I cannot see why not.

Starting with a definition of Revenue Management: selling the right product to the right customer at the right time for the right price and with the right pack. The essence of this discipline is in understanding customers' perception of product value and accurately aligning product prices, placement and availability with each customer segment.

I graduated in marketing in the mid 1970s. By then this approach was called the 4Ps strategy. Catchwords change but the concepts remain the same.

So what could a vendor of sporting events bundle to add value to (differentiate) his/her offer? Some that come in mind: (a) a short musical or theatrical show before the match; (b) sell fan collectibles at very reduced prices or distribute them as giveaways; (c) a multiple talented famous athlete singing, dancing or playing an instrument; (d) a famous comedian telling some new jokes at intermission, transmitted at the large screens; (e) distribute a smartphone and/or iPad app that can capture closed TV transmissions of the game/event or of special offers by sponsors (which can be purchased only during the event).

The same kind of thinking would apply to performing arts events. Brainstorming sessions should lead the way :-) Think about Cirque du Soleil and its new competitor La Rève.

Good luck

Tom

By the way Andrea, my forefathers were Venetians ;-)

Yes, of course it applies -- have a look at the paper with Sherri Kimes -- see:             Sheryl E. Kimes and Jochen Wirtz (2015), “Revenue Management: Advanced Strategies and Tools to Enhance Firm Profitability,” Foundations and Trends in Marketing, Vol. 8, No. 1, pp. 1-68.

Revenue Management is applicable to these industries :-) As a starter, have a look at these papers:

-> related to circumstances in event-management:

Levin, Y.; McGill, J.; Nediak, M. (2008): Risk in Revenue Management and Dynamic Pricing. In: Operations Research, Vol. 56, No. 2, 326-343.

-> regarding football:

Barlow, G.L. (2005): Capacity Management in the Football Industry. In: Ingold, A.; McMahon-Beattie, U.; Yeoman, I. (Eds.): Yield Management; 2nd Ed., Continuum, London, New York, 303-314.

-> in sports and entertainment industry:

Duran, S.; Swann, J.L.; Yakici, E. (2012) Dynamic switching times from season to single tickets in sports and entertainment. In: Optimization Letters, Vol. 6, No. 6, 1185-1206.

Abstract: Revenue management can be used in many industries where there is a limited, perishable capacity and the market can be segmented. In this paper we focus on the sales of event tickets in the Sports and Entertainment industries, where tickets are sold exclusively as season tickets initially or as single events later in the selling horizon. We specifically study the optimal time to switch between these market segments dynamically as a function of the state of the system. Under Poisson demand processes, we find the optimal switching time is a set of time thresholds that depends on the remaining inventory and time left in the horizon. We use numerical experiments to show that significant profit improvements can be obtained by dynamically deciding the optimal switch time over the case when the date is announced in advance. We also study an extension where “early switch to a low-demand event” is allowed.

-> further references in this paper:

Courty, P.: An economic guide to ticket pricing in the entertainment industry. Louvain Econ. Rev. 66(1), 167–192 (2000)

Drake, M., Duran, S., Griffin, P., Swann, J.: Optimal timing of switches between product sales for sports and entertainment tickets. Nav. Res. Logist. 55(1), 59–75 (2008)

Rosen, S., Rosenfield, A.M.: Ticket pricing. J. Law Econ. 40(2), 351–376 (1997)

Sainam, P., Balasubramanian, S., Bayus, B.L.: Consumer options: theory and an empirical application to a sports market. J. Mark. Res. 47(3), 401–414 (2010)

Enjoy reading! All the best, Michael