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Green Monster Dynamic Pricing Could Add $2- $3 Million Of Revenue From Red Sox Tickets Jesse Lawrence

Jim Rice’s career average at Fenway Park was 43 points higher than games away from Fenway Park. Many attribute that to the Green Monster, the thirty-seven foot-high left-field wall that has been watching over Red Sox games for 112 years. Across those thousands of games, the wall has disproportionally benefited right-handed pull hitters like Rice. Another Red Sox pull hitter that benefited from the wall was Nomar Garciaparra. Garciaparra’s batting average at Fenway was 25 points higher than his career average. In addition to being a national landmark and the highlight of Bucky Dent’s career, those higher batting averages has has been the monster’s most enduring legacy to date. After years of adding to righties batting average, though, the Green Monster will now be adding a few points to Red Sox bottom line. With the announcement today that Red Sox tickets on the Green Monster will be priced dynamically, the Red Sox are likely to generate an extra $2 to $4 million of incremental revenue.

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For many years, Red Sox has relied upon on arbitrary prices as well as secondary markets to obtain a balance in their revenues. This always focuses on using fixed market prices while selling out their season tickets. It is an approach that has been used over a period of 112 years- since the inception of the team. This system, however, is poised to change with time. The president of the team has suggested that the team will change the way they price their tickets from the traditional pricing approach to the dynamic pricing model (Lawrence, 2014)…

 

(600 words)