The Cincinnati Reds are back in business with fans in the stands once again at Great American Ball Park. But the COVID-19 pandemic took a big toll on teams in 2020, as many lost ticket, food and merchandise revenue when state restrictions cancelled many games and prevented packed houses.
PennBets, a gambling news and information website, recently analyzed just how much money the Reds and other MLB teams lost last year in gate revenue. The site estimates that the Reds missed out on $43,697,829.60 in 2020, based on ticket prices and attendance from 2019, when full capacity was last permitted in stadiums.
Cincinnati fared well in 2020, compared to other MLB teams. It ranks near the bottom of PennBets’ loss list, with just six teams losing less. Still, $43 million isn’t exactly pocket change.
Additionally, the Reds missed out on $539,468.64 in revenue per game last year — again near the bottom, but still a blow for a city of this size.
But the teams with the biggest losses surely are feeling the pinch now. The Los Angeles Dodgers gave up more than $183 million in sales in 2020, the most of any MLB team. The Chicago Cubs were next with a $179 million loss, followed by the Boston Red Sox with more than $175 million — a lot of hot stove money.
Overall, MLB is hurting because of the pandemic, PennBets says, with the top 10 teams accounting for more than half of the league’s losses last year. PennBets estimates that the MLB lost nearly $2.5 billion during the 2020 season.
Now that the Cincinnati Reds are playing to crowds once again, the team is working keeping fans around. The Reds are offering discounted tickets to those who have received at least one dose of a COVID-19 vaccine, plus there are plenty of fun take-home items throughout the season. (See the Reds’ COVID-19 safety precautions.)
Just don’t forget to drink up, Cincinnati. You know. For the team.
See PennBets’ full revenue breakdown on PennBets.com.
