The Recent Decline
This was only four short years ago. With the economy spiraling downward faster than Jimmie Johnson’s number 48 car on the backstretch at Talladega, tracks have recently seen more open seats in this historically blue collar sport. Many American businesses, like the airlines, might simply increase prices to allow the additional margin to cover the lost volume.
Economic Reaction
Not NASCAR. In a surprising and refreshing move, NASCAR has reacted swiftly to the tough economic times and announced ticket price reductions for 2009 at most of the circuit’s tracks. For example, Daytona International Speedway announced early in 2009 that it was dropping ticket prices along the backstretch grandstand to $55, a nearly 50 percent reduction, for the Daytona 500.
Higher Ticket Prices than the Big Four
Some would argue that NASCAR ticket prices have been over-inflated for years and these price adjustments are simply a supply and demand economy correcting itself. While this may be true, the average ticket price at NASCAR events, at $88.16, is still higher than the four major American sports, according to a sampling of six circuit tracks. However, that doesn’t tell the whole story. NASCAR tracks have only one or two events per year to earn their revenues. In comparison, NFL teams have a minimum of eight events, Major League Baseball has a minimum of 82, and the NBA and NHL each have a minimum of 41. These numbers do not include preseason or postseason games.
Better Value than Major League Baseball
Most notably, the vast majority of tracks still allow race fans to bring in their own food and drinks, including beer, and parking is usually free. Food, drinks, parking, and souvenirs combined at the other major league events is usually no less than the price of an average NASCAR ticket. In fact, Team Marketing Report, Inc. reported that the average price, not including tickets, to attend a 2008 Major League Baseball game for a family a four was $90.40.
Let’s Go Racing Boys
Congratulations NASCAR. Becoming the fast growing sport and number two brand in America a few short years ago was extremely impressive. However, reacting to tough economic times by changing your business model and giving race fans the opportunity to go to the legendary Daytona 500 for no more than $55 per person is simply heroic. You are a ray of light through dark clouds. As legendary driver Darrell Waltrip would say, "let's go racing boys."
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