What are the responsibilities of a concert promoter?
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What are the responsibilities of a concert promoter?
Concert promoters organize and present live music events, taking care of everything from booking talent and securing venues to setting ticket prices and marketing the show.
How do concert promoters make money?
Where do promoters make their money? In general, you will take money based on ticket sales – either splitting them at an agreed rate with the band, or by paying the band a set fee and then taking all of the ticket sales. In any case, it can be challenging, and – initially, at least – expensive.
Why do people pay so much for concert tickets?
The cost of travel, food and accommodations also adds to the ticket price. Smaller artists can tour smaller markets to keep costs down, but they will play smaller shows and therefore get paid less. And as ticket prices and venue sizes increase, the crew size generally increases along with them, adding to travel costs.
What do you need to become a concert promoter?
To succeed at concert promotion, you need to master the education basics. Reading: Concert promoters need to read a lot. Read about the music industry, marketing, and business. Reading (on whatever topic) is also a necessary skill to mastering the next skill.
Do promoters make good money?
As a club promoter, you might make anywhere from $100 to $1,000 per night to $10,000 or $100,000 per year.
How do you become a successful promoter?
Good promoters should:
- Understand sales basics and the 4P’s.
- Have deep insight of the product.
- Offer competent advice (how to prepare the product, how to use the product, product storage, possible side effects)
- Demonstrate excellent customer service.
Who is the most expensive concert?
The 10 Most Expensive Concert Tickets Being Sold Today
- P!
- Fleetwood Mac – $282.
- Roger Waters – $314.
- Justin Timberlake – $339.
- Eagles – $354.
- Maroon 5 – $364.
- One Direction – $420.
- The Rolling Stones – $624. This band tops our list.
How do independent concert promoters set ticket prices?
Independent concert promoters set the ticket prices based on several factors. After they estimate their costs, including the revenue they’d like to bring home, they set their budget. Estimating costs must also be carefully weighed with expected ticket sales.
Why do event promoters charge so low prices?
Event promoters, for example, are incentivised to sell as many tickets as possible so they can profit off sales of food, drinks and other concession stand items. This leads them to price tickets low.
Are event promoters over-valuing tickets?
One argument is that event promoters are risk averse, preferring the certainty of a guaranteed sell-out over the uncertainty of potentially over-valuing tickets. This fits with research that suggests people prefer to attend events in a packed-out venue, as opposed to a sparsely attended one.
Should there be a secondary market for concert tickets?
If tickets can only be bought at a single price on a first come first serve basis, then some people who really want to go will be left out. Secondary markets permit these mutually beneficial exchanges to take place. Online platforms for buying and selling tickets actually increase this allocative efficiency.