As the College Football Playoff gets set for its first-ever 12-team version this weekend, I have been surprised by those who have been surprised by the number of available tickets to the game.
If you look on social media or search the secondary market, you might be surprised by the “get-in” prices for some of these games. It was the same thing two weeks ago for the conference championship games. You could have gotten into the Big Ten Championship between Penn State and Oregon for only $10.
The sports talk radio professionals who read this site will understand all the issues in college football that led to these underwhelming prices for what used to be premier games.
For those who are not in the loop, fans are voting with their dollar. They’re being asked to spend more money than ever before on games. And if you’re a fan of one of these teams, you might play up to five postseason games, including the conference championship game.
Very few people have the time and resources to go to all these games, so they pick and choose. And they’re also realizing that some of these games aren’t as appealing as the college football hype men, led by ESPN, are trying to convince you they are. Consumers are not stupid.
To tie this back to news/talk radio, or any radio format, there will be a big push to find money in non-traditional places since we all know the spot inventory is not as valuable as it may have once been for a multitude of reasons, much of it out of control of anyone working in the industry. There is more competition for ad dollars and a more fragmented media landscape. That means more places to spend money, which has meant a hit for traditional broadcast outlets like TV and radio.
But as we look to next year and try to find new revenue sources, be leery of thinking that your audience is going to pony up for any “station event” you might put on. There certainly can be revenue there. But it better be a damn good and well-thought-out event that is can’t-miss and will provide the listener with an unforgettable experience.
Don’t misunderstand, though. That doesn’t mean it has to cost your radio station in a big way. It just means it needs to be highly creative, unique, and unlike anything else they could experience.
There are stations all over the country doing this already, and the benefits are not just financial but also brand loyalty, which, to tie it back to the ever-changing media landscape, is arguably just as valuable as the financial aspect.
But in a soft economic climate where inflation has eaten away at the wages of everyday Americans, you can’t assume people will open up their wallets for you. Heck, Disney Plus hasn’t been hitting its subscriber goals. If Mickey Mouse and Elsa can’t hit their targets, and if the Big Ten Championship can’t get people to pay $20 per ticket, in part due to a broader pullback from the consumer, you better make sure your station event planning is a must-attend for your audience. And it’s the kind of event that makes them want to go to the next one while also maintaining their loyalty.
These ideas don’t grow on trees, but when you find one that works, you’ll be off to the races. Happy 2025 brainstorming.
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Pete Mundo is a weekly columnist for Barrett Media, and the morning show host and program director for KCMO in Kansas City. Previously, he was a fill-in host nationally on FOX News Radio and CBS Sports Radio, while anchoring for WFAN, WCBS News Radio 880, and Bloomberg Radio. Pete was also the sports and news director for Omni Media Group at K-1O1/Z-92 in Woodward, Oklahoma. He’s also the owner of the Big 12-focused digital media outlet Heartland College Sports. To interact, find him on Twitter @PeteMundo.
