If you are planning a concert, one of your first concerns should be securing the right live concert insurance. It will cover a wide range of potential mishaps. Here are 8 essential steps you must consider while planning a live concert.
- Set Goals
Before you start planning the show, you should have a clear concept of its goal. A well-planned theme-driven show with the right promotion can attract a large audience. As you establish goals for the show, start thinking about live concert insurance to cover the risks involved in putting on public shows.
- Create a Budget
Your budget is another major concern because money is what fuels the talent involved with presenting the concert. The budget also covers insurance as well as security at the show. Some concerts can be low-cost if the band has their own equipment and agrees to play for exposure rather than the money. Other concerts can be expensive, especially if they involve popular talent. Not all concerts are meant to make a profit, but for the ones that are, careful budgeting is crucial.
- Identify the Performers
Musical talent is often the primary reason people go to a concert. Sometimes people come to events regardless of the talent, for a festival or showcase of various bands. When considering talent, remember there are bands with name recognition that set their own price for promoters. There’s a wider universe of lesser-known talent that doesn’t demand as much pay. A major consideration for choosing acts is whether they fit the target audience you are aiming for.
- Select a Venue
Concert venues already exist in major cities and towns for indoor or outdoor shows, as many are in the business of renting space to promoters. There are also “pay-to-play” venues in music cities such as Los Angeles, in which bands pay for the venue and then earn money from ticket sales. Decide what type of venue you need, and then look for venues that fit your budget and your target crowd attendance. Remember that it’s better to pack a small venue than to see a sparse crowd in a large venue.
- Apply for Permits and Insurance
In the past few years, many cities have established ordinances that require a “noise permit” to conduct a live music event at a public venue. Other permits may be necessary, as the laws vary from city to city. As far as the exact insurance you need, talk with an insurance expert about your show and customize a coverage plan.
- Check All Equipment
You may need to spend part of your budget on audio-visual equipment, such as microphones, speakers, lighting, and amplifiers. Many venues supply the necessary equipment. You must confirm with the band about their personal equipment and what you will be responsible for. Other significant factors to consider are seating arrangements, access to power, and protection from the elements if it is an outdoor venue.
- Sell Tickets
A convenient way to sell tickets is through a ticketing service that offers print or digital tickets. The more flexibility you have to reach different market segments, the better. Ideally, the service accepts multiple payment methods, offers tiered costs, and provides custom branding for tickets.
- Promote the Concert With Your Collaborators
It’s important to promote the event. You may need a marketing plan to do so. Collaborating with event managers, sponsors, ticket sellers, merchandise suppliers, and concert promoters to reach out to the target audience helps spread the word. Venues also matter as more people are likely to show up if it’s a place they enjoy. A good way to promote tickets to local events is through social media.
Contact our team at RMS Insurance to learn more details about live concert insurance.