It is probably the most important question you could ask to a Ticketing Director or at least the one most linked to operate a Club´s Sport Stadium.
An understanding of your RevPAS (Revenue Per Available Seat) data provides the definitive answer and highlights the relationship between the attendance (fans who attend to a match) and ASR (Average Seat Rate) which is what a fan spends by purchasing a ticket.
It all starts with your Revenues generated!
Many industries feature a lot of jargon, so it does the sports industry, and if you are not familiar with all of it, you can feel a little bit overwhelmed. But if you were to learn and understand just a few key terms or phrases, RevPAS should be right at the top of the list if you are a sport club or a sport stadium operator.
Very simply, revenue per available seat is the gold standard performance metric used by the sport industry stakeholders to measure the health of a stadium, set of stadiums, leagues, championships, tournaments, world sport regions, etc.
Why? RevPAS enables you to understand performance success across any given period of time (matchday or season) as well as the money being made in relation to potential.
Also, calculating RevPAS is straighgorward – using the percentage of available seats sold (attendance) and the rate charged for those seats (average seat rate or ASR).
How can RevPAS benefit your business?
Stadiums have several ways for generating revenues from selling food and beverage (concessions), merchandising, hospitality experiences, but seat sales (ticketing) is always going to provide one of the biggest revenue streams— and should always be the primary business focus.
There are two ways to increase revenue from seat business: bring in more fans (and drive attendance) or charge a higher seat rate. RevPAS helps you achieve balance between these two options to achieve your optimal performance levels and keep growing.
The logical next step, once you understand your RevPAS, is to compare your performance with other clubs’ stadiums withing your league or competition—this is known around other industries as benchmarking. Every matchday, our sport clubs and sport stadium operators clients across the globe are analyzing their stadium KPI’s to identify areas to improve for the next match-day, but they also compare their stadium performance against other sport clubs’ stadiums in their leagues or competitions via our data solutions to put into perspective their own performance.
Very briefly
RevPAS puts your stadium performance into context. When Ticketing Directors or Managers compare themselves to their competition, they are better placed sell the right seat (ticket) to the right FAN at the right time and price. And as a result, RevPAS is more likely to grow.
Our Seat Watcher
data solution including the segmentation analysis (Members, Non-members, VIP and Visitors) during matchdays will allow you to benchmark your RevPAS to identify potential ticketing sales and marketing opportunities and see where you fall within your competitive marketplace.