The most in-demand teams that fans want tickets for are the Los Angeles Lakers and the New York Knicks.
The National Basketball Association season tips off next week and ticket sales are up 60% compared with this time last year, according to data from ticketing giant StubHub provided to MarketWatch. This is part of a growing trend by consumers who are willing to spend a lot of money on experiences.
Some of that interest may be related to many of the best players in the NBA coming from countries other than the U.S. — the last five MVP awards have been won by Nikola Jokić , Giannis Antetokounmpo , and Joel Embiid . Americans spent $36 billion on in-person sporting events in August, compared with $29 billion the year before, according to the latest Bureau of Economic Analysis data.
The concept, known as “funflation,” refers to the boom in consumer spending on entertainment and experiences, with the high demand running up the cost of enjoying those experiences. Pop culture icons like Taylor Swift and Beyoncé are leading the way with their coveted global tours. Beyoncé’s “Renaissance World Tour” is expected to generate $560 million in revenue, while Swift’s Eras Tour could be the first to gross more than $1 billion in revenue, according to estimates.
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