small share. About 70% of all tickets are composed of each team’s share. The rest is now under NFL office management. Seats supplied by NFL will be utilized by personnel, company, and commercial partners as well as other VIPs ..
