GigPay: Preventing Promoter and Artist Bitchas#ness

gigpay - live event payment solutionInteresting.  The music industry (or any 'event-based' industry for that matter) is full of black hat stories of contracts being broken, artists getting screwed, or promoters losing bands in clutch moments.  For example:

  • Band plays gig.  Venue decides not to pay band afterwards.  Hassle-city ensues.
  • Band commits to gig.  Venue pays upfront.  Band never shows up at event.   Bummer.

GigPay created an escrow solution that acts as a "PayPal-for-live-events", which works like this:

  1. Performer and Promoter agree to a live performance and related terms.
  2. Promoter pays using GigPay; the money sits in escrow at GigPay.
  3. Both Promoter and Performer can see and confirm payment status.
  4. Performer is paid on completion of the gig.

And voila, the potential for bitchas#ness is stymied ("bithas#ness" = annoying behaviour...per P. Diddy).  Not a bad way to manage things if you're a band on tour, or a venue manager.  The solution is lacking (or at least, I didn't see it mentioned) a solution for post-performance revenue share models, such as the splitting of ticket sale revenue, merchandise revenue, or something similar...but that can probably be handled with a little contract term magic.

Hey!  GigPay gave me something to give to you, lovely reader:

GarageSpin Freebie of the Day:  The first 50 folks to use discount code GARAGESPIN08 will be able to "request payments" or "send payments" for free.

Please use, and think kindly of me.

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Comments

This is definitely something I need to look into. Being a musician who has been screwed over many times I understand completely.

Aceand8ths: Absolutely. If live shows are a big part of what you're doing, ths service is absolutely worth considering...

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