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StubHub President on Teams Opting Out of MLB Deal

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    StubHub president Chris Tsakalakis on the renewal of their partnership with MLB.

  • Duration 5:02
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Major League Baseball renewed it's contract to with a ticket site stub hub to continue -- -- official site for secondary tickets.

But the thing as we mentioned this couple times this -- not all of the big teams in the week.

Are on board and Chris talk a -- is the president of stub hub is kind enough to join DC talk about this some -- this year excited Chris said -- five year deal.

Major League Baseball but the the idea of the Yankees have opted out that the cubs have opted -- the news of big.

Big time -- -- cells LA angels as well opting out.

-- -- -- -- Well.

I appreciate your bringing up our renewal of our partnership with Major League Baseball for another five years we think that's fantastic and obviously they're you know they're thirty teams in Major League Baseball for a while be great to have all -- then -- well three opt out at least for this first year.

That's it's understandable I should be clear about what opting out means because.

We are the official fan to fan ticket marketplace of MOB dot com and 427 -- the other teams and what that means is we're electronically integrated.

That -- a seller sells a ticket through stuff.

-- it it's validated by the initials ticketing system and think it's a letter to the buyer and also means that the -- support us in marketing.

We will continue to sell yankees cubs and angels tickets on -- -- even without that then opting in OK we'll just deliver tickets differently -- truth is we have.

There we have we cover all the other professional sports we don't have partnerships with every team but were able to be the biggest and the best across professional sports despite not being integrated with -- -- Thinks it brings up is the business cut the business model on your competition with him -- ticket -- whoever.

If -- say wanna go to Yankee game here in New York.

NM and -- team is playing tomorrow night you know that was in season I might sit mess it wanted to wait until the last possible minute.

I don't get you know some rock bottom price nonstop puzzle a lot of people do -- the Yankees -- quit now we don't want people doing that we'd rather people buy their tickets early.

You know we'd rather the we we don't want people -- know that they can get the ticket for next to nothing at the last minute.

But the minimum is not there are so how do you correct that -- problem if it is a problem.

Well we don't think he's really a problem if people want to wait -- last minute get the best possible price I think.

Consumers will always want to get the best possible price.

How will will do in the case of the -- cynicism that seems interest necessarily are they don't they don't they'd rather sell those tickets right away and -- people.

You know they'd -- -- the -- sold up -- maybe you would even drive season ticket sales hire people knew they couldn't get those last minute deals.

I think that would be ideal for the team but the reality is that as you know.

Stub -- is a marketplace we bring buyers and sellers together.

The tickets on sale on stub hub are actually owned by sellers are not owned by stub hub and as a result those sellers.

Price those tickets and market price those sellers are trying to maximize the price -- they can get but they're competing against.

Other sellers as well so the market determines the price we don't often.

How well the team plays or what the weather is like determines prices as well I think the issue from what I've -- That the Yankees have is that the market prices the -- an appearance on -- -- sometimes lower than the face value of their -- yes and as I said I don't central market prices right well they can be and in other cases there they're not.

But now they get there we have to gonna say I'm sorry -- this candidate -- -- -- -- but they indeed.

You know again to go back to this issue I think it's interesting because of -- -- teams followed that another -- and you get a similar model.

You could lose out a lot -- -- how much your revenue let me ask -- this way is the Yankees the cubs you Major League Baseball revenue yankees cubs and angels are three big -- -- And are you still sell the tickets possibly.

That's a lot of revenue what percentage and where.

I can't tell you the exact percentage I'll I'll tell you that baseball is that as a very important part of our business the Yankees are the Yankees cubs and angels are actually important.

Obviously important teams within baseball but again.

As I said.

We have all the other league's NFL and -- NHL they have official partners with other people with positive yankees 40% of your revenue is -- -- high wanted yes you know tweeted that I'm now close of that.

Now is -- idea is nothing major but overall baseball overall isn't 40% or revenue no -- all of your Major League Baseball revenue I'm Diana and there now.

Now there isn't a single team there isn't a single team that's more than a few percent if you -- -- -- silly but you lose out on three big cities but you get the rest of and I thought I guess there really -- we we will -- Tons of yankees cubs and angels take its next -- it's not like we're gonna lose out.

There's not that that the market goes away at all if if that's not not gonna happen in the NFL.

Every team is integrated with one of our competitors and we are still be largest marketplace for NFL tickets as an example.

So despite the integration center competitor has we are still the largest marketplace for NFL tickets no one beats us.

They are competitor who has integration not even close and they've had -- for over five years got it okay that -- wanna give you -- I get analysis done lots of good point I -- an idea he's angels and cuts tickets got and you still be able to do that's I would take that SN dot thanks for -- against sort of -- -- really gotta go now Chris -- a -- to -- -- appreciate it.

Thank you come -- right.

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