AUSTIN, Texas--(EON: Enhanced Online News)--Qcue, the dynamic pricing engine for live entertainment events, today announced the San Francisco Giants have seen a 20 percent year over year increase in ticket sales for sections using Qcue’s dynamic pricing solution. Compared with 2008, overall sales in AT&T Park were up through the first 17 games of the season.
“To date, pricing has been a guessing game”
Traditionally, MLB ticket prices are set at the end of the previous season with little ability to adjust as market conditions change. As a result, seats are often left unsold, negatively impacting a team’s bottom line as well as the fan experience.
With Qcue dynamic pricing, teams can adjust ticket prices in real time to provide the best value for fans. Adjustments are based on key variables, from league standings, to opposing team, to real time sales. Since their season opener, the Giants have sold approximately 500 more tickets per game in sections using dynamic pricing than in 2008, which means more fans enjoyed attending a Giants baseball game thanks to Qcue’s broader range of pricing options.
“Qcue enables us to keep pace with market conditions by setting the right price at the right time,” said Russ Stanley, managing vice president of ticket services for the San Francisco Giants. “As a result, we are selling more tickets, increasing revenue and most importantly, getting more fans to experience Giants baseball. We are very encouraged by the rapid success of the program and look forward to a strong season ahead.”
Qcue has reinvented live event ticket pricing, combining computational analysis and external data sources to allow organizations to adjust pricing both up and down. During the first month of the season, the Giants saw price adjustments in both directions.
“To date, pricing has been a guessing game,” said Barry Kahn, CEO of Qcue. “Working with our partner Tickets.com, we bring science to pricing that is a win-win for teams and fans alike. While teams across all sports leagues are seeing sales decline, the Giants’ innovative approach is helping increase revenues, while enhancing the fan experience. Based on these results, and other positive feedback, we expect other teams to follow in the Giants’ footsteps.”
By enabling fans to purchase fair-priced, face-value tickets directly from a team’s box office, dynamic pricing ensures a more consistent, high-value experience safe from opportunistic scalpers and/or counterfeiters. As more entertainment options compete for fewer consumer dollars, preserving the fan experience is critical to ongoing business success.
Not just for sports teams, Qcue’s dynamic pricing solution helps organizations increase ticket sales across all categories of live entertainment – from sports, to music concerts and festivals, to the performing arts.
Qcue is reinventing the primary ticket marketplace with the world’s only dynamic pricing engine for live entertainment events. Sports teams, concert promoters and venues use Qcue’s patent-pending technology to set the right price at the right time and provide the best value for fans, from the date of on-sale to the date of the event. Customers and partners include the San Francisco Giants, Major League Baseball Advanced Media and Tickets.com. Founded in 2007, Qcue is based in Austin, Texas. For more information on Qcue, visit www.qcue.net.