Jacob Westgerdes’ Post

New white paper just dropped! This analysis explores major stadiums nationwide. Here are some of our key findings: 🏀 MLB stadiums experience the longest and most sustained increase in visits throughout the MLB season and biggest drop in visits in the off-season. Football stadiums and basketball arenas – which tend to be relatively multipurpose – experience less of a drop-off in the off-season. ⚾️ Stadium visitors generally come from higher-income areas, with MLB stadiums attracting the wealthiest. 🏈 Each stadium’s visitor base seems to have distinct retail and dining preferences. For instance, 29.9% of visitors to Yankee Stadium frequented Kohl’s, that percentage jumped to 47.3% for Busch Stadium visitors. 🏟 Different events impact the local dining scene differently. For example, the Super Bowl boosted sports bars like Yard House and Buffalo Wild Wings, while Taylor Swift's concert attendees gave Raising Cane’s a significant boost a month later. Explore deeper insights by checking out the complete white paper linked in the comments below. #advertisingandmarketing #businessintelligence #retail

The Retail Opportunity of Stadiums 🏟️ Dive into the location intelligence to understand the significant retail and dining opportunities in and around major stadiums – both during games and in the off-season.

The Retail Opportunity of Stadiums Placer.ai Dive into the location intelligence to understand the significant retail and dining opportunities in and around major stadiums – both during games and in the off-season. https://lnkd.in/e5V5C5_K

The way to a fan’s heart (and loyalty, and dollars) is through their stomach … or so it would seem. Managing consumer demand for food (variety, convenience, on-demand) is essential to modern stadium management Sports Business Journal #sportbusiness #sportmanagement #stadium #facilties https://lnkd.in/eKJpFxpc

A #Swiftie #SuperBowl: Uniting #Sports, #Music, and #Consumer #Culture #Qatar successfully held #fifaworldcup in 2022 and #KSA will host #fifaworldcup 2034 and #UAE and other #middleeast countries are establishing #sports as #industry and promoting #sportstourism The #USA Super Bowl LVII, which determine National Football League (NFL) champion, one of the most successful event in the world, provide an insight how a #sportsevent can be successfully transcends from a mere sporting competition into a #cultural #phenomenon that brings enthusiasts together to revel in the spirit of #sports, #entertainment, and #consumerism. 1. 200.5 million U.S. adults plan to tune in to the big game 2. 112.2 million people plan to throw or attend a party 3. 16.2 million plan to watch the game at a bar or restaurant 4. $17.3 billion expected spending on food, drinks, apparel, decorations, and other purchases for the day 5. $86.04, expected average spend per household for the event, with the majority allocated to food and beverages. 6. 330,000 visitors expected to book approximately 350,000 room nights in Vegas for the Super Bowl 7. $600 million expected to the economic impact on the city economy 8. $573, forecasted average daily rate for a hotel room in Las Vegas between February 9 and February 11, surpassing Miami’s previous record of $559 set in 2020 for Super Bowl LIV. The Swiftie Effect on Retail With #TaylorSwift leading the star-studded #extravaganza, with a lineup of #RebaMcEntire, #PostMalone, #AndraDay, #Tiësto, and #Usher the event is expected to be #bonanza for #retailsector. #TaylorSwift has been a financial boon for the National Football League (NFL) and Kansas City Chiefs in the wake of her romance with star tight end #TravisKelce, creating a “brand value” of $331.5 million for the Chiefs and the NFL. Within 24 hours after Taylor Swift participation in her first Kansas City Chiefs game in 2023, the star tight end’s jersey sales increased by 400% across the Fanatics network of sites. “Swifties” carry some real purchasing power with 300 U.S. retail store in a survey reveals that 100% of respondents said Taylor Swift has impacted sales at their physical stores, influenced by her as a brand as well as her music, movies, and concerts. If you are looking to #commercialise #sports sector and related #retail, #fandb, #music and #entertainment sectors, please contact Mansoor Ahmed (Economist l Strategic Advisor), who work with Colliers #smes across the globe to bring in #international #expertise with #localknowledge to provide you #bestinclass #busienss #solutions. Ministry of Sport – وزارة الرياضة Basim K. Ibrahim Royal Commission for Riyadh City | الهيئة الملكية لمدينة الرياض ROSHN l روشن Dubai Sports Council Dubai Sports City Abu Dhabi Sports Council Katara Hospitality Aspire Katara Hospitality Gavin Gibbon Jennifer Bell Dayan Abou Tine Green Riyadh Bader Al Jeraisy

Sports Stadium revenue, by leaguge: Sports stadiums are a crucial source of revenue for professional sports leagues, generating more than $17 billion over the 2022-2023 season. The cost of gate receipts across the big four leagues have jumped much higher than core inflation since 2007, with the sharpest rise seen over last year. One part of the reason is the rising costs of suites and luxury boxes, which can run as high as $45,000 per game for teams like the NFL’s San Francisco 49ers. During Super Bowl LVIII, the cost of suites peaked at $2.5 million. #sportsmarketing

Kansas City Chiefs plan Arrowhead Stadium redevelopment The National Football League (NFL)’s Kansas City Chiefs have unveiled initial concepts for a $800 million reimagination and renovation of Arrowhead Stadium that will move the iconic stadium into the future. The club has consulted with a team of experts from Populous on best-in-class features and concepts that would elevate an already revered venue and unrivalled fan experience to new heights. The team presented renderings and video of proposed repairs, maintenance, renovations and enhancements that would maintain Arrowhead Stadium as the home of the four-time Super Bowl champion Chiefs for decades to come. The revamp would also help Arrowhead double down on its status as an iconic cultural landmark for Kansas City and the entire Midwest region, as well as a destination for sports and entertainment fans from around the world. Chiefs Chairman and CEO Clark Hunt said: "For more than five decades, Arrowhead Stadium has been the home of the Chiefs, and a home for so many of our fans. This is where generations of Chiefs fans fell in love with the game. History has been written here, legends have been born here, and lifelong memories have been made within these walls. The stadium has become part of the fabric of our community. Today we are excited to share our plans to extend the life of Arrowhead for future generations of Chiefs fans." Chiefs President Mark Donovan said: "Today is a major milestone in a very long and complex process that has taken place behind the scenes for more than two years. It is important to recognize the work of our internal team, as well as the team from Populous, who have worked closely on this project from the time that we started reviewing core samples of concrete through today’s announcement. There will continue to be many steps, tweaks and updates as we move forward, but we hope Chiefs fans are excited and encouraged by the significant progress and investment that has been made and will continue to be made going forward." For the full story, go to: https://lnkd.in/ewshDy3x Article written by John Sheehan Anthony Matthies Matthew Kenny Kurt Whitlow Dan Crumb Brandon Hamilton Kimberly Kruse Weston Owen Bruce Miller Sherri Privitera Charlie Brooks adam stover #nfl #chiefs #sportsbiz #sportsindustry #stadia #stadium #stadiums #sportsvenuebusiness #sportsvenuebiz #svblive Sports Venue Business SVB LIVE

Super Bowl LVIII: Soaring Ticket Prices Reflect a Perfect Storm of Demand and Spectacle As we gear up for Super Bowl LVIII in Las Vegas, ticket prices are making headlines, with average costs hitting an all-time high. According to TicketIQ, we're looking at an average price tag of $10,752 - a testament to the event's unmatched appeal. Historic Highs in Ticket Pricing: This year's ticket prices are second only to the 2021 Super Bowl, where attendance was limited due to COVID. Current prices are a significant leap from previous years, indicating a robust demand for one of the world's biggest sporting events. The Vegas Effect: The game's debut in Las Vegas, coupled with the high-profile matchup between the Kansas City Chiefs and San Francisco 49ers, is a major factor driving up the prices. The allure of Vegas, combined with the popularity of these teams and their star players like Patrick Mahomes and Travis Kelce, is creating a frenzy among fans. The Taylor Swift Factor: Adding to the excitement is the buzz around Taylor Swift potentially attending the game to support Travis Kelce. Her presence could add an extra layer of glamour to an already star-studded event. Economic Indicators and Trends: These skyrocketing prices aren't just about sports; they reflect broader economic patterns. With consumers increasingly spending on experiences over goods, events like the Super Bowl become even more valuable. This phenomenon, known as "funflation," emphasizes the shift towards experience-based spending in the economy. Implications for Businesses and Marketers: For businesses and marketers, the "Super Bowl Effect" is a reminder of the power of live events in driving consumer engagement and creating high-value branding opportunities. This event demonstrates the strategic importance of aligning with consumer trends and leveraging big moments for maximum impact. #SuperBowlLVIII #SportsMarketing #ConsumerTrends #EventEconomics #LasVegas #TaylorSwift #NFL #linkedinnews #linkedincommunity

Taylor Swift is Super Bowl bound! The Chiefs' most famous fan drew huge new audiences to the NFL. But what are NFL stadiums doing to keep this new fan base? Bill Johnson, director of HOK's Sports + Recreation + Entertainment practice, spells our 4 ways venues can tap into the "Taylor Effect" and, in so doing, make stadiums more inclusive and dynamic. These include: 1. Rethinking player-fan interaction 2. Accommodating VIP guests 3. Integrating diverse fan interests 4. Expanding sponsorship and merchandising opportunities "This is an unprecedented opportunity to reimagine a stadium as a community hub where sports and entertainment converge," says Bill. "We can redefine the next era of stadiums." Discover more: https://lnkd.in/gGS4HzKC #stadiumdesign #nfl #taylorswift #hoksport

GMA Consulting Founding Partner & Managing Director Josh Swissman, MBA was featured in a recent article discussing Las Vegas' transformation into a premier sports destination. In "Sin City to Sports Heaven: Las Vegas as an Athletic Destination" by Jess Marquez of Global Gaming Business, Josh highlights the factors that have cemented Vegas as a top choice for major sporting events. From the city's unique hospitality infrastructure to its unparalleled ability to host major events like the Super Bowl and the F1 Las Vegas Grand Prix, Josh explains why Las Vegas stands out as a sports hub. As Josh puts it, "Las Vegas continues to execute events on a scale and at a level of quality that no other destination can rival." This success is reflected in Vegas' ability to attract record-breaking attendance for teams like the Aces and the Golden Knights, as well as generate significant economic impact from special events. Read the full article to learn more about how Las Vegas has become a top-tier sports city: https://lnkd.in/ei2T9rJ3 #SportsBusiness #LasVegas #SportsDestination #GMAConsulting #Leadership #Hospitality