The ROI of Pent-Up Demand: Knicks Mania and the Future of Media
6/9/202610 min
In this episode of the GaryVee Audio Experience, I dive into the madness surrounding the New York Knicks' historic run to the NBA Finals. I discuss the market dynamics driving ticket prices and why this is a case study in decades of pent-up demand. I also break down the "Barbell Syndrome" happening in business today: the parallel rise of AI and the exploding demand for live, analog experiences. Finally, we get real about why Fortune 500 companies have begun to focus on cultural relevance and organic social media.
You’ll learn about:
- The Rise of the "Barbell Syndrome" in Business
- How to Scale Business Results Using Organic Social Media
- The Impact of Pent-Up Demand on Market Pricing
- Self-Esteem vs. Insecurity in Fan Culture and Life
Clips
Transcript preview
First 90 secondsGary Vaynerchuk· Host0:00
Yes, I dislike those kids.
Speaker 2· Soundbite0:01
[laughs] That's my son.
Gary Vaynerchuk· Host0:02
Yeah, that- [laughs] I do not like your son. [laughs] This is the Gary Vee Audio Experience.
Andrew Ross Sorkin· Soundbite0:07
[click] New York Knicks, they have reached the NBA finals for the first time since 1999, and shares of Madison Square Garden Sports are at an all-time high. Joining us right now to discuss Knicks mania and the business around the NBA finals is Gary Vaynerchuk, uh, VaynerMedia CEO, Vayner, uh, X chairman. Good morning to you.
Gary Vaynerchuk· Host0:26
Morning.
Andrew Ross Sorkin· Soundbite0:26
Before you, when you came in, I said, "Did you get your ticks yet?" You said you haven't locked them in.
Gary Vaynerchuk· Host0:30
Yeah.
Andrew Ross Sorkin· Soundbite0:30
So what are you gonna pay for these things?
Gary Vaynerchuk· Host0:31
Whatever the market says I need to pay for them.
Andrew Ross Sorkin· Soundbite0:33
But sell- have you seen some of the prices?
Gary Vaynerchuk· Host0:35
No, I've missed it. Of course I've seen the prices.
Andrew Ross Sorkin· Soundbite0:38
Yeah.
Gary Vaynerchuk· Host0:38
I mean, first of all, let's talk about how diehard I actually am.
Andrew Ross Sorkin· Soundbite0:41
Yeah.
Gary Vaynerchuk· Host0:41
I'm going... I'm talking about Oklahoma City and San Antonio. I'm going to game one.
Speaker 2· Soundbite0:45
Wow.
Gary Vaynerchuk· Host0:45
I'm flying to game one.
Speaker 2· Soundbite0:46
Wow.
Gary Vaynerchuk· Host0:46
So first of all, I'm going to game one, where I have a funny feeling the tickets will be a little bit, uh- Cheaper [laughs] Cheaper ... cheaper.
Andrew Ross Sorkin· Soundbite0:52
Yes.
Gary Vaynerchuk· Host0:52
Uh, and then- Oops. What's that? Maybe. Maybe. [laughs] You know, I'm a Jersey boy from the streets.
Speaker 2· Soundbite0:56
You might have a price thing there.
Gary Vaynerchuk· Host0:56
[laughs] [laughs] Don't bougie me up. And, uh, yeah, it's fascinating to watch. And it really, you know, so much of what you all talk about here, market dynamics, it's interesting to watch play out. When there's that much demand pent up for two and a half, three decades, it's funny and shocking to see how it plays out in price.
Andrew Ross Sorkin· Soundbite1:13
What, what do, what's the highest price you've seen so far?
Gary Vaynerchuk· Host1:15
I think the, the last two days, right, was, uh, $250,000.
Andrew Ross Sorkin· Soundbite1:18
I saw something like that.
Gary Vaynerchuk· Host1:19
Yeah.
Andrew Ross Sorkin· Soundbite1:19
Yeah. What about all your collectibles?
Gary Vaynerchuk· Host1:21
Well, that's been great. I mean, my son and I, brother, others, like the amount of Brunson and Karl-Anthony Towns. I've been buying up Josh Harts and OG Anunobys,