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Cubs increase ticket prices again

Saturday, November 20, 2004

Al Yellon reports that the Cubs 2005 ticket prices have increased again.

Similar to last year, there are three ticket price levels in 2005, value, regular, and prime. Al says the Cubs told season ticket holders there are 6 value dates, 35 regular dates, and 40 prime dates. In 2004, there were 8 value dates, 45 regular, and 28 prime dates.

He also reported the ticket prices for each seating section. In the table below, I have included the 2004 ticket prices and the percentage change.

The Cubs have not announced ticket prices on their most expensive ticekts yet (the dugout level seats, and the mezzanine boxes).

The weighted average of all the announced ticket price changes increased 13.1% for value dates. The average ticket price is $14.90 up from $13.17.

The weighted average of all the announced ticket price changes increased 13.0% for regular dates. The average ticket price is $29.19 up from $25.82.

The weighted average of all the announced ticket price changes increased 11.8% for prime dates. The average ticket price is $36.69 up from $32.83.

Finally, the weighted average of all announced tickets and dates is $31.83 up from $27.00, a 17.9% increase.

A few notes about the above figures: These are not the actual average ticket prices. The above analysis only includes the tickets with newly announced prices. There are 119 family section tickets, 107 group section tickets, 213 dugout level tickets, and 1,059 mezzanine box tickets that are not included.

If you assume the ticket prices for the unannounced seats remain unchanged, the average ticket price will be $34.96, up from $29.93 last year (16.8% increase).

However, the more likely scenario is a 15% increase in mezzanine level prices, no change in dugout level prices (currently $50 for value, $100 for regular, and $150 $250 for prime), and changes in the family section and group section equal to the bleachers... which gives us an average ticket price of $35.45 (an 18.4% increase).

• The letter Al and the rest of season ticket holders got this week represents a 17.9% increase in ticket prices.
• However, I think when the remainder of ticket prices are announced, the effective increase will be about 18.4%.
• When TMR issues their 'average ticket price' listing, I'm predicting the Cubs will come in at $32.60 (I think they ignore the Mezzanine tickets.)

This is a table of the Cubs average ticket prices from TMR's FCI from 1992-2004, plus my projections in 2005

• TheCubdom.com - Regression model of Cubs ticket prices
• TheCubdom.com - How Big is Wrigley Field>
• TheCubdom.com - Breakdown of seats by seating area
• TheCubdom.com - A discussion of ticket prices from 2004
• Cubs.com - Press release regarding sale of dugout level tickets
• Cubs.com - Press release of letter to Season Ticket Holders, 2003

Posted by Byron at November 20, 2004 9:42 PM | | |

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