PSL Pricing/Seat Selection Discussion

[WotAGuy]

9 minutes ago, K-9 said:

Simple economic dynamics. What percentage of total PSLs sold did that 20,000 represent? Did the lowering of those 20,000 PSL prices cause the Jets to lose revenue or simply not generate as much as they wanted? The team wasn’t hurt in the least from what I can gather. 

“Higgins said the team was sending an e-mail Friday to alert fans of the reduced prices in the $1.6 billion stadium. Lower end-zone seats will be dropped from $5,000 to $2,500, as will those in the mezzanine end zone. Seats in the lower-sideline section will be cut from $15,000 to $10,000.”

 

Those are 2010 prices and given how long ago that was, those do seem rather steep, given the Bills are apparently changing similar amounts 14 years later. So the Jets may have overestimated the demand at those prices. Also, this is back when there were TV blackouts if the stadium wasn’t sold out 72 hours before the game. 
 

https://www.cnbc.com/amp/2010/06/11/ny-jets-cut-prices-for-some-personal-seat-licenses.html

[Einstein]

46 minutes ago, papazoid said:

can you imagine the outrage finding out someone next to you paid less

I can imagine! It's exactly what the Jets did. And the Falcons. And the Raiders.

Although the Raiders (to their credit), ended up reimbursing the fans who paid more at first.

 

 

Edited April 8 by Einstein

[papazoid]

3 minutes ago, Einstein said:

I can imagine! It's exactly what the Jets did. And the Falcons. And the Raiders.
 

 

maybe the bills are trying to avoid that situation....

 

and that is why they haven't announce PSL pricing ahead of time for every section.

 

depending on how they do in the center section(s) between the 40 - 50 yard lines,  may make them raise or lower what they thought they would do for sections  between the 30 -40 yard lines.....and so on

[WotAGuy]

11 minutes ago, Einstein said:

I can imagine! It's exactly what the Jets did. And the Falcons. And the Raiders.

Although the Raiders (to their credit), ended up reimbursing the fans who paid more at first.

 

 

The Jets also refunded the difference to 9,000 PSL holders who had already purchased in the reduced price sections, per the article I linked. The reduced price was for 9,000 unsold seats. 

[K-9]

27 minutes ago, WotAGuy said:

“Higgins said the team was sending an e-mail Friday to alert fans of the reduced prices in the $1.6 billion stadium. Lower end-zone seats will be dropped from $5,000 to $2,500, as will those in the mezzanine end zone. Seats in the lower-sideline section will be cut from $15,000 to $10,000.”

 

Those are 2010 prices and given how long ago that was, those do seem rather steep, given the Bills are apparently changing similar amounts 14 years later. So the Jets may have overestimated the demand at those prices. Also, this is back when there were TV blackouts if the stadium wasn’t sold out 72 hours before the game. 
 

https://www.cnbc.com/amp/2010/06/11/ny-jets-cut-prices-for-some-personal-seat-licenses.html

I appreciate the info and the effort to furnish it, but it doesn’t answer the two questions I asked. 
 

But again, it’s simple economic dynamics at play: reduce prices to increase demand. It will be interesting to see what percentage of seats the Bills end up lowering the PSL prices on and if they will be the same type of cheaper seats as the Jets ended up lowering. If so, that would indicate that sales of the premiums will have gone just fine. 

[WotAGuy]

10 minutes ago, K-9 said:

I appreciate the info and the effort to furnish it, but it doesn’t answer the two questions I asked. 
 

But again, it’s simple economic dynamics at play: reduce prices to increase demand. It will be interesting to see what percentage of seats the Bills end up lowering the PSL prices on and if they will be the same type of cheaper seats as the Jets ended up lowering. If so, that would indicate that sales of the premiums will have gone just fine. 

I think the article does a good job of answering your questions. It wasn’t 20k seats, it was 9,000 unsold seats that they lowered the price to ensure a sell out. They offered 9,000 other seat holders a refund for the difference in the original PSL price and the reduced price.   So, you can easily check the capacity of the stadium to see the percentage of total seats this represents. 
 

And it seems clear they lost potential revenue by lowering the costs, but it seems doubtful they were in the red because of it, given the percentage of seats it represents. Your question about revenue isn’t really an either/or situation as you posed it; it does represent a loss of revenue and as a consequence, they did not make as much revenue as they had anticipated. 
 

 

Edited April 8 by WotAGuy

[K-9]

Just now, WotAGuy said:

I think the article does a good job of answering your questions. It wasn’t 20k seats, it was 9,000 unsold seats that they lowered the price to ensure a sell out. They offered 9,000 other seat holders a refund for the difference in the original PSL price and the reduced price.   So, you can easily check the capacity of the stadium to see the percentage of total seats this represents. 
 

And it seems clear they lost potential revenue by lowering the costs, but it seems doubtful they were in the red because of it, given the percentage of seats it represents. 

I didn’t read the article, but thanks. The 20,000 number came from @Einstein, but the fact it was actually less than half that amount suggests the PSL sales for the Jets were actually pretty good.

[DaVinci]

Does anyone have an Idea of how much the Bills PSL sale will generate? Or how much past PSL sales from other teams generated and what the percentage of the total stadium cost was?

[Einstein]

2 hours ago, K-9 said:

I didn’t read the article, but thanks. The 20,000 number came from @Einstein, but the fact it was actually less than half that amount suggests the PSL sales for the Jets were actually pretty good.

 

Yes, close to 20,000. As I said.

 

Maybe you’re confused due the 9,000 that wasn’t sold. They essentially had to lower everyone’s prices who purchased in those sections in order to get the last 10k sold.

 

Considering that teams hold back several thousand tickets for individual sales (they don’t sell seasons for all seats), and that the Jets didn’t sell PSL’s (at all) in a lot of the upper decks, those 18,000 seats were likely close to 30% of all season tickets.

 

Summary; The Jets had to reduce PSL pricing on 18,000 PSLS. Atlanta did too. Oakland did too.

 

 

 

Edited April 8 by Einstein

[papazoid]

4 hours ago, DaVinci said:

Does anyone have an Idea of how much the Bills PSL sale will generate? Or how much past PSL sales from other teams generated and what the percentage of the total stadium cost was?

 

The sale of Bills stadium PSLs are expected to raise between $100 million and $200 million, the News reported. 

 

https://www.democratandchronicle.com/story/sports/football/nfl/bills/2023/06/06/new-buffalo-bills-stadium-construction-is-underway-whos-paying-for-it/70290350007/

[DaVinci]

Thanks papazoid.  Do NFL teams share in the revenue from PSLsales?

[nucci]

2 hours ago, DaVinci said:

Thanks papazoid.  Do NFL teams share in the revenue from PSLsales?

No

[WotAGuy]

7 hours ago, Einstein said:

 

Yes, close to 20,000. As I said.

 

Maybe you’re confused due the 9,000 that wasn’t sold. They essentially had to lower everyone’s prices who purchased in those sections in order to get the last 10k sold.

 

Considering that teams hold back several thousand tickets for individual sales (they don’t sell seasons for all seats), and that the Jets didn’t sell PSL’s (at all) in a lot of the upper decks, those 18,000 seats were likely close to 30% of all season tickets.

 

Summary; The Jets had to reduce PSL pricing on 18,000 PSLS. Atlanta did too. Oakland did too.

 

 

 

And perhaps this is why the Bills haven’t released an overall pricing structure.  They are going with the infamous “dynamic pricing” like done for concerts and other events.  They are gauging the market as they sell PSLs from top to bottom.
 

The Bills also have a very layered pricing where different rows in the same section have different prices, at least that’s what I saw from a figure someone presented upthread.   So that will give them further flexibility to have multiple price points within section. 
 

Perhaps the Bills/Legends have studied past PSL sales and seen the trends in the Jets, Falcons and Raiders sales and developed this method to avoid having to lower prices after they are announced. 
 

Just a thought. Not defending it. Offering an explanation. 

[Mr. WEO]

12 hours ago, Einstein said:

Better yet, grab a PSL when the Bills cut the price in half - or when someone sells it on the resale market for penny's on the dollar.

 

why pay half a PSL?  You know I'll be buying that ticket on Stubhub...

[Kirby Jackson]

I’m going tomorrow with no idea what we are going to do. There’s really 3 options and each has flaws. 1) East Club - heated, covered, most expensive. 2) Field Club - great location, less expensive, not heated or covered 3) Wait and slide into the corners somewhere. Hoping to still be covered but probably sacrificing heat and amenities. 
 

I’ll report back with whatever I learn.

[Mr Info]

58 minutes ago, Kirby Jackson said:

I’m going tomorrow with no idea what we are going to do. There’s really 3 options and each has flaws. 1) East Club - heated, covered, most expensive. 2) Field Club - great location, less expensive, not heated or covered 3) Wait and slide into the corners somewhere. Hoping to still be covered but probably sacrificing heat and amenities. 
 

I’ll report back with whatever I learn.

It will be interesting to hear which sections are now unavailable in the East Clubs. When I committed two weeks ago there were 3 sections sold out. Reply about that if the rep says something. 

[papazoid]

1 hour ago, Kirby Jackson said:

I’m going tomorrow with no idea what we are going to do. There’s really 3 options and each has flaws. 1) East Club - heated, covered, most expensive. 2) Field Club - great location, less expensive, not heated or covered 3) Wait and slide into the corners somewhere. Hoping to still be covered but probably sacrificing heat and amenities. 
 

I’ll report back with whatever I learn.

 

what is the "fee" the bills PSL Agent charges to complete/record a "TRANSFER" of the psl from an aftermarket transaction.....the agreement does not say

[Kirby Jackson]

1 hour ago, Mr Info said:

It will be interesting to hear which sections are now unavailable in the East Clubs. When I committed two weeks ago there were 3 sections sold out. Reply about that if the rep says something. 

For sure!! Appreciate the heads up. 

13 minutes ago, papazoid said:

 

what is the "fee" the bills PSL Agent charges to complete/record a "TRANSFER" of the psl from an aftermarket transaction.....the agreement does not say

I’ll ask

[Einstein]

3 hours ago, Kirby Jackson said:

I’m going tomorrow with no idea what we are going to do. There’s really 3 options and each has flaws. 1) East Club - heated, covered, most expensive. 2) Field Club - great location, less expensive, not heated or covered 3) Wait and slide into the corners somewhere. Hoping to still be covered but probably sacrificing heat and amenities. 
 

I’ll report back with whatever I learn.

If youre looking for suggestions, East Club has my vote.

The heat and coverage is irreplaceable.

[Kirby Jackson]

9 minutes ago, Einstein said:

If youre looking for suggestions, East Club has my vote.

The heat and coverage is irreplaceable.

That’s what we have now but by the goal line (so significantly less). That’s where we are leaning but $20k each is steep. I was hoping if we gave up some yardage that would be $10k-$15k. I haven’t heard that though. Heat and covered are so important to us though that we may stretch.

Edited April 8 by Kirby Jackson