“Concerts have come down to magical formulas that are only learned after studying the feasibility for that particular event, designed for the right place at the right time,” [Concert Promoter Hal] Abramson says.

“New, untested, uninformed promoters think that just finding a venue, picking some bands and promoting is all there is to staging a successful event. That may have been the case in the 70’s but concert (and festival) planning and execution has really developed over the years,” Hal continues.

“There’s still plenty of opportunity for new independent promoters. Some ask me, ‘ How much can I make promoting? ‘ Without doing the figures on that particular show, it’s just BS. There’s no way to know what an event can net until first you know how much the show will cost, ticket price and venue capacity (the number of tickets you can sell). It takes due diligence and careful consideration of the primary components,” stresses Abramson firmly.

” Each promoter has a unique signature as to skills, interests, energy, connections, level of experience… but no matter what the attributes, promoters are seeking that perfect formula that assures success. Each concert and festival has major components that must fit like pieces in a puzzle in order for the event to earn a profit and make the audience happy. There’s a success formula,” Hal emphasizes.

Formula components are:
1) the right type of music genre for that market. What’s hot? Is there a hole in the latin, country or jazz market? What’s the box office history of your intended acts? National acts draw, locals don’t!
2) The right venue (with favorable rental terms (never more than 10% of gross).
3) The right price for combined talent to match: a) the venue size b) the ticket price c) the demand.
4) The right funding. (Based on a Cost and Revenue sheet.) This one doc determines event viability.
5) The right ticket price for the market.
6) The right performance date, preferably a Friday or Saturday night.

Elements like type of promotions and stage production have nothing to do with this formula. Each size venue has a general cost budget, the promotion and stage production are a cost that is simply plugged in. The enthusiasm one uses to promote CAN have a positive impact on the end result, but the promotion budget itself is relative to the number of seats, the size of the venue.

“With all of these components figured accurately, funded and managed properly, the promoter’s concert or festival has a far better chance of success than in the old days,” Abramson says.

Hal Abramson is a life-time promoter. For the full article “Abramson On The Concert Promoter’s Secret Formula” click here.