Barclays Center: Growing Pains and Lessons Learned

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Sept. 30 (Bloomberg) -- Bloomberg’s Stephanie Ruhle takes you inside the business of the Barclays Center in Brooklyn, New York with Brett Yormark, CEO of the Barclays Center and Brooklyn Nets, as the arena celebrates its one-year anniversary. They speak on Bloomberg Television’s “Market Makers.”

Its first ever ice hockey game.

I got to spend some time with the barclays center ceo, brett yotmark, and talked about building the new iconic arena.

-- yormark, and talked about building the new iconic arena.

To brandy center and obviously to drive the economics.

I think we have had an incredible first year.

We can certainly get better.

Are you liking what you are seeing?

Love it.

We now know how the building behaves, how to stop it more efficiently.

It takes 12 months to understand the dynamics of the building.

We are looking for anywhere between 15% and 20% cost savings for next year.

Where will you cut those savings from?

We over staff on the full- time and part-time.

80% of people are coming in from the front entrance.

To have staffing levels at the other entrances, we do not need that anymore.

We can deploy them to the front entrance.

We do not need to market as much.

When we launched a year ago, we spent considerable dollars branding the center as a destination.

We have now arrived and we do not need to spend those dollars.

Why did you want to bring hockey to the barclays center?

It is a niche sport, it is expensive for you to reconfigure the arena for hockey.

When you can have two major franchises that can produce you close to 90 guaranteed dates a year, that is good for the balance sheet.

If you just about tonight, the first preseason game of the year.

We have sold over 13,000 seats.

24% are coming from brooklyn.

There is a built in hockey fan base.

Our research validates that.

We think this team will be very successful here.

Coming off the heels of making the playoffs for the first time in 17 years, they are bringing a great product.

Do you need to increase the number of events?

Our goal was volume.

Let's test a couple of things.

As we look at your two, we look at certain things differently.

One thing that we want to do is have big events.

When you think about the stars that came here this year, those are the ones that really matter.

We did raise our ticket prices in your two.

After giving everyone a sampling opportunity, we had to raise tickets, and we did.

It is all about the customer engagement and making them feel really good about the experience here and them wanting to come back.

They have to be treated the right way.

Our goal from day one was to make every fan feel like a celebrity.

I was there at the one-year anniversary, but it is interesting.

This text has been automatically generated. It may not be 100% accurate.

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