Qcue today announced that Georgetown University generated hundreds of thousands of dollars in new revenues during the 2012-2013 men’s basketball season using Qcue’s dynamic pricing solution. The athletic department not only increased revenue for high demand games, including key BIG EAST rivalries, but also drove sales for lower demand games as tip-off neared.
As one of the premier basketball programs in the country, Georgetown University turned to Qcue to analyze its men’s basketball ticket sales and develop a dynamic pricing strategy to increase revenue for its athletic department. Qcue’s experience working with more than 50 clients across a variety of professional and collegiate sports helped Georgetown optimize revenue opportunities for low and high demand games while protecting season ticket holders, who were always assured the best deals.
“Qcue's innovative pricing strategy helped us capture new sales and revenue opportunities benefitting our athletic department, while providing increased value to season ticket holders,” said Jawed Yusufi, Director of Ticket Sales & Operations for Georgetown University. “This partnership has been a great success, and we look forward to expanding it to other segments of our athletic program.”
Georgetown’s dynamic pricing plan for the 2012-2013 season included setting more accurate on-sale prices and the flexibility to make price updates as demand shifted throughout the season. Qcue’s live data feeds provided up-to-date information from the primary and secondary market, as well as daily pricing recommendations, which allowed Georgetown to efficiently monitor market conditions and adjust ticket prices accordingly. Direct integration with Ticketmaster, Georgetown’s ticketing system, made it easy to communicate pricing updates to all points of sale, keeping fans informed of ticket prices in real time.
“Accurately pricing tickets for college sports has always been a challenge; however, dynamic pricing gives athletic departments the flexibility and intelligence to maximize both attendance and revenue,” said Barry Kahn, CEO of Qcue. “Georgetown University has a great vision for its program and understands what it takes to execute a winning strategy. We’re seeing strong demand from universities across the country looking to follow Georgetown’s lead and drive significant returns for their own athletic departments.”
Working with teams across Major League Baseball, Major League Soccer, the National Basketball Association, the National Hockey League, NASCAR and the NCAA, as well as international organizations, Qcue represents the largest roster of dynamic pricing clients in the industry. Qcue’s software helps teams analyze sales data and other external pricing variables, providing sales and revenue projections, detailed reporting capabilities and market-based price recommendations. In addition, seamless integration with all major ticketing systems reduces operational burdens by directly communicating price changes to various sales channels.
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