#letsmovedown team

[letsmovedown-blog]

The University of Memphis Athletics Department announced Wednesday a partnership with LetsMoveDown, a mobile provider of seat upgrades and targeted fan rewards, for the 2013-14 Tigers basketball season.

[letsmovedown-blog]

@LetsMoveDown I would have used this last night if it were available at the Kings/Clippers game. Such a great idea.~@joshhobson

https://twitter.com/LetsMoveDown

[letsmovedown-blog]

LetsMoveDown and The Venue

In previous posts, we've talked about LetsMoveDown from the perspective of the buyer and from the seller.  However, we haven't had a chance to explain some of the benefits that LMD brings to one of the most important partners: the venue.

Venues are facing new challenges that they haven't had to encounter in the past.  The proliferation of improved home entertainment technology centers combined with an increase in the cost of going to a game have created new challenges to attract fans out to the arena.  While it is incredibly hard to recreate the excitement of attending a game in person, more and more fans are opting to watch the games from the comfort of their own homes over making the trek out to the arena.  For venues, this creates two major problems that are impacting their bottom lines: leftover primary inventory at game time and an increase in "no-show" seats from ticket holders.

A lot of teams derive the bulk of their revenues from ticket sales and purchases inside the arena- this is particularly true for the NHL and collegiate sports.  If fans aren't buying tickets or fans with tickets aren't showing up to the game, the venue loses out on potential ticket, concession, merchandise, parking, apparel, sponsorship and advertising sales.  While there is not a lot of published data surrounding the impact on "no-show" seats, the LA Dodgers reported that the team lost $27 million in 2010 that was directly attributed to fans with tickets not showing up the arena.  That's a lot of cash.

On top of that, leftover primary inventory and "no-show" seats create a very depressing game atmosphere that looks bad on TV and detracts from the fan experience of those within the arena.  We've all been to games where the atmosphere resembles the wild west sans the occasional tumbleweed.  It's no good, and to make matters worse, we have to stare at all of the great empty seats that would be a perfect fit for our butts.

This is where LetsMoveDown comes into play.  While we can't do much to decrease no-show rates or increase the demand of primary inventory before the game occurs, we can offer fans at the arena a unique experience that makes their trip to the game worthwhile.  Instead of accepting the new normal of sports, LetsMoveDown allows fans at the arena to purchase better seats during the game and fills the best seats with the best fans.

What does this mean for the venue?  First, it rewards the fans in the arena for coming out by offering them in-game seating upgrades and other amazing fan rewards.  Second, it helps out with optics by giving fans a legitimate platform to move down during the game.  Instead of having an empty 100 level with a packed 400 level, we can migrate fans closer to the action to improve the game environment.  Third, LetsMoveDown generates revenue for the host team.  Our easy platform moves leftover primary inventory as well as gives season ticket holders a chance to sell unusable tickets during the game.  Both of these actions directly results in more dollars back into the team's pocket.

LetsMoveDown is a pretty simple solution to help teams out in a difficult environment.  Does it solve all of the problems out there?  Of course not.  However, LMD is a great step to engage fans and ensure that any fan at the arena, regardless of their donor level or background, can have an opportunity to legitimately experience the thrill of watching a game from the 1st row.

The proof is ultimately in the pudding, but based on the early success of LMD, we're confident that this will be the new normal in sports very shortly.