I read this article in USA Today last week and approached a few of my clients. The response has been received well and most of these events will embrace the idea. For additional ideas and to successfully implement this idea give us a call, one of our events came up with a very clever idea. Fans who can't pony up the bucks for a colossal music festival touting big acts on multiple stages have an alternative.
Pay in multiple stages.
Layaway plans, recently resurrected by Sears and
other retail chains, will be available to consumers who buy tickets to
several 2009 festivals, including the Coachella Valley Music and Arts
Festival. It returns April 17-19 in Indio, Calif.
After the indie-rock fest lineup is unveiled
this week, fans will have two options besides money up front when
buying a $269 three-day pass: pay half down and the rest April 1, or
pay 10% followed by equal installments on March 1 and April 1 without
interest or additional fees. The plans are sold only online and aren't
available for $99 single-day admission.
Layaway systems already are in place for the
Stagecoach Country Music Festival, Country Thunder USA and the Bonnaroo
Music & Arts Festival, which offered an installment service last
year.
The struggling economy prompted the expansion,
"though we probably should have been doing this all along," says Paul
Tollett, Coachella founder and president of concert promoter
Goldenvoice. "It's great for people who want to go but don't have all
the money at once. When we did it for Stagecoach, 24% of people picked
layaway, which is eye-opening. So we're doing it for all our festivals."
Fans can expect layaway choices at the All
Points West Music & Arts Festival in Jersey City, Rothbury Festival
in Michigan and the Mile High Music Festival in Commerce City, Colo.
The system, which entails higher processing
costs, is best suited for large general-admission festivals, not
reserved-seating arena shows with smaller staffs, Tollett says.
Though there is a risk for fans (having their
order canceled and losing their deposits if they default on payment),
layaway boosts the allure of festivals, says Ray Waddell, Billboard's touring editor.
"For the big festivals, the cost-per-band is a
bargain," he says. "And the overall experience offers a lot of value.
Still, producers would be crazy not to react to what is bound to be a
more price-sensitive market this year."
Spreading a hefty cost over a period of weeks or
months naturally appeals to buyers on tight budgets, Waddell says.
"Just ask QVC."
Printed originally in USA Today January 26th 2009For additional information regarding the economy and your event contact:
Jack Thibault, President
TEA Productions, Minneapolis, MN.
612-543-1384
Email contact:
thibault@teaprod.com