University of South Carolina Uncovers Hidden Revenue with Dynamic Pricing
Fair Value, Fan Choice: South Carolina Gamecocks Dynamic Pricing Success Story
The Gamecocks women's basketball program faced a significant challenge: their static ticket pricing was leading to substantial revenue loss to the secondary market. Despite primary tickets being affordably priced at $25-$40, high demand meant these tickets were frequently resold for as much as $200, representing 5-10 times their original cost. While the university aimed to keep tickets accessible for fans, this static model meant they were missing out on significant potential revenue.
"We're incredibly proud of our women's basketball team. Partnering with Tillion has helped us align our ticket pricing with the program's true value, ensuring more fans can share in their success." - Lance Grantham, Senior Associate AD of Ticketing and Customer Relations, Gamecocks Athletics
The Solution
To combat this, the Gamecocks adopted Tillion's AI-driven dynamic pricing solution, powered by Pricemaster. This innovative approach allowed USC to adjust ticket prices in real-time, effectively capturing market demand while still providing a diverse range of price points to accommodate various fan preferences and budgets.
The Impact
A four-week pilot program demonstrated impressive results:
The Potential
Based on the success of the pilot, a full-year rollout of Tillion's dynamic pricing across all of the university’s athletics programs is projected to potentially yield a 40% increase in total ticket revenue. This significant boost could lead to enhanced fan experiences and greater support for athletic programs, representing a 10x increase over current realized revenue.
Why This Matters
Tillion's technology empowers the University of South Carolina to move beyond the limitations of static pricing, fostering a dynamic and fair market environment. This approach provides fans with a wider selection of ticket options based on their preferences and budgets, ultimately ensuring that the excitement of Gamecocks athletics is accessible to a broader audience.
Product Spotlight: Tillion, a WMT Technology, powered by Pricemaster
Tillion, a WMT Technology, integrated with Ticketmaster's PriceMaster, is unlocking the future of revenue potential for college athletics programs. Ticketmaster's PriceMaster has long been a trusted solution for dynamic pricing, allowing for flexible strategies based on predefined parameters and market trends. Recognizing the opportunity to enhance these capabilities with cutting-edge artificial intelligence, Ticketmaster partnered with Tillion to introduce Ticketmaster AI. This powerful synergy combines the proven reliability of PriceMaster with the unparalleled precision of Tillion's advanced AI technology, driving revenue growth for collegiate sports.
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