David Stern expects minor drop in NBA's revenue 26/10/2009 |
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NBA revenue will fall in the coming season but the recession should not bite too hard, commissioner David Stern said on Friday.
Stern said the attempts of teams to draw in fans through reduced ticket prices would work but would have a knock-on in terms of sales revenues.
"We know that we'll be challenged by the economy, as all businesses and sports are, and (we know) that our revenues may be slightly decreased because many of our teams are reaching out to their communities and moderating their ticket prices by either keeping them the same or actually dropping them," he told a teleconference.
"So although we expect a season of robust attendance, probably easily within our top five, and our fans will be treated to competition that is really unique, we think, like everybody else, we're going to have to fight our way through the season with respect to the economy."
Stern said the season ticket renewal rate was down from 79 percent to around 76 percent.
"Our biggest task is to make sure that our television ratings continue to grow and that our revenue declines in the smallest possible way," he said.
"We think there is a good reason to hope that (the) decline, despite ticket price discounting and cutting, is going to be under four percent. We'll see how that comes out.
"All in all, we think we're going to be okay this year but we have to face the reality that joblessness has increased, mortgage foreclosures have increased, various markets are in difficult space. But I think we will be viewed as relatively recession resistant."
The new NBA season tips off on Tuesday.
(Source: Reuters)
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