Big business always finds a way to pass on costs to consumers, whether it’s food, gas, or tickets to sporting events. The University of Tennessee recently announced a 14.5% increase in football ticket prices, with 10% allocated for athlete compensation. This move was inevitable after recent legal decisions allowing athletes to be paid for their name, image, and likeness.
In the world of big business, executives and administrators rarely feel the pinch of cost increases themselves. It’s often the consumers who foot the bill. This trend is evident not only in college athletics but also in other sports like the WNBA, where rising popularity has led to significant ticket price hikes.
Georgia, the reigning national champions in college football, is also increasing ticket prices and donation requirements. This move reflects the reality that fans will often pay whatever it takes to support their favorite teams. While some fans may be priced out by these increases, teams are banking on the loyalty of their core fan base.
Experts warn that companies risk alienating long-time supporters by dramatically raising prices. While it may lead to short-term profits, it could damage the brand’s reputation in the long run. Ultimately, businesses charge what consumers are willing to pay, a fundamental principle of capitalism.
The debate over ticket price increases has sparked strong reactions among fans, with some feeling priced out of the game-day experience. But for powerhouse programs like Tennessee, the loyalty of their fan base is often unwavering, despite the rising costs.
As the cycle of cost increases and consumer responses continues, one thing is clear: in the world of big business, the customer often foots the bill. Whether it’s college football or the WNBA, ticket price hikes are a reality that fans must grapple with as they continue to support their favorite teams.
