Thank You to All of Our Season Ticket Holders

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In pro sports, an 80 percent renewal rate is considered good performance. People move to another city, an account holder passes on (sad to say), someone can no longer afford tickets for an economic reason, or they simply don’t like the team any longer, so they cancel.

 

This means a franchise has to deal with what is called “churn” – and sell new season tickets to replace the canceling season ticket holder accounts – and then hope to sell season tickets above that amount to show growth in attendance.

 

80 percent is considered a good renewal rate and 90 percent is considered excellent performance and a show of customer satisfaction and of value.

 

I am pleased to report that we are now at more than 93 percent renewals for the Washington Capitals season ticket base for next season; and I believe when all accounts are finalized, we will be at 94 percent – and the Washington Wizards look like they will reach an 85 percent renewal rate.

 

I am very grateful to you all for believing in us and for renewing your accounts with us; Thank you so much.

RMNB – Playoffs by the Numbers

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I just had the chance to read this one; and I thought some of these stats were telling. Click here.

 

The one that gets me is the lack of power play opportunities – mostly because of lack of puck possession by us. In our last game, we had one power play opportunity – and it was probably the worst executed power play by us of the season.

 

In the playoffs – because of the abundance of one goal games – of which we played in 13 out of 14 games – power play goals make all of the difference. Penalty killing and capitalizing on power plays are key in playoff hockey. In 14 games played – in two series – the total goal differential in both series combined was minus 1. So close yet so far.

 

Thank you for the good reading here.

Groupon Q1 Earnings Announcement

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As many of you know –  I have been involved with Groupon for a long time – and serve on their board of directors as Vice Chairman.

 

Yesterday, we announced financial results for our first quarter of 2012. Here is a link to the press release – in an unfiltered manner for you to read and digest.

 

Here are a couple of highlights: The company’s gross billings grew 103 percent to $1.35 billion compared to the same quarter of 2011.

 

Revenues increased 89 percent to $559 million for the quarter compared to year ago results for the same quarter.

 

Operating profit was $39.6 million. Operating cash flow increased 367 percent to $83.7 million; and the company now has $1.2 billion of cash on its balance sheet without any long term debt.

 

Read the release if you are interested in how the company is doing without any valued added analysis by bloggers –  just the numbers. Thank you.

Thanks Dale – Disappointed but Thankful

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Dale Hunter has decided to return to his family and family-run businesses in London, Ont., and not continue to coach the Capitals. It was a tough decision for him, but one we all knew was possible when Dale was hired in November. Family supersedes everything for him, and we respect his decision. Dale is forever a Capital, and we wish him and his family all the best. For interviews with general manger George McPhee, Dale Hunter and our players, visit WashingtonCaps.com.

 

Thanks to all of our wonderful fans who were so supportive of our team and rocking the red in the DMV as well as around the world during the season and playoff run. Playoff exits always are painful and disappointing. A Game 7 defeat brings the season to a stunning halt, so close to the next round but shy of your goal. The Verizon Center was electric and the atmosphere around the city and neighboring communities was so positive. I don’t think the Verizon Center has ever been louder than this year, especially in Game 4 against Boston and Games 4 and 6 against New York.

 

I had so many positive experiences and encounters the past few weeks; it felt like the entire region was behind us. There just seems to be far more buzz and interest in our team – it’s tremendous to witness and experience. I’m sorry we didn’t advance further in the playoffs for you.

 

As I noted the other day, winning in the NHL is extremely difficult – only three teams that advanced to the second round of the playoffs a year ago did so again this season (Nashville, Philadelphia and Washington). None of those teams are advancing to the conference finals. It certainly isn’t easy, but I believe we were a better playoff-prepared team this year as our players demonstrated great determination and composure. (We didn’t lose two consecutive games since March 23, and we were 6-0 after loses in the playoffs.) They became unbelievably resilient, and I’m proud of them and their effort. I firmly believe we are a better team now than we were a year ago. We had a solid playoff performance, and I’m encouraged about our future.

 

We will continue to analyze and dissect our season, compare it with our goals and examine our strategies. This is a process – decisions will be not be made when emotions are raw. We will take a comprehensive look at where we were when the season began, what transpired through the 82-game regular season and where we ended up. We know where we eventually want to be – and we will determine what adjustments need to be made to get there.

 

That analysis and conversation starts today. George and Dale will meet with players as part of our exit-interview process. We will collect that information, and Dick Patrick, George and I will begin a series of strategic meetings.

 

I was appreciative of the coverage our local media provided during the playoffs and thought it surpassed that of previous years in not only quantity of coverage but also quality.

 

Comcast SportsNet’s coverage was spectacular – even after they were prohibited from televising games, they had a strong commitment to pregame and postgame shows as well as numerous news segments and online content. There were significant playoff coverage commitments made by The Washington Post, The Washington Times, The Examiner as well as our local TV network affiliates (NBC 4, Fox 5, ABC 7, WUSA 9). This morning ESPN 980 had a two-hour special, 106.7 The Fan had significant chatter, WTOP had live interviews, and I know there was plenty of other commentary through various digital media outlets. We might not always like and agree with what is written or said, but we appreciate the increased commitment media made in covering our team.

 

Next up – a series of strategic meetings, June 22-23 draft (we have two selections in the top 16), July 1 free agency … and a coaching search. We will be busy – stay tuned.

 

 

 

Here We Go

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To Madison Square Garden–  in NYC – the media capital of the world.

 

In the self professed “world’s most famous arena.” A place where the NY Rangers have never lost a game 7 playoff game.

 

This is so much fun for our team and our franchise and our fans. I am calm and look forward to attending the game with my family and our partners. These are the kinds of moments we strive for – and plan for and look forward to as fans of this franchise.

 

Thank you for watching tonight – thank you for being such great and loyal fans. Thank you for your supportive emails and notes and personal messages.

 

Here we go – game 7. Drop the puck.

 

Read the pixels; enjoy the game and embrace the moment. Go Caps!