The national championship is actually finally over. This means a heck of a lot less Budweiser commercials, trash bins finally emptied of the remnants of chicken wings, and Sunday afternoons no longer devoted to sitting glued to the televison. (That is until March Madness) However, what can we say about the Superbowl, and what the single-most watched event on television does for our economy?
"Super Bowl ticket prices are up 14% in secondary market. This year, a single seat for Super Bowl XLVII is averaging $3,398 online, versus $2,990 a year ago" - Is this a product of inflation?
How has recent monetizing affected different sectors of the economy?
What has the Superbowl done for New Orleans also different brands in the market? Should we have more broadcasted events advertised to the magnitude of the Superbowl?
Will more events like this help our economy?
How much chicken did you eat?
Another Article:
http://www.usatoday.com/story/news/nation/2013/02/01/super-bowl-economy-boost-tourism/1885093/
With the Super Bowl being such a premiere event around the world, there will always be a demand to see the game - whether if that's a ticket to the game itself or just watching on TV. No matter the price of tickets, there will always be a large demand. I don't think the higher ticket prices are due to inflation, I think that they are due to the high demand of tickets. It also helped bring in a lot of money to the city of New Orleans. Hopefully this will have a big impact on their economy, as I sympathize with the effects that Hurricane Katrina had on the city.
ReplyDeleteI'm shocked at the price of the average ticket. Way more than I expected. But, the article is right, this must reveal a lot about the health of our economy and people's will to spend. I do not agree with this assumption that the article makes: "High-end consumers – households making more than $100,000 a year — are clearly confident." We can't apply this confidence to ALL high-end consumer. The Super Bowl is obviously a great marketing tool for companies, and rightly so with the number of viewers and how much it costs to get a single 30-second commercial.
ReplyDeleteThe Super Bowl is a huge moneymaker that most definitely affected our economy in a positive way. On Super Bowl Sunday, Americas all over tune in to watch the big game. Broadcast viewings skyrocket and any type of Super Bowl related consumption (sports wear, beer, snack foods, etc.) is also affected positively. Not only is the Super Bowl an American tradition, but with the billions being spent through commercials, bets, tickets, promotions, and the half time show it is also a huge source of spending.
ReplyDeleteThough the Super Bowl is not a big as an event as the Olympics, I would like to compare the two in regards to economic contributions. Big athletic events such as these have the ability to really increase spending, especially the location they are held in. I would like to use the 2008 Beijing Olympics as an example. This event was a milestone for Beijing. The bird’s nest stadium was build for the event, which is still a major attraction today. New bar, restaurants, shops, and even entire downtown areas opened up. People who lived in Beijing at time noticed the amazing increase in local attractions. All these changes and economic activity happened because of one event. Pretty amazing!
Large events like the Super Bowl are definitely good for our economy which Bianca already stated (snacks, beer, sports gear, etc.) Having this event in New Orleans was a great idea in order to help boost their economy after Hurricane Katrina. These are definitely big money makers and we should continue to have these events in order to continue helping our economy improve.
ReplyDeleteOne of the economicsy things about the superbowl that's interested me over the past few years has been the role the internet has played in the advertising. It used to be that the superbowl was your big chance to see these "amazing" ads, but now, they're all on youtube months in advance. It also seems that some companies have started intentionally producing ads that are too risque for the superbowl so that they'll be rejected, they can put them online, and then they'll go viral.
ReplyDeleteI agree with everything that has been said. I think that events like these are one of the reasons why the United States has a huge economy. I think that the fact that the super bowl was in New Orleans increases the benefits of it and as a country we should continue to use our big money makers like our sports and our movie industry to aid areas that need an extra boost. It kills two birds with one stone by combining the values into business. I think we have only scratched the surface of the potential social and global problems that can be aided with the help of more exposure and public knowledge. It's something that we should try to do as a culture. We could really do some great things.
ReplyDeleteI think it is important to note that not all countries have benefited from hosting the Olympics. It is an incredibly costly thing to build and host. I am glad that Beijing has benefited from it though.
I think the price of Superbowl ticket might be just simple law of demand, rather than the effect of inflation, just like the flight ticket is way cheaper when you purchase it several months before than when you have to pay almost the whole price few weeks before. And yes, as everyone said, a big event like Superbowl totally boosts the economy and I think it was great idea to open it in New Orleans where needed some economic stimulus. And I guess more events like this will definitely foster the economy and should be held in the places where the help is needed.
ReplyDeleteWas anyone else unimpressed by this year's advertisement? Mostly a bunch of attractive women kissing unattractive men. Anyhow, I'm all for the economic stimulation and national pride. I think, more than any direct economic implications, these events help with consumer confidence.
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