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This is © Copyright2021 by PromoTix, Inc. You are granted an unlimited license to distribute, edit, and make copies as long as this copyright claim and logo remain intact in subsequent versions. Please visit us at www.promotix.com for more great live event tools and sheets.
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Calculating the Real Cost of Upfront Ticketing Sponsorship and Advances
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Unique Insights Into Ticketing Companies in the Music Events Business
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1. Ticketing Companies have gotten good at lending money and hiding it under the guise of "Sponsorship", "Advances", and "Pre-Paid Royalties"
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2. Their Delivery Vehicle is the Ticketing Technology Software.
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3. Most of the time these initial loans hold the equivilent annual interest rate of 100-175%
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4. Predetory Lending is ILLEGAL in most states, yet Ticketing Companies are getting away with it by hiding it under the guise of Sponsorship
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5. These Sponsorships, Advances, etc. are LOANS - not a real sponsorship. You will pay back the Sponsorship money ten fold. True sponsorships don't ever have to be paid back.
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6. Understanding the Cost of Money and the Rate of Interest on these loans is important to growing a successful music events business.
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7. There are other sources of money out there, at much cheaper rates!
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8. There are options (such as PromoTix) that charge zero ticketing fees.
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