Supply & Demand and Demographics
of Super Bowl XLIX (49)
A. Supply & Demand What determines the price of a good or service?
Explain what the economic term Supply & Demand means by using either of the Super Bowl examples below.
a. Explain why NBC can charge between $4 and $5 million dollars to advertise during the Super Bowl.
b. Explain why 3rd Party Super Bowl ticket vendors (Stub Hub, NFL Ticket Exchange) can charge so much for a Super Bowl ticket.
B. DEMOGRAPHICS: Human statistics of a region.
“Super Bowl commercials have to appeal to a wide demographic.”
Explain what the word demographic means and why this is the case.
ALSO:
1. Explain what Supply & Demand means with an example of your own.
2. Explain what demographics are with an example of your own.
· Google each of these terms if necessary.
http://www.usnews.com/news/blogs/data-mine/2015/01/29/6-numbers-you-need-to-know-for-super-bowl-sunday
4 Numbers to Know for Super Bowl Sunday
Football is a game of numbers. Here are the ones to know before Sunday's matchup between the Seahawks and Patriots.
By Andrew Soergel Jan. 29, 2015 | 12:56 p.m. EST + More
An estimated 184 million Americans are expected to watch Super Bowl XLIX – or 49, for the non-Roman football fans – on Sunday,according to a survey by theNational Retail Federation.
Nearly 43 million people plan to hostSuper Bowl parties across the U.S., and about 13 million people are expected to travel to a local bar or watering hole to catch the game.
While the most importantSuper Bowl statistics are achieved on the gridiron itself,other figures surrounding the game hold plenty of weight as well.Check out these six primary numbers you need to know going into Super Bowl Sunday.
$14.31 billion: Estimated Super Bowl-related consumer spending
Consumers are expected to shell out more than $14 billion this year in relation to Super Bowl XLIX, according to the National Retail Federation andStatista, an online statistics portal. That includes spending on foodand drink, decorations, and merchandise and apparel,and is an increase ofalmost $2 billion from 2014’s $12.37 billion spending benchmark.
The average Super Bowl viewer is expected to spend a record $77.88 in relation to the game. Young adults between 19 and 24 years old are expected to spend an average of $95.92, while the 25- to 34-year-old age bracket will spend $101.54 apiece. Those between the ages of 35 and 44 years old will likely be the biggest spending demographic, with an average spending projection of$102.82.
$4.5 million: Estimated cost to run a 30-second commercial
Consumers aren’t the only ones spending on the Super Bowl. Companies planning to run a 30-second advertisement during the game will have to part with a reported $4.5 million, according toVarietyandSuperBowl-Ads.com. That’s up from about $4 million last year and $3.8 million in 2013. And while that may seem like a overwhelming figure for a 30-second time slot, NBC announced earlier this week that it had sold out all of its scheduled commercial time during the game.
Super Bowl commercials have established a history of pulling out all the stops, and a substantial number of viewers list the ads as a primary reason for tuning into the game. About 47 percent of viewers say the actual football game is the most important part of Super Bowl Sunday, according to the National Retail Federation, while 41.3 percent of those surveyed said commercials and spending time with friends and family are the most important parts of the day.
About 12 percent of those surveyed listed the halftime show as their favorite part of the Super Bowl.
$10,375: Lowest price for a Super Bowl ticket on theofficial NFL ticket exchange website, as of Thursday
There wasn’t a single ticket available for the 2015 Super Bowl in Glendale, Arizona, for less than $10,000 three days before kickoff, according to Ticketmaster’s NFL Ticket Exchange. The maximum ticket price exceeded $21,000.
Tickets to thevery first Super Bowlin 1967, meanwhile, cost between $6 and $12, and there were reportedly 33,000 empty seats.
2,500 GB: Approximate data use at MetLife Stadium during last year’s Super Bowl by AT&T and Verizon smartphone users
AT&T customersuseda reported 624 gigabytes of data during last year’s Super Bowl, which equates to about 1.8 million social media posts with photos. Verizon smartphone users, meanwhile, sucked up about 1,900 GB of data.
The combined 2,524 GB of data used by customers of these two major service providers is equal to about 640,000 MP3 downloads, more than 73 million plain-text emails or more than 107 million text messages, according toComcast gigabyte calculations.
Which Sports Have the Whitest/Richest/Oldest Fans?
Surprisingly, Nascar'saudience has the highest share ofwomen. Not surprisingly, golf's fans have the highest share of seniors.
Derek Thompson Feb 10 2014, 10:51 AM ET
Themost-watched televisionevent in U.S. history was this year's Super Bowl. The same was true of the Super Bowl in 2012. And in 2011. And in 2010.
But the supermassive audience of the final game is just the capstone on football's monopoly of the little screen. NFL games accounted for 34 of the 35 most-watched TV shows last fall, according to TV by the Numbers. Football dominates the world of sports, and live sports dominates the world of television. It's no wonder, then, that the Super Bowl stands apart from the rest of television like a Petronas Tower airlifted into a suburb.
Although sports account for just barely 1 percent of all TV programming, it accounts for 7 percent of the total cost of pay-TV, and 50 percent of the of Tweets about television, according to Nielsen's 2013Year in Sports Media Report. We can go on and on about how sports programming has become central to the business model of live cable TV (and therefore a central driver of the cost of cable), but that's for another day.
Today, let's look at TV demographics. Yes, the NFL is the most-watched sport. But which sport's audience is richest? Whitest? Youngest? Fortunately, Nielsen tracks that data, too. First some highlights, then the graphs. (Note: Nielsen's survey figures are heavy on older, whiter audiences, since they're more likely to own a television and pay for cable.)
· Major League Baseballshares the most male-heavy audience, at 70 percent, with the NBA.
· The NBAhas the youngest audience, with 45 percent of its viewers under 35. It also has the highest share of black viewers, at 45 percent—three times higher than the NFL or NCAA basketball.
· The NHLaudience is the richest of all professional sports. One-third of its viewers make more than $100k, compared to about 19 percent of the general population.
· Nascar'saudience has the highest share ofwomen (37 percent) and highest share of whitepeople(94 percent).
· The Professional Golfers Associationhas the oldest audience by multiple measures: smallest share of teenagers; smallest share of 20- and early 30-somethings; and highest share of 55+ (twice as high, in the oldest demo, as the NBA or Major League Soccer).
· Major League Soccerhas the highest share of Hispanics by far (34 percent; second is the NBA at 12 percent) and the lowest income of any major sports audience. Nearly 40 percent of its fans make less than $40k.
· The NCAAdemographics for football and basketball are practically identical but they are surprising old (about 40% over 55+) and surprisingly white (about 80%), which clearly has as much to do with who owns a TV rather than who follows the sports