Virtus Entella is the first Italian football team to introduce dinamic ticket prices.
Ticket prices for home matches will change based on a number of key variables (time of purchase, quality of the away team, weather conditions and so on) within an overall range of 40%, in the same way as airlines, hotels and cinemas sell tickets nowadays.
This new system, devised by Dynamitick, will be implemented starting from the second leg of the Italian Serie B championship, on the day of the match between Virtus Entella and Frosinone, scheduled for January 21st 2017, and it will apply to tickets purchased at Chiavari Municipal Stadium (GE), by authorised retailers or online (on www.entella.it).
Wylab, the first Italian incubator specifically focused on new technologies applied to the sports industry, fostered the contacts and made this agreement possible.
The cost of tickets is calculated depending on dozens of factors, crossing variables that include the time of the match, weather conditions, goal expectancy, how far in advance people buy their ticket and how reputable the away team is.
All of these aspects are scientifically analysed by the artificial intelligence algorithms designed by Dynamitick—Italy’s leading company in dynamic pricing solutions—through the application of a technology specifically devised for the Italian sports sector.
Dynamic ticket pricing is the most innovative ticket sales model: prices are modulated by algorithms that adapt to market demand, sales results and fluctuations in specific variables, hence offering the possibility to increase attendance and reduce unsold tickets.
It has found fertile ground in the international sports industry, where it is now widely spread and it represents an effective business model, especially in professional sports and in American college championships.
A winning formula that Dynamitick first applied to the cinema sector in Italy, allowing partner movie theaters to record in a few months a substantial increase in attendance and revenues, thanks to the cutting-edge technological solutions that the company provides.
Since the launch of the project in May 2016, cinemas that have adopted a variable price strategy have seen a 15% increase in spectators and 13% in revenues.
Matteo Matteazzi, General Manager of Virtus Entella, says: ‘We signed a collaboration with Dynamitick with the intention of getting closer and closer to our supporters, trying to give them the opportunity to purchase tickets at the most suitable price on each distinct event.
The Dynamitick algorithm will produce price fluctuations that will be closely and constantly monitored by our ticket office, with the aim of rewarding those who follow our team with passion and loyalty; we hope that our supporters will find this system useful and valuable and it is our wish that it will further encourage them to attend a football match at the Municipal Stadium, enjoying easy accessibility, fair pricing, a homely atmosphere and the performance of our boys.
We had an instant connection with Dynamitick, a young and ambitious company we are really proud to be working with, acting as forerunners in the Italian football world’.
Federico Quarato, CEO of Dynamitick, expressed his satisfaction: ‘We are proud to announce our new agreement with Virtus Entella, which marks our entrance into the football market.
We hope that this partnership may pave the way to a comprehensive renovation of the ticketing system in the Italian sports industry.
The reason for this condition lies in the significant drop in attendance at stadiums and sports halls.
A major cause of poor attendance figures is an incorrect pricing approach.
Selling at the right price means restoring a transparent relationship with supporters’.