Ever wanted to put on a concert but do not know where or how? They said you need to know the right people, be in the industry and have contacts. If you like the idea of promoting concerts, I will teach you different ways to make money as a concert promoter in this article.
A concert promoter is someone who plans and hosts concerts. In return for putting together concerts, bands and singers may enjoy fame and money. Do you want to get into that same business? You can earn millions of dollars just by putting the right band together with the right location, setting a fair price, and promoting their concert successfully.
When done correctly, you get to earn a commission from hundreds of tickets sold. Read this and you will find out exactly how to become a successful concert promoter.
1. Start a Booking Agency
The best way to make money in the concert promoting business is by creating your booking agency. Legally, an independent booking agency does not need to be incorporated. You can do it yourself. As there are no special requirements to become a booking agent it’s quite easy to get started.
While this requires a hefty investment of money and time, it may be worth it. A booking agency first requires some knowledge of the artist circuit as well as the niche. Once you have established some confidence as an agent, go on to contacting artists directly with offers to organize their concerts as a concert promoter.
Many professional booking agents do it part-time, and many musicians will need an agent to get gigs – so there is a ready-made customer base.
2. Consider Hosting Your Concert Series
Another sure way to make money as a concert promoter is to create your own concert series. Organizing this involves finding the bands, promoting them through advertisements, posters, live radio spots, etc., and booking venues.
Most small clubs are willing to give you at least 10% of the door in exchange for promoting your show exclusively. You can also use your influence to get other venues in town to host shows. A local all-ages music club is a great option since they offer sound equipment and drawing power.
Start small to learn the ropes, and promote shows at non-profit clubs or venues that allow you to book the acts. Then grow your shows into venues that charge an admission fee. If you can promote well, after a while you will begin to hit your stride and ticket sales for shows can generate up to $50K – $100K per show.
3. Take Advantage of Sponsorship Opportunities
Sponsorship and advertising opportunities can be a great way to make money as a concert promoter. This is where your event lives or dies. You can find sponsors for live events or streaming content.
Depending on your audience, sponsors can be local to your area, national to reach a broader audience, or international to reach a global audience. When choosing sponsors, choose businesses that align with your target audience and help them achieve their goals.
Promote your events so that you can capture the interest of big companies that might sponsor your events if you are serious about becoming successful.
Among other things, you should create an impressive brochure that highlights your upcoming shows. This can be distributed by email, social media sites, or physical meetings (depending on how much time and money you want to invest).
4. Promote International Touring Artists for Better Results
International touring is a more lucrative venture for many concert promoters. International concerts are becoming more popular as well as profitable opportunities. Concert promoters should learn how to promote international artists for better results.
Promoting international touring artists can be much better because they may need your help selling tickets and finding the venues more than the local artists. Their huge fan base will come to your concert, better than any of the local artist’s fans.
Promoting international tours also allows promoters to spread their artist’s reach internationally, resulting in higher concert attendance. It also allows start-up promoters to build connections with many artists that could eventually turn into long-term relationships or partnerships.
5. Be Diversified, Create Experiences and Sell Merchandise
Sometimes, concert promoters don’t make a lot of money from ticket sales. It’s a long, difficult, and arduous process to choose a venue, book a promoter, advertise a concert, handle talent payments, and even put on a big event.
A concert promoter’s primary task is to bring musical experiences to as many people as possible, which will make it easier for the artists or band(s) to sell merchandise. In fact, most of the money made by concert promoters is from selling merchandise or creating experiences for fans of a particular artist.
To make money as a concert promoter, try to be as diversified as possible and focus on creating experiences for your audience rather than just a live performance. Don’t just expect talent buyers and consumers to come to you, take action and find new ways to make money as a concert promoter.
6. Write Reviews of Concerts
If you are looking to make some extra cash, what better way than to work for yourself? I know that writing concert reviews might not sound like the most exciting thing in the world, but think about it. First off, you’ll be a music aficionado pretty much from the start and that is never a bad thing.
Additionally, you’ll be able to stay on top of all the goings-on with your favorite musicians, making you a valuable source of information for your friends, family, and co-workers.
If you’re a concert promoter, there’s nothing more important than reviews. SoundCloud is a great way to share music, but be warned – if you want to make money as a concert promoter, you can’t just share your tracks. Always update yourself and be better.
7. Access Venues Near Colleges and Universities
College and university campuses are prime locations for launching a career as a concert promoter. You can easily talk to different student groups about promoting concerts and concerts at their school. Colleges and universities are more likely to be open to bringing in more events that are free or low-cost.
The students are usually very eager to experience concerts, which means that they will come to your shows if they like the artists. The key is to find out which bands already have a following at that college or university.
If you’re a hard worker, you’ll also meet plenty of influential students who will be able to help you find new opportunities.
8. Use Social Media to Promote Your Concerts Online
Promoting your concerts online is one of the best ways to make money as a concert promoter, but you have to make sure that you are doing it right. It is important to keep in mind that you are not only advertising events but also your business.
To get the most out of social media, you should strive to interact with others while maintaining a positive promotion of your brand throughout the process. There are several social media platforms available for use, but you as a concert promoter must know how to go about social media marketing to make money.
By using social media to promote your concerts, you will increase the number of people who attend them, which in turn increases the audience for future events. You can also sell tickets over the internet for ease and to make more money.
9. Book Talented Guest DJs
As a concert promoter, you should also think about this way of making money. Book talented guest DJs to play in your events and charge them well for it. This is a very simple process that will help you make money from your concert promotion.
The best thing about booking DJs is that it requires very little upfront investment. The only thing required from you is to have an effective marketing strategy in place. The more successful your party, the better for you financially.
10. Get Creative with Other Ways to Make Money Off of Concerts
In this fast-paced business, you have to diversify your revenue streams. By doing so consistently, it can generate a lot of money for your business. This is not a mistake the professionals make, and if you want to make money as a concert promoter, it’s better to know what sort of revenue streams to use from the beginning.
The key to being successful as a concert promoter is to embrace all of the possibilities, and look beyond the upfront profit you will make from the ticket sales. After the band has played, how will you make money? Admittedly, some of these ideas may not be feasible for everyone, they all depend on your local market. Get tips on additional ways to make money below.
How Much Money Can You Make as a Concert Promoter?
The average annual salary for a concert promoter is approximately $79,000 per year. Concert promoters need to be excellent negotiators and organizers and should be prepared to spend a lot of time and effort on the job. Though the work can be difficult, there is potential to make significant amounts of money in this field.
What is the job of a concert promoter like?
As mentioned before, a concert promoter is responsible for the organization of concerts. Many responsibilities could fall under this umbrella, including finding acts to perform or organizing events held by other promoters.
The job of a concert promoter is primarily administrative though. A concert promoter has to submit applications for licenses, arrange travel schedules, hire personnel, collect fees, and submit paperwork for reimbursement.
What kind of niche can you target as a concert promoter?
The niche of a concert promoter is the opportunity to promote a wide variety of events, from music concerts to sports to carnival events. It’s a very versatile niche that allows you to spread your marketing efforts while reaching a broad audience.
Is becoming a concert promoter worth it?
Yes. If you have a genuine love for live music and want to be a part of it by being a concert promoter, it can prove to be a rewarding career option after some time.
Making money as a concert promoter can be difficult. If you are just getting started, know that it involves plenty of hard work, networking, and building relationships including with other professionals in the industry. Ideally, your final product will be an organized event with high ticket sales.
But before reaching this point, there are several steps to follow to make the entire process easier for yourself and less stressful throughout your performance. The tips above can help you begin making money through concert promotion.
If you’re interested in generating income from other businesses, this is the part you’ll love. The blog has a section dedicated to top business ideas for you to consider. Feel free to explore the blog to find something that will pique your interest.
Thank you for reading.