Posts Tagged ‘Bricks & Mortar’

IMPULSE BUYERS NEEDED

December 27, 2008

When you go to Las Vegas, there are a ton of live entertainment options laid out in front of you.  There’s probably a lot in your town too.  Should there be a bricks & mortar option for ticket shopping for live events?  One where you can see everything (like Ticketmaster) but have the option to purchase at a discount?

People love to shop.  Although retails sales numbers from the holidays are horrible, the fact is the malls and stores felt just as crowded as ever.  A good guess would be that like my family, Christmas didn’t go away Santa just had to tighten his belt from losing half his weight in the stock market.  Even cashed-in some American Express Membership Rewards points to get the toys for the girls (this Santa doesn’t have boys) this year.  So now Christmas is over and we are looking for things to do.  Go to ticketmaster.com and you can find things, but if you are a normal family, this is not something you can do on the fly due to cost.  With live entertainment promoters of all kinds looking for ways to sell “remnant tickets”, we should have at least one business dedicated to selling tickets to IMPULSE BUYERS.

There are probably millions that still don’t know what they are doing on New Year’s Eve, 2008.  Many will end up staying home.  Some because they want to, but others because they just can’t afford any of the options available to them…and the free ones are just not that appealing (crowds, cold, drunken people, etc).  How many live performances on New Year’s Eve do you think still have tickets available?  From the little research project we just did at our house, it is over 90%.

There is one event my family really wanted to go to this New Year’s.  The cheapest ticket is $75 plus “applicable charges”.  $75 ends-up being $89.50 per ticket to not see or hear the show very well.  In these times (or any times), that is just too much.  In a recent Reuters story on Live Nation and CEO Michael Rapino, writer Yinka Adegoke pointed out that “Rapino argues that his business will be able to weather the worst because consumers only visit one or two big shows a year, and they will always save up to see their favorite artists even in a downturn”.  Yikes, is that what the concert business has come to?  We need to attract new fans to live.  A business setup to sell tickets to any live show at any venue from any agency just might do well.

Yes, with a majority of ticket purchases happening online, there would have to be a user friendly web store with everything in it that the bricks and mortar shops have.  But if there was a well designed, laid-out ticketing store in your local up-scale mall where consumers could shop for tickets to live performances at every price, you can bet we would see more impulse buyers and thus less remnant tickets.  It is certainly worth an experiment for any one with the budget and relationships to try.  The Westfield mall in Century City, CA, a few blocks from the Agency Group Events & Entertainment offices would be a good place to start.  Las Vegas would be another.  New York City has the beginnings of this concept already working with the Theatre Development Fund’s TKTS ticket store in the middle of Times Square.

There are almost always lines at this place, and they only sell theatre tickets.  Imagine what we could do with a little effort!  Love to hear your thoughts on this.

Happy New Year!

Jim

Advertisements

LIVE NATION’S BLOCKBUSTER DEAL

December 3, 2008

Well I’ll start with a line from Cheech & Chong, “holy sheep shit”!  I can’t believe our LiveWorks Newsletter subscribers got that October recession letter again.  Please know that I have emailed FeedBurner (the Google Company that makes the product that does the sending) about the problem for the third time.  There is no number to call.  I am so sorry.  Please know that I have deleted that “Hooray for the Recession” newsletter out of existence so if the problem persists, at least you won’t be getting that one again.

Since playing Live Nation CEO in the last LiveWorks News, like you on Monday and Tuesday I read a lot about LN’s deal to have Blockbuster act as their exclusive “bricks and mortar” ticketing outlets.  With the vast percentage of ticketing being done online these days, why would Live Nation do this deal?  Well, I’m hoping they are thinking what I’m thinking and it turns out to be a brilliant move.

Don’t you remember the excitement of waiting in line for the Ticketron outlet to open so you could get seats to see your favorite band?  Did you ever camp out so you could be first in line?  Are you old enough to even remember those days?  I think that’s partly what’s going on with this deal.

According to everything I’m reading (I think USA Today was the last so I should probably give them credit), Live Nation’s new ticketing system, along with its vast inventory of shows (they are the largest producer of live entertainment in the world) just got 500 new store fronts they didn’t have to pay for.  Not only does this give great in-store advertising for Live Nation shows; it provides an opportunity to re-create that excitement of waiting for the “box office” to open, creates circumstances for impulse buys from video customers, a chance to up sell a customer on merchandise, CD’s, DVD’s, and more.  All face-to-face.  All live.  It gives Live Nation a human face.

I give Live Nation and Blockbuster a standing ovation for their efforts.  They are trying something new.  Live Nation is selling where their competition is no where to be found (marketing 101). I wish both parties much success in this endeavor.

REASONS WHY YOU SHOULD GO TO THE ASPEN LIVE CONFERENCE THIS YEAR (dec. 11-13 @ st. regis, aspen)

1. We are bringing people together this year to try and help.  That’s why we are waiving our registration fee. And although a week away, it’s not too late to register.

2. You will either make at least one new relationship or reconnect with someone that will be able to help your business immediately.

3. Rooms at the world famous St. Regis, Aspen are only $250 per night through our special rate.  All you need to do is call the hotel and ask for reservations.  Tell them you are with “Aspen Live” and they will give you our rate. (970) 920-3300

4. Flights into Aspen are very reasonable.  Last week someone booked a round trip on United from New York for just over $400.  When we checked Tuesday, you could still get flights from LA for around $400…a week out!!!

5. Meeting topics include: “How will we develop acts tomorrow, and where will the risk capital come from”, “The one thing you could do for me would be to….” (Where promoters tell agents the one thing they wish they would change or do for them…same with every other sector of our business), “What was the last great example of artist development during down economic times”, “Ways to save on the road”, and more.

6. Moderators for the above meetings include: Diarmuid Quinn (COO, Warner Bros. / President, Reprise Records), Marc Reiter (Q Prime Management…Metallica, Chili Peppers, Shania, etc), Bob Lefsetz (The Lefsetz Letter), Nick Light (Sr. VP, Sony Music), Jason Flom (Universal Music Group), Peter Tempkins (Entertainment Insurance God), Amy Morrison (Sr. VP, Marketing, AEG-Live), and more.

7. Aspen is the best conference for getting deals done…period.

8. During non-meeting time, Aspen has the best; skiing and boarding, restaurants, spas, shopping, outdoor activities, and of course people who come to the conference to network with.

9. If I’m hitting you this hard and not even charging, imagine how good the conference must be.

10. Did I mention that we were waiving our normal $1000+ registration fee due to the economy?

Go to http://www.aspenlive.net for more information or call or email me.

Talk to you soon…

Jim