'Book now, pay later' ticketing option for 2011 Future Music Festival

In an Australian concert industry first, promoter Future Entertainment has launched a 'Book Now, Pay Later' initiative for its March 2011 Future Music Festival.
In a crowded summer concert and festival calendar, the initiative allows festival-goers to reserve a ticket on Ticketmaster and paying an initial deposit, then have the balance charged to a credit card on a fortnightly cycle.
Itâs a new development for concerts and festivals in Australia with major implications for the live entertainment industry looking at new ways to get audience dollars, especially in a busy tour climate.
Explaining the initiative, Future Entertainment Director Brett Robinson stated âwe know that there are a lot of great things happening over summer â a lot of concert tours and festivals (and all promoters) have got to be smarter to recognise that weâre really lucky in Australia to have such a wealth of entertainment options, and weâve got to make it easy for people. Itâs just a way of making it accessible to everybody.�?
"People have financial considerations, but still want to have the summer of their lives.
"They shouldn't have to sit on their hands through summer so they can go to a music event."
Robinson believes the plan will change the industry, adding âit's a great initiative, I would like to see it adopted and be offered across the board, for all of our events.
"I hope it will change the traditional way concerts are sold."
The model, he says, is inspired by major overseas festivals like Glastonbury, Coachella and T In The Park. âWith T In The Park, the day after the festival you can buy tickets for the next year at a discounted rate and you can pay it off over 12 months. I think the tickets are around 200, 300 pounds, and (festival-goers) donât have to find the money straight away in the middle of the European summer.�?
Robinson is also keen to point out that the âBook Now, Pay Laterâ initiative has been a long-time in the making. âFuture Music Festival on-sale was the biggest the company has ever had,�? he adds.
âItâs selling three times faster than any other festival weâve put on, including last year. This initiative is about creating another ticketing option, and we want to spread it out across all of our shows if itâs well adopted.�?
The 2011 Future Music Festival features 20 acts including Ke$ha, Mark Ronson, MGMT, Dizzee Rascal and Chemical Brothers.
Major acts touring Australia over the coming months include The Eagles, U2, Bon Jovi, Gorillaz, Guns N Roses, Muse, Linkin Park, Michael Buble and Neil Diamond. Many of the veteran acts have returned to touring as their income from recorded music sales has declined.
Robinson is very much aware of the high level of competition in live entertainment but says âi donât subscribe to the idea that the market is saturated; I think itâs thriving. But on the same token, people have been exposed to a lot of variety now and thereâs no room for half-arsed attempts. The product has to be strong and relevant. When festivals are not a success, perhaps theyâre not looking closely enough at what the market wants.�?
He concludes âthe market is crowded and promoters have to get it right. There will be casualties.�?