Beacons Help Professional Sports Teams Reclaim $1 Billion in Lost Ticket Sales
Unacast’s Latest Proxbook Report Shows Beacons Help Professional Sports Teams Reclaim $1 Billion in Lost Ticket Sales.
Proxbook, the world’s largest directory of proximity companies, has released its The Q2 2016 Proxbook Report, which has aggregated information from more than 330 Proximity Solution Providers and reveals latest trends, facts and figures from the global proximity industry as well as the impact of proximity marketing on global professional sports teams and events.
Key insights from the Report include:
* Proximity sensors deployed globally continue to grow fast
The amount of proximity sensors sees a large uptake in Q2 with an increase of 2,072,500 proximity sensors.
There are now 8,273,500 proximity sensors deployed globally registered by Proxbook members as of Q2 2016.
6,061,500 of these sensors are beacons.
2,099,000 are NFC sensors and 113,000 WiFi points.
* Since Q1 2016, there has been an impressive 33% increase in global sensors
The 6,061,500 beacons deployed by members of Proxbook, are aligned with ABI Research’s forecast of 8 million beacons by the end of 2016 and 400 million beacons deployed by 2020.
* Google invests heavily into proximity
Google bets big on proximity and wants the ecosystem to succeed.
Eddystone adoption continues to grow as half of the proximity industry supports the newest beacon format from Google up from 45% since Q1, 2016; Apple is yet to answer.
* Sports teams and Venues increases revenue with proximity tech
Sports teams that have deployed beacons and proximity technologies are seeing a return on investment (ROI) as big as 40x from incremental merchant revenues alone within the first year.
NBA teams such as the Orlando Magic, Cleveland Cavaliers, Golden State Warriors, and the Milwaukee Bucks have opened up an entirely new revenue streams for their teams by monetizing proximity solutions through sponsored content.
Proximity technologies see widespread adoption in the North American sports market as 47% of NFL stadiums, 93% of MLB stadiums, 53% of NBA stadiums, and 47% of NHL stadiums have already started to leverage the technology.
Sports and Conference venue owners increase app adoption by as much as 6x after using proximity technologies.
How sports teams and venues are reclaiming over 1 billion dollars in lost ticket sales
Unsold tickets for professional sports games accounted for $184 million in lost revenue for the NBA, NHL and NFL combined in 2015. For MLB, it’s even worse, as $955 million was lost in 2015 from unsold tickets alone.
“Proximity technologies and beacons in particular are not only helping to sell more tickets, they are redefining how sports teams communicate with fans, increasing revenue from merchant sales as well as seat upgrades,” said Thomas Walle, co-founder & CEO of Unacast (pictured top left). “Proximity technology also opens up brand new revenue streams by enabling sponsors to interact with fans and monetize hyper-accurate visitor segments through advertising. We also expect that a number of NBA teams will be leveraging retargeting as an additional solution in the 2016-2017 season.”
The Orlando Magic saw over $1 million in increased ticket sales, 30% app adoption compared to industry standard of 5%, and a 233% increase in Fast Break Pass sales from last season. More than 80% of season ticket holders have accessed and used the app.
“We attribute the use of proximity technologies to our dramatic increase in fan engagement, ticket sales and season ticket holder renewal rates,” said Alex Martins, CEO at Orlando Magic. “The biggest complaints in our business centered around the long lines at the concessions and the fact that you had to miss a good portion of games because you were in that line. Now, we were able to eliminate that problem and look forward to utilizing the enormous amount of data to provide the best possible fan experience in our venue for our customers.”
Unacast is the world’s largest network of beacon and proximity data. With 1.8 million beacons and 56 partners, Unacast is the world’s largest network of beacon and proximity companies, connecting the physical world to the digital world.
Through the Unacast PROX network, Unacast enables a scalable solution for retailers and brands to use beacon and proximity data for online retargeting, attribution and monetization.
Online marketing is mostly based on whatever online trails the consumer leaves behind and how well are you able to leverage that information. However, online presence accounts only for 30% of the entire customer journey. At the same time, the world is being rapidly “sensored up” with beacons and other proximity technologies collecting data about customer’s offline behavior, which accounts for the remaining 70%. The data is however extremely fragmented and siloed between more than 500 companies.
Unacast is the backend of proximity that aggregates and provides a unified platform for the proximity and advertising industry, solving the fragmentation problem to the benefit of both the supply and demand side.
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