NEW CONCERT PROMO TACTICS
HOW PROMOTERS ARE HOPING TO KEEP THE EXPERIENCE ECONOMY BUBBLE FROM BURSTING
As they gear up for the upcoming spring/summer concert season, promoters and festival organizers are looking to new recession-minded sales strategies. The good news for the industry is that when it comes to how they're budgeting their shrinking incomes, young consumers are still placing a high premium on experiences over material goods. While increasingly prohibitive ticket prices may be daunting to consumers, new payment plans and "gifts with purchase" may help soften the blow:
Catalog Downloads: Incentivizing fans to come to their upcoming reunion tour, No Doubt is offering a free digital download of their entire catalog with purchase of full-priced tickets ($42.50). Not only will the gift help get fans pumped for the live show, but should the band release a new album, it will also help them remain on the radar of more casual fans who wouldn't typically have them in heavy rotation.
Layaway Plans: Retailers aren't the only ones reviving the old school layaway plan. A number of music festivals are also giving concertgoers the opportunity to pay in installments. Coachella attendees who purchased the $269 tickets prior to the end of February had two layaway options. They could pay 50% upfront (plus Ticketmaster fees), then have the remaining amount automatically deducted on April 1. Or, they could pay 10% upfront (also with the additional Ticketmaster fees), then have the rest deducted in two equal installments on March 1 and April 1. Similarly, Bonnaroo attendees who purchased the $249.50 (plus fees) tickets by the end of last month could pay in five $50 installments.