PRESS RELEASE: “Atlanta Hawks, Atlanta Thrashers, Houston Rockets and Utah Jazz Select Qcue to Power Dynamic Ticket Pricing for 2010-2011 NBA and NHL Seasons”
AUSTIN, Texas (Qcue) August 16, 2010 — Qcue, the dynamic pricing engine for live entertainment events, today announced deals with National Basketball Association (NBA) franchises, the Atlanta Hawks, Houston Rockets and Utah Jazz as well as the Atlanta Thrashers of the National Hockey League (NHL). Already the chosen dynamic pricing solution for teams in MLB and the NHL, the Hawks, Rockets and Jazz mark Qcue’s entry into the NBA.
As the only fully integrated software-based dynamic pricing solution on the market, Qcue reduces the time it takes to re-price tickets from several days to just a few minutes. Sophisticated algorithms take into account playoff implications, weather, opponents, day of the week, real-time sales and other market conditions to determine the optimal price for each ticket once a price adjustment is determined.
“We believe that Qcue’s dynamic pricing system offers a versatile solution that is easy to use and flexible enough to meet the needs of both our NBA and NHL franchises,” said Tracy White, Chief Sales Officer and Senior Vice President, Sales and Marketing for the Atlanta Hawks and Atlanta Thrashers. “Sports market conditions are constantly changing and now we are able to quickly adapt to them while also providing greater value to our season ticket holders.”
“Qcue’s technology will ultimately allow our fans and consumer demand patterns to dictate single-game ticket prices,” said Christopher Dacey, Vice President at the Houston Rockets.
With Qcue’s dynamic pricing system, thousands of price changes take just a few minutes. The SaaS-based software solution helps teams analyze sales data and other external pricing variables, providing sales and revenue projections, as well as recommendations on setting the right price at the right time. Whether it’s a surprise playoff run or an MVP coming to town, teams are looking for ways to stay flexible to match ticket prices with the value of the experience.
“We are excited to move in the direction of dynamic pricing with Qcue,” said Jim Olson, Senior Vice President of Sales and Marketing for the Utah Jazz. “Dynamic pricing allows us to better price our tickets according to public demand. The Qcue system is a proven system that takes the guess work out of the process and provides us with the data to both service our fans and maximize our opportunities.”
Key features of Qcue’s automated pricing solution include:
-Push-button pricing – provides seamless integration from an organization’s back-end pricing system to its front-end ticketing system via APIs
-Analysis – compares dozens of price factors throughout a season, across venues and between seating areas
-Data modeling – provides flexible business views of past price performance, current sales activity and future sales projections
-Historical trending – captures cumulative price data for in-context analysis and improved decision-making
-Customized calibration – provides specific price recommendations based on data analysis
-Marketing integration – facilitates real-time updates to ticketing solutions and digital media services for an improved fan experience
Qcue’s software is currently being used by teams across multiple professional sports leagues, including Major League Baseball, the National Hockey League and NASCAR.
About Qcue, Inc.
Qcue is reinventing the primary ticket marketplace with the world’s only dynamic pricing engine for live entertainment events. Sports teams, concert promoters and venues use Qcue’s patent-pending technology to set the right price at the right time and provide the best value for fans, from the date of on-sale to the date of the event. Customers and partners include the San Francisco Giants, the Dallas Stars, International Speedway Corporation, Major League Baseball Advanced Media and Tickets.com. Founded in 2007, Qcue is based in Austin, Texas. For more information on Qcue, visit www.qcue.com.