The US and Mexico are out of the World Cup. Ticket prices are plunging
By Jordan Valinsky, CNN
New York (CNN) — The elimination of the United States and Mexico in the World Cup is proving to be a win for fans looking for a deal on tickets.
For Friday’s battle between Spain and Belgium, prices have plunged 65%, according to TickPick, a secondary ticket marketplace. The United States would have played in the game if it had won earlier this week.
Before the United States’ loss on Monday, the cheapest ticket hovered around $3,200 on TickPick. Prices have dropped significantly since then, to $1,100 for the afternoon game in Los Angeles.
As for Mexico, their loss on Sunday against England sent prices down 45%, TickPick said. Prices for the cheapest tickets were nearly $4,000 but have since declined to $2,000 for Saturday’s showdown in Miami.
“Quarterfinal tickets were priced with the expectation that both Mexico and the US would advance,” Brett Goldberg, TickPick co-CEO, told CNN. “When they lost on back-to-back days in the Round of 16, there was an immediate and significant drop in demand for their respective quarterfinal matchup.”
Canada was also eliminated last week, meaning all three host countries are out of the World Cup. But the losses of the United States and especially Mexico are bad business for Tom’s Watch Bar, a sports bar with 18 locations in the United States.
Brooks Schaden, co-founder and co-CEO of the chain, said that days featuring the Mexico and the United States were “massive lifts” for the company. He now forecasts business on World Cup days will decline 50% with the two countries out.
Notably, the Mexican team was a bigger draw compared to the US for its restaurants, with its fans spending more money and time at Tom’s Watch Bar locations, Schaden said.
“Quite frankly, price was no object,” he added.
But it isn’t all bad news for Tom’s Watch Bar: Revenue on the remaining game days will still be 25% higher compared to non-World Cup days.
And regardless of who’s playing, beer is benefiting.
Sales of beer at bars and restaurants jumped 6.4% over the past four weeks, according to the Beer Institute. In host cities, beer sales jumped 14% compared to the same time period a year ago.
In Massachusetts, where Scotland fans drank Boston dry last month, the state had the strongest sales growth of 23%, following by the New York metropolitan area at 19% and California at 14%.
“The US team’s run helped build excitement, but the data show this tournament is bigger than any one team,” Andrew Heritage, chief economist at the Beer Institute, told CNN. “We expect that momentum to continue through the final with fans prioritizing sharing a beer when they gather.”
The-CNN-Wire
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