Tour Insurance & Contract Negotiations

Tour Insurance & Contract Negotiations


4 July 2008


Contact these people Marsh Insurance Brokers.  I want basically all the necessary insurance policies that will be covered by Live Nation.  I addition Live Nation will cover the premium to insure ticket sales, meaning if we sale a certain amount of tickets for a show, which will hopefully be a sellout in almost every case through good marketing practices, we are insuring they will perform the show or do the show on a later date, postpone the show or replace the show with another show at a later date.


The insurance policy is based on a breakeven point and an expected profit margin and a net profit gain to be negotiated in advance.  Once we meet a certain agreed ticket sales level we sign the pre-negotiated contract. 


Make sure when scheduling the shows you leave some lead way to make up shows, I want actual dates like they do in baseball for rainouts to be able to makeup a missed show do to illness , transportation problems and so on.  When booking the shows remember we are dealing with a human being and not a machine, we have to have down time scheduled in to either rest at the moment in time or if rest is necessary we can perform on a scheduled rest day.


I want you to try to setup booking with makeup dates in mind if possible.  In other words say we book on the October 22nd and we are free on the 23rd that could be a makeup date; however all shows will be indoors if possible.  I repeat if possible.  In return for this insurance policy paid for by Live Nation with Marsh Insurance Brokers we will give up a small percentage of our share of the agreed arrangements.  Be reasonable we are partners in this!


The agreement is this we sell the tickets we get the contract in advance of the end of the tour, so we can plan our future arrangements.  I did not plan on Janet doing MTV, but if that is what she wants so be it, it could become big, but my focus is not on an particular event other than this tour, we can schedule this in it can become big if done right.  Like I said as a springboard I want her to send out agents to represent her to weed out those who are simply not talented, then let her take the spotlight when it starts to get serious at MTV.  Before she actually recruits we get paid for name recognition and promised future appearances.  We can do a Janet review at the end of each show like they do in those Model shows even if she did not do the recruiting at the beginning of the shows events.



Published in: on October 14, 2008 at 8:07 am  Leave a Comment  

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