Dynamic ticket pricing use takes off, and teams hope it’ll lure fans back into sports stadiums | CNBC

Many sports fanatics seem content to watch their favorite teams in a bar or in the comfort of their own homes.

It’s easy to understand why, as pro sports ticket prices often run in the hundreds or even thousands of dollars, depending on the game and location. According to Statista.com, the average ticket price for a National Football League game during the 2015-2016 season was $92.98 — well above other sports and almost triple the average Major League Baseball ticket at $31.

To combat this, franchises and secondary market sites are ramping up their use of dynamic ticket pricing, currently in use by at least a quarter of NFL teams, as well as in other sports. It means prices are modified in real time to account for the current market, a team’s opponent, weather conditions, and other factors determined by supply and demand.

“It is a supply-demand-driven commodity, just like a stock,” said Jesse Lawrence, founder of TicketIQ, an event ticket search aggregator. “The price should reflect the fair market value.”

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Dynamic ticket pricing use takes off, and teams hope it’ll lure fans back into sports stadiums.