Super Bowl Tickets Can Cost Upwards of $50,000 on StubHub. People Are Buying Them Anyway

Super Bowl ticket prices reached record highs this year, with tickets on sites like TickPick and StubHub priced from $6,103 for nosebleed seats to more than $50,000 for seats near the 50-yard line, at this writing. The average price is around $9,800.

Granted, Super Bowl tickets have never been inexpensive, but this year’s jump in prices is exceptionally high. Some point to inflation, but that’s not the reason. Prices have risen about 3.4 percent compared to last year, but Super Bowl ticket prices are up more than 70 percent. Despite the huge increase, a StubHub representative told Fox News, ticket sales are nearly double what they were last year, and some sections are showing as sold out.

This would seem counter to the laws of supply and demand, where raising the price of something by 70 percent should normally cause sales to slow down instead of speed up. What the heck is going on here? I believe there are three answers to that question, and that understanding them can help you make customers fall in love with your own product or service.

1. The Super Bowl has a great story going on.

In fact, it has several. The Kansas City Chiefs are playing the San Francisco 49ers in a rematch of the 2020 Super Bowl which the Chiefs won by coming back from 10 points behind in the last quarter. Will the 49ers get their revenge this time?

Then, of course, there’s a love story–the very high-profile romance between Taylor Swift and Chiefs tight end Travis Kelce. Swift will reportedly be at the game, even though she’ll have to get there very quickly from a performance in Tokyo. 

And then there’s the story of the Kelce family, who have become football royalty. Kelce’s older brother Jason is the Philadelphia Eagles center and co-captain, and he made headlines last week after the Eagles suffered a humiliating loss to the Tampa Bay Buccaneers. Some people took his speech after the game as an announcement of his retirement. The two brothers have a podcast, and Jason used it to correct that misinterpretation, explaining that he hasn’t yet decided whether to retire or to play another season. 

All these stories have helped build interest in the Super Bowl beyond even its usual high levels, and I think people are drawn in by all the potential drama. Any time there’s a compelling narrative around your product or your company, it can help bring heightened interest from your customers. Everyone loves a good story.

2. The Super Bowl is reaching a whole new market.

Taylor Swift has millions of fans, and they tend to skew female and generally younger. This is one reason the NFL has so publicly embraced her and her presence at games where Kelce plays. Swifties, as they like to call themselves, aren’t necessarily football fans, but because Swift’s fans feel a deep personal connection with her and they’re entranced by the love story with Kelce, football is currently benefiting from the “Taylor Swift effect.” The fact that Swift’s boyfriend is playing in the Super Bowl, and that she will likely be there has added a lot to the excitement of this year’s big game. 

Football obviously has a very wide fan base, but with Swift on hand, it just got a whole lot wider. Any time you can pique the interest of a new market, that’s an opportunity. The challenge will be to keep that interest alive.

3. People see the Super Bowl as a once-in-a-lifetime experience.

Making it to a Super Bowl is a big event, and this year it seems like more of an experience than usual. On top of the Chiefs-49ers rematch and the Taylor Swift effect, the game is in Las Vegas, a major tourist destination. 

Since the pandemic, economists have noted what some call “funflation”–the rising prices of all forms of live entertainment, especially sports. It’s likely the combined effect of a pent-up desire to get out to events and a growing preference for spending on experiences rather than objects. While you might think that purchasing a cherished piece of furniture or clothing or gadget will give you more pleasure over time, research suggests the opposite is true. Thinking back on a great experience can make you happy for years to come, whereas once you own a coveted item, the joy it brings will fade over time due to “hedonic adaptation.”

With that in mind, many people heading to Las Vegas for the Super Bowl don’t see it as spending $9,800 or so for four hours of sports and entertainment. Instead, it will be a whole weekend or more of Super Bowl-related fun in a city that’s famous for its ability to party. It’s something they expect to look back on happily for the rest of their lives. And how do you put a price on that?

People will willingly pay a premium for a memorable experience, or any experience that makes them feel special. How can you use that to your advantage in your own business?

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