NBA Taking DESPERATE Measures As Fans Move On
(FeaturedNews.com) – The NBA is hemorrhaging viewers while, at the same time, raising prices. A report from the New York Post shows that the league is having issues that may make for an uncertain future. As attendance drops in the arenas and on television, some teams seem eager to make up for the losses by simply raising ticket prices.
The Golden State Warriors, for example, showed a 19% increase in gate revenue from this year to last, while attendance was down just over 11%. The NBA average ticket price rose to $109, a 10.2% increase from the last pre-pandemic season.
NBA Teams Raise Ticket Prices as Attendance Declines
The NBA has blamed the drop on "the Omicron wave"https://t.co/Bg2NLC7eiF
— National File (@NationalFile) May 11, 2022
Closing the profit gap in attendance with ticket sales may solve the immediate problem, but decreased attendance and viewership levels may also interfere with upcoming TV contracts. NBA Commissioner Adam Silver is seeking a new 9-year, $8 billion per year deal to keep the television revenue going. The Post reported the NBA gets 70% of its revenue from media contracts.
The league blames its attendance woes on the COVID-19 pandemic, with spokesman Mike Bass citing the Omicron variant as a driving force behind the low numbers. However, that doesn’t explain the reported drop in television ratings. Bass seemed eager to talk about a recent string of sellouts in April, but he didn’t elaborate on the future of professional basketball.
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