Could this be a solution to expensive concert tickets?
Years ago, I decided a needed a Movado watch. I didn’t have anywhere near the money, so the jewelry store agreed to create a layaway plan. The watch was put aside and ever couple of weeks, I’d put some money down on a it. Once I came up with the full price of the watch, I was able to take it home.
Layaway plans can be very helpful. You pay something off over time but without incurring any interest. There’s no instant gratification but in the end, it’s a smart way of getting what you want while saving money.
Fred Jacobs over at Jacobs Media wonders if layaway plans shouldn’t become a bigger deal when it comes to concert tickets. This is not a new idea; layaway plans for tickets have been around for a while, especially in the EDM world. But as tickets get more expensive, the concept is probably worth a better look.
Jacobs points to the Epicenter Festival set for Charlotte Motor Speedway next May with Metallica, Slipknot, and quite possibly AC/DC with Brian Johnson back on vocals. Organizers are trying to make it as easy as possible for fans to buy all levels of tickets with having to resort to high-interest cards. This certainly makes it more feasible to purchase, say, ultra-dear VIP passes.
Maybe it’s time that layaway plans are rolled out everywhere. Read more here.
We are at a place in our lives where we’d rather do 10 concerts a year at $40 than 2 at $200. This has enabled us to see and meet some incredible up and coming artists. And honestly that is more awesome than seeing an old band with the same playlist of oldies they’ve always played.
Although I think layaway is a good idea, it doesn’t solve the problem of price, it only band-aids it into smaller bite-sized increments. You’re still buying an expensive ticket. Don’t get me wrong, I get why some shows cost more (larger productions in venues that don’t hold 80,000), but it could end up driving the price up more when people only focus on the installment payment rather than the total, something like how financing works for people who only care about the amount of the monthly payment and not the cost of the car plus the cost of borrowing.