The Baltimore Ravens officially announced they are raising ticket prices in 2017, one day after the team unveiled a massive renovation project at M&T Bank Stadium.
The exact amount of the price change will range from 4.7 percent to 10.3 percent depending on where the seats are located. The price increases will bring an 8 percent growth to the Ravens’ ticket revenues, according to the team.
This marks the first time the Ravens have increased ticket prices since 2013.
The Ravens' website indicated the team was in the bottom half of the league in ticket prices during the 2016 season. According to the Team Marketing Report, the Ravens' average ticket price of $112.11 ranked No. 8 in the NFL in 2016. The league average was $92.98.
"Since our last ticket price increase in 2013, we have invested $45 million of our funds to make improvements at M&T Bank Stadium, including advanced Wi-Fi capabilities for fan use, redesigned concession stands, concourse upgrades and LED board advances," Ravens senior vice president of ticket sales Baker Koppelman wrote in a letter to season-ticket holders.
On Tuesday, the Ravens detailed a $144 million improvement project for M&T Bank Stadium, which will include larger end zone video screens, escalators to the upper deck, a new sound system and new video boards in the corners of the upper level.
From 2001-09, the cost of Ravens tickets increased every other year. But the Ravens had only raised ticket prices once in the previous eight years.
The last time occurred after the Ravens won a Super Bowl. This time, the increase comes after Baltimore failed to make the playoffs in back-to-back seasons.
At the end of the season, Ravens owner Steve Bisciotti was asked about the increasing number of empty seats at M&T Bank Stadium and whether he was concerned about fan discontent.
“I’m always concerned,” Bisciotti said. “I said apathy is the worst emotion in the past. There’s a lot more disappointment and anger than apathy. So I don’t think we’re at a critical stage there. But the fact that our renewals have always -- good times and bad -- even back in the ’04, ’05, ’06 area, our renewals are always in the 97 1/2 to 99 percent, and then we have other people willing to buy those PSLs. So we’ve kind of been through the same slump. Let’s face it, you talk about people moving out of town and people divorcing and giving up their tickets. So we’ve never seen the fluctuations based on our success.”