The most common deal is a door split. What makes it a good deal? Put simply: In the case of a door split, the takings are shared as a percentage. Only after the event has finished, and the ticket sales have been calculated, will the promoters and musicians know how much they’ve earnt. Typical percentage shares for door splits are 70-30, 60-40 or 50-50 – the more popular the artist, the greater his or her share. The ticket price plays a major role in such agreements. That’s exactly why we ask about these two factors (percentage split and ticket price) when a door split gig is created on gigmit.
Think about a realistic price range for the tickets and then multiply the different prices by the capacity of your venue. This will give you the potential share of the final pot that you’ll have to split with the musicians. We require you to give a price range because musicians can set a minimum entry price for their gigs when sending applications. This prevents promoters from publishing high door splits for gigs, which then only take 1 Euro on the door. During the negotiation process leading up to a deal, the parties have to agree on a reasonable ticket price and a fair percentage of the takings.
The more people come to see the show the better the split deal for both artists and promoters. Getting the crowd is the key and main challenge in the live business – especially while working in the field of up-and-coming artists and new music. That’s why you should definitely work together promotion-wise. We did an Online Promotion White Paper for both promoters and artists. It’s available for free. You need to calculate how much promotion you have to do? That for we now automatically tell you how hot is your preferred gigmit artist. Check the new FAN BASE and FAN LOCATION module on the artist page and get to know how many people he or she might draw in your region. Better promotion means a better door.
A popular variant of the door split is the guarantee plus percentage deal. You simply add your break-even point, i.e. specify the amount at which your door takings will start making a profit. Then split the remaining revenue according to a pre-defined percentage. To ensure that musicians don’t go home empty-handed and bear the entire risk themselves, a guaranteed fee is agreed upon. This amount is then paid no matter what happens and is included in the break-even point calculation.
The fact is: Deals always offer a way for both musicians and promoters to share the financial risk of organizing an event, without putting either party at an unfair advantage. The door split is an opportunity for this.
Now you’re motivated to offer a good deal?
Create a gig on gigmit now and learn how easy booking in the digital age can be.