: What’s driving up prices for sporting events? Taylor Swift is one factor, alongside inflation and pent-up demand

by | Oct 14, 2023 | Stock Market

It’s a great time of year to be a sports fan, but if you want to see a game in person, be ready to pay more than you would have a year ago. Ticket prices for sporting events were up 18.9% in September compared to the previous year, according to the latest data from the Bureau of Labor Statistics.

The National Football League’s season started in September, and that was probably a major factor in the price jump, said Jesse Lawrence, CEO and founder of the ticket platform TicketIQ. Among the four biggest professional sports in the U.S. — football, basketball, hockey and baseball — football tickets are typically the most expensive, Lawrence said. When pro football season begins in September, it drives up the overall average price paid for sports tickets.  The average price of NFL tickets in 2023 is $612, compared to $468 in 2022 and $418 in 2019, according to TicketIQ data.  Consumers paid on average $109 for tickets to sporting events in August 2023, compared to around $89 the previous year.  Americans spent $36 billion in total on watching sports in person in August, compared to $29 billion in 2022, according t …

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