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 I love podcasts and I get excited when people talk about launching new ones. Like The Venue, a live call-in show produced by the International Association of Venue Managers. The Venue deals with the issues venue managers face on a daily basis. It kicks off Friday at 12 PST and is hosted by the duo known as the Wolfe and the Hen — IAVM's own Greg Wolfe and Jason Hensel. Podcasting is a great way to share information and talk candidly about our industry. There are a handful of good shows out there right now — one of my favorites is Tao of Sports. Enjoy, and happy podcasting.
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 Amplify is hiring. We're looking for a Director of Sponsorships to help us identify and cultivate new corporate opportunities. And we're also hiring an in-house Interactive Web Editor to help grow our online content and take our website and mobile app to the next level. Click on each position for more information and instructions on how to apply.
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Last night the Rolling Stones played a surprise show at the Fonda Theatre in Los Angeles. Crazy cheap $5 tickets went on sale at noon and instantly sold out. We couldn't make it, but Derek Schaefer from Goldenvoice was there and posted this setlist photo, which we now share with you. Ah..the memories of what could have been. (Photo via Facebook)
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When Bill Donabedian launched Bunbury Festival in 2012, the idea was to create an event that showcased the talented artists and unique venues in Cincinnati's growing music scene. Having already run a showcase-style festival there that he sold to a media company, Donabedian decided the time was right to start a fest geared toward Cincinnati music fans who didn’t have their own hometown event. For a guy who hadn’t dabbled much in the national festival scene, it was an eye-opening education in the world of headliner acts, booking agents and national promoters.
"I didn’t really fit in to all of that," he said during a recent interview. "I still don't think of myself in the music industry. I'm just a guy living in Cincinnati who wanted to see a summer music festival here."
His biggest surprise was the amount of competition and pushback he faced in the industry, especially from other promoters who tried to use their size to lock up the schedules of big touring acts.
"They're either going to try to squash you or acquire you," he said. After three successful runs, Donabedian said, the industry started to take notice. There was suddenly more competition from the majors, higher guarantees for headliners and more pressure on his bottom line.
"I suddenly realized I needed my own 800-pound gorilla," he said. "I've got to find a partner who gives me leverage. Someone that books a lot of dates and has some leverage with agents to get these better acts without paying out the nose."
Enter PromoWest, the Ohio-based promoter that owns and operates four venues in Columbus and the Stage AE in Pittsburgh. Donabedian sold both Bunbury and the country-themed Buckle Up Festival to PromoWest for an undisclosed amount last December. Donabedian now reports to PromoWest President Scott Stienecker and is still involved in the day-to-day management of the festivals.
"What I liked about Scott was I got to meet some of his employees and they had a very high regard for him," Donabedian said. "There was some sensibility about him — obviously he's been a very successful businessman and really knows how to make money in this business. I felt so comfortable with that."
So what should you know before you consider selling your company? Below, Donabedian shares a few tips for surviving the acquisition process.
Plan Your Exit When You First Start
"As I said when I started networking with people, it wasn't just about meeting new people anymore. It was a chance for me to ask people, 'Would you like to invest? Would you like to partner? Would you like to buy?'" he recalled
Donabedian said he was looking for a true partner, someone who would put some money in the event and take on some of the ownership.
"If you're doing any type of startup, it’s important to think about exit strategy," he said. "You’ve got to look at how you position yourself. How good are you at keeping records? How are you structured? If you constantly operate with that in mind, you’ll be a better company."
Donabedian said his goal was to create a company that an investor would see as a sensible acquisition, capable of either running on its own or being taken to the next level.
"You want to find someone that will do a good job taking your dream and keeping it alive," he said.
Look for Someone Who Shares Your Vision
Donabedian said one of the things that attracted him to Stienecker and the Promowest team was that the company appreciated what Donabedian has built with Bunbury and wanted to help him continue to develop the brand.
"They didn’t want to change the name or make it all about death metal or some other genre," he said. "The Bunbury name is something deeply personal to me and I don’t feel like he compromised our brand at all. I feel like he's doing what I wanted to do next, which was, let's take it to the next level."
Donabedian said he was approached by people who were simply interested in the infrastructure of the festival, or wanted to take what he had done and replicate it in other cities.
"They didn’t really want me involved anymore," he said. "I'd worked too long and hard to see it disappear like that."
50/50 Partnerships Don’t Always Work Out
Once Donabedian and Stienecker decided that they wanted to work together, it was time to decide how much control Donabedian was willing to give up. He toyed around with a 50/50 partnership, but ultimately decided to sell off a controlling interest in the event.
"Somebody needs to be in charge and call the shots," he said. "It’s like when the founder brings in a new CEO and takes a smaller role, that's exactly what this is. We had talked about a different partnership but this one for various reasons made the most sense and I don't regret it, not for a second."
The PromoWest staff are taking on new roles and Donabedian said he’s been able to take a lot of busy work off his plate. That’s given him a chance to focus on branding and big picture planning, while PromoWest focuses on booking and the marketing and sponsorship. He believes the collaboration is what helped this year’s event (June 5-7) book high-profile headliners like the Black Keys, Avett Brothers and Snoop Dogg.
"I think our lineup says it all this year," he explained. "Our headliners have definitely moved up to the next level. Our undercards might've been headliners in years past. That's what PromoWest has been able to do. It's been exciting to see them bring in new artists that we've talked about and wanted to book but could never quite get."
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As Amplify prepares for the Association of Luxury Suite Directors conference, we're increasingly looking at how technology is changing the VIP and premium seat experience. Our partners at Pogoseat created this cool infographic to showcase how mobile upgrade tech has grown significantly since 2012. We were astounded by how much revenue teams brought in from upgrades in 2015. Check it out for yourself with the infographic below.
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The Golden State Warriors have come up with some great hashtags to celebrate different aspects of their team's historic run to the Western Conference Finals. #AuthenticFan was created to celebrate the individuals attending the game, while #roaracle celebrates the insane atmosphere inside the Oracle Arena. For those watching from home, the team is encouraging fans to tweet from #strengthinnumbers
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