Concert Pricing with a Twist

Is the current recession negatively impacting your ability to see the bands you want when you want?  Hopefully not.  However, if you find yourself in the “this recession sucks” category here is an interesting twist on procurring concert tix.  The band Lotus has decided to let fans pick their own price–anywhere from $1 to $20.  This little experiment is being dubbed the Pay What You Want Tour and, for those concert goers who choose to pay $15 or more, they will get an added bonus from the band–a link to download both of the band’s digital EPs for free.  (Technically, it’s not free because there is the little issue of the $15.  Consider it more of an economical package deal.)  All in all, we applaud Lotus’ innovative efforts and are very curious to see how this works out for them.   Who knows…maybe they’re on to something.

It’s no secret that music fans everywhere show their support for their favourite bands with their wallets, even in a down economy.  From a business perspecitive, the risk is pretty low as  for every frugal explorer Lotus stands to pick up a new  loyal fan and all for a nominal fee.  The goodwill created with this benevolent approach could pay huge divdends down the road.

Would this work for every band?  Probably not.  The upside seems to be geared more toward established bands but you never know.  Regardless, it’s these types of pioneering approaches that always perk our ears up here at Froglix.

-DMitch

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