I’ve been doing some research about venue operations (you know I’m an expert now because I’ve watched some YouTube videos) and a few things shocked me:

1. No matter how popular/famous the venue, if expenses get out of control for a show (or are not managed properly) it can be very easy to lose money even on a big-name performer
   
2. The impact that a venue can have on a band by doing simple things like providing a facility for the band and their crew to things like take a shower, just chill before or after the show, and for the touring artists….provide a place to do their laundry can seriously improve a touring bands life on the road.
   
3. Everything is a negotiation….From the fees the bands get, to the split of the ticket sales, and even alcohol sales…it can all be negotiated. What surprised me the most is that a headlining band can be super popular, yet advance ticket sales determine if a venue can pay an opening band. Sometimes bands play for nothing just to gain exposure.

It has been an interesting journey trying to gain a better understanding of our customers’ business. I wished I had educated myself earlier on venue/concert management. Yes we are in the storage locker business…but we are in the entertainment business as well. Our lockers are a part of the fan experience…that makes us a part of the show in a sense.

Although I was kidding on being an expert after watching some videos and reading some articles, I truly do have a newfound appreciation for all that goes into delivering a concert experience. I never thought of the speed that ticket control having a very significant impact on the profit at the end of the day; but it makes perfect sense. The longer the fans are outside of the venue before the show…the less time they are spending money on merch and alcohol. Alcohol sales are a big money maker for the venues…speed at the door is everything….that’s part of where we hope to help at Lock It Or Lose It.

It is a complex space…one I hope to continue learning a lot more about. And to give credit where credit is due…one video by Casey Doremus shed some serious light on the finances behind putting a show on at a smaller venue.