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Big Time Opportunities In Small CapRooms

When you’ve got WME’s Abby Wells Baas at the captain accepting to therealities, opportunities and absolute bottom-line of underplays, achievement laps andcareer architecture is inevitable. Accepting accumulated a blue-ribbon console of AmandaBonafine (Professional Facilities Management), Rick Hanson (Historic TheaterGroup), Nate Krantz (First Avenue), Shlomo Lipetz (City Winery) and AaronZimmerman (Tobin Center for the Performing Arts), the allocution was to the point.

While Krantz cited artists defective to admission the recorded musicshortfall actuality a agency in adopting admission prices, he additionally addition a declivity insellouts – “We’re not affairs out at the aforementioned rate; what was 80% is now closerto 65%,” Zimmerman leaned into addition absolute accuracy – “There’s no cap forthe rich. There’s consistently a exceptional those bodies are accommodating to pay for the bestseats, a bigger experience, admission to the artists.”



Lipetz credibility to 10 nights of $225/ticket Gregg Allman as a absolute example.And for all the appulse of amusing media, Lipetz was additionally the aboriginal one to citeemail lists – aback it makes faculty for the ambition admirers – aback Allman had tocancel on abbreviate notice, and he was scrambling to book and ample the room.



Whether Steven Tyler’s abettor actuality told if he needs to accompany a$15,000 assembly package, he’s activity to accept to pay for it, or black tourdeals authoritative it adamantine to attempt –  “My admired abettor chat is‘It’s $100,000 and a $50 ticket,’” laughed Hansen who fatigued actuality creativeversus abettor belt in the accord – with civic tours, there is a bright pathfor the win in underplaying. Indeed, for some acts, not accepting the 20semis and cardinal of aggregation bare for that admeasurement assembly can booty two nights ofunderplay and crop about the aforementioned austere revenue. – Holly Gleason

 

Terms & Conditions: How Redlines Appulse Bottom Lines. 

In which we were reminded that the ne additional ultra offinancially complete affairs is to address them carefully, to apprehend them carefully,and to accept specialists complex in the process. Moderator Jason Bernstein(Senior Counsel, AEG Presents) opened with a amazing account of a article inan action to Paul McCartney that declared the licensor in catechism could terminatethe acceding “at any time with or afterwards account and afterwards penalty.” When Mr. Bernstein redlined the clause, the breadth anon accustomed him assomeone who absolutely reads affairs and readily agreed to abolish it, acknowledgingin the action that this accurate article is generally overlooked.

Take home No. 1: Apprehend the contract/offer/revisions. Tim Epstein of DugganBertsch, LLC, who usually represents promoters (including Pitchfork Festival,Life is Beautiful) fielded Bernstein’s aboriginal question: what contractualprovisions or capacity bulk added than others and what are you consistently abiding toinclude or redline? Epstein appropriate the admirers account a Venn diagram ofinsurance, indemnification, and force majeure; breadth the diagram doesn’toverlap (i.e., there are gaps in coverage), promoters charge get specific inorder to assure the artisan from risk. For example, he recommended recruitingspecialized allowance brokers who assignment in the industry to beforehand accent thatcovers such specifics as acclimate breadth and timeline (are we talking weatherat the time of load-in? on the day of?).

Take home No. 2: Looking for gaps in the insurance, indemnification, and forcemajeur Venn diagram and spending money on the advanced end for specialists beatshemorrhaging money on the aback end in litigation. So what happens when, say, access wants accent that protects them from force majeure and the venuedefines force majeure actual broadly? Epstein takes the business-building approachand tells a breadth that he wants to beforehand a relationship, accompany in artists,grow a relationship, etc., but he “can’t booty that accident breadth if you can’t puton the show, again the appearance doesn’t happen; but if I can’t put on the show, I’mpenalized for it … I aloof don’t accept that bread-and-butter wherewithal.”

Which brings us to booty home No. 3: If you’re activity to accomplish achange to a contract, accommodate a rationale. This is, afterwards all, a conversationso communicating and accouterment acknowledgment goes a continued way to accepting what allparties want.

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The console confused into altered breadth with the addition ofFrank Page of CWA Management, who explained that per IRS cipher breadth 1441, ifa breadth brings in a adopted act as an absolute contractor, it charge withhold30% of that act’s assets unless there is a Central Withholding Acceding (CWA).

A CWA allows an act to be burdened on net income, at a lowertax bulk up front. Page provided a advantageous archetype for those of us who don’talways appetite to do the algebraic in our heads: “Let’s pretend the Beatles are comingto the U.S. and they’re activity to do one appearance and that show’s $100,000. Withouta CWA, the apostle withholds 30% and easily the Beatles a analysis for $70,000,which could be a botheration for them if their costs are $80,000 … So they hireus, we address the IRS and say, ‘Yes, they’re activity to accomplish $100,000 but theirexpenses are activity to be $80,000 so don’t tax them on $100,000 tax them on thenet of alone $20,000. And don’t tax them at 30%, tax them at U.S. tax ante thatstart at 10%.”

Having a CWA solves all sorts of problems, enables fiscalflexibility and, aback the IRS has started agreement holds on adopted refundsover $5,000, avoids putting that assets out of adeptness and into a long, drawn-outprocess.

Page provided a few caveats:  The Acceding charge be filed atleast 45 canicule in beforehand of the accident and if you are planning to use CWAManagement for your CWA filings, they like to accept two weeks in beforehand offiling.

Take home No. 4: If you’re booking a adopted act, alpha planning to book for aCWA now. – Meghan Hayes

 

Festival Trend Report 2019:

Green challenges, cannabis, abstracts technology and sponsorshipactivations were the cornerstones of the console presented by Summerfest’s BobBabisch. As the anniversary apple morphs, assertive capacity are ascent to the surface– and anniversary was addressed as its own segment.

Global Inheritance’s Eric Ritz talked about application adroitness tomake ecology albatross article want-to instead of have-to.Invoking their #carpoolchella, instituted in 2007, as a way to cut bottomward on carscoming to Indio, Calif., accepting busy debris bins to actualize “an artexperience” and a leave abaft for assorted schools to abatement littering andhaving “plastic surgery” to accession acquaintance of how to lower one’s artificial useas allotment of a “between sets” assurance for fans, Ritz believes this is a growthopportunity for festivals to actualize awareness, accord attendees added activitiesand a faculty of amusing albatross and admission messaging opportunities.

Red Light Management’s Jim Lewi recognizes that as cannabis becomes added legal,the opportunities will be exponential and at all events. For now, the EmeraldCup – North America’s longest active antagonism – is alluring added than 1,000entries, 130 speakers and activations. Every accompaniment has events, alike if they’renot in the customer space, including added than 19,000 paid at Washington, D.C.’sCannabis Fest. Admitting the FCC will not acquiesce cannabis advertising, attending forlegalization to appear added bound than advancing – and apprehend this festivalspace to explode.

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Greencopper’s Jeff Goodman looked at all accident technology(operations, ticketing, adaptable apps, empiric possibilities) to demonstratehow encompassing tech is in the anniversary space. For the festival, sponsors,brands and sports teams (where applicable), these contest accommodate a pumped upenvironment to aggregate data, with acquirement yields from email confirmations andregistrations that crop claimed codes. With 71% of app uninstalls advancing frompush notifications, this provides a way to authorize and admeasurement what consumersreally want. It additionally provides absolute time check-ins, photos/videos/surveys aswell as post-event analytics.

For the NFL, this array of abstracts acquisition saw fan assurance up220% in 2017. Am Ex cardholders at Coachella who autonomous in could randomlyreceive notices of VIP upgrades or tickets to abutting year.

As advocacy and different acquirement streams become a beyond allotment ofthe conversation, Chippewa Valley Music Fest’s Wade Asher batten to activationsand upgrades – including a VIP that can alone be purchased from the Festival,pit passes which could be added assimilate whatever akin admission had been purchasedand a Top Tier Lounge, which assigned animated platforms with box seats forsix, a clandestine area, waiters and high-end food/drink service.

Each caters to a specific concertgoer, and there is littleoverlap, admitting the better beyond the lath acquirement architect he’s seeing isthe move to RFD cashless technology. Not alone does it cut bottomward on personnel(34%), but with the adeptness to bulk your acclaim agenda assimilate your wristband,they’re seeing 18% added spending.

REACH’s Lindsey Bartelli seconded that finding, adage 74% would rather opentheir wallets for an acquaintance than actual things. By dressmaking theexperience,  they are accepting shareable content, metrics and abstracts capturethat is specific and different to anniversary accident (Lollapalooza had a Toyota activationwhere bodies could get in the car, or accept their bandage agenda tattooed ontheir arm – and accretion article useful, while experiencing the sponsor’s productin a actual way). “Make abiding the cast acquaintance is additionally adorning thefestival experience,” she reinforced. “Because done properly, it creates anenduring consequence for both.” – HG

 

Casino Entertainment: The Value of aTalent Buyer

To outsource or not to outsource bank aptitude buying, that wasthe question. The aural answer: outsource! Andrew Blank of C3 Presentsmoderated this panel, which for the aboriginal time included alone buyers.
Panelists categorical assorted affidavit for outsourcing, from accessibility andbandwidth (“My activity is insane…so if you were an abettor cat-and-mouse to apprehend aback fromme, I would … never get aback to you” — RyanFrohberg [Casino del Sol Resort]) to accomplishment the allowances of buyers who canaccess civic acts, accommodate able acquisition and are adeptness about appraisement inmultiple markets.

Outsourcing’s agreeableness already established, allocution confused to theproblem of arrangement addenda. Notably, none of the panelists anytime absent acontract due to an addition disagreement, but Kell Houston (HoustonProductions), the alfresco client for Bank del Sol, common a point fabricated inthe beforehand “Terms & Conditions” console aback he argued the absence ofentertainment attorneys on Tribal Councils becomes an impediment to finalizingcontracts aback the specialized accent of ball affairs is put underthe microscope by non-specialized attorneys, generally arch to a “stalemate.”Deana Baker (Choctaw Bank Resorts) has attempted to break that botheration byinviting the Tribal advocate to appear a show, saying, “Come to the show, cometo load-in, see what aggregate is from alpha to accomplishment so you can understandthe language” of the ball contract.

The console additionally addressed the adhesive wicket of VIP packages, with Ryan Frohbergannouncing, “all our affairs are activity to alpha demography a cut of any VIPpackage.” While Tammy Kite of Golden Nugget Casinos said her accumulation does nothave affairs to booty a cut of VIP packages, but accustomed that “it issomething that you accept to break in advanced of … the acreage akin is the one todeal with the beheading of the VIP package.” 

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Panelists additionally had a active altercation of new ball trends in thecasino affairs industry. Lori Otelsberg (Signature Entertainment), explainedthat she has admiring a allotment of the growing Asian and Latin markets with MMAand has had abundant success bringing in TV-personality mediums like TeresaCaputo. Yet a adverse trend for this accumulation are entities invoicing for globalmusic rights. Frohberg estimated that his centralized negotiates “endlessly” withinvoicers, account with a assertive bulk of pride that this advocate got a$180,000 balance bargain to $8,000. Houston bemoaned the abridgement of accuracy in theglobal music rights business model. Try as he might, he has not been able tofind addition who is a decisionmaker to altercate invoicing specifics, andtherefore can’t authorize any base for these charges. 

Ultimately, the alternating affair was the accent of advice andeducation – with artisan agents, casinogoers (know thy demographic!), TribalCouncils, and alike all-around music rights invoicers. – MH

 

Yacht Bedrock Party

Pounding out capacity apropos force majeure clauses anddetermining percentages of cuts on VIP bales is arduous work, so with thedreamy vocals and dank chart of Nashville Yacht Club Bandage (“we makeyacht bedrock dreams appear true”) lapping at their ears, attendees of the YachtRock Party appropriately set captain on a sea of feel-good covers.

The all-star accolade bandage handled such faves as “Saturday in thePark” and “What a Fool Believes” with abundant aggressiveness while conferencegoers grazedon island book (jerk chicken, beginning fruit) and developed beverages.

When Pablo Cruise, which boasts three aboriginal bandage members,kicked off what frontman Robby Wyckoff alleged “the beeline set we’ve played ina continued time” with their 1978 hit “Love Will Find a Way,” homesickness became realtime. 

He then, with argot buried durably in cheek, asked that nomembers of the admirers storm the date and that ladies burden from throwinggarments onstage afore ablution into “I Go to Rio.”

Hips did amplitude appreciably. The set concluded with 1977’s “WhatchaGonna Do?” and a admonition that Pablo Cruise will be touring in 2020. – MH

 

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