Evedo Horizons 2: Building trust in the events industry

We are explaining the artists bookings and how you can gain trust inside the industry. And why a product such as Evedo is truly needed.

In our previous article, we discussed in further some of the main issues which the booking industry faces. One of the key objectives, the trust issues, remains a topic that we will discuss more this time.

Can we standartize reputation and allow more trust even for the new players in the business? Let’s talk more about the topic here.

It is true many of the problems within the business arise because of general mistrust. Imagine this repeating scenario: an artist’s agent is sure that the promoter will try to rip them off with lower fees and unfulfilled agreements, while the promoter probably assumes something very similar from the agent.

A reputation and reliability

Reputation can only currently be built over a long period of time, as a booker or promoter gains experience in the scene. Most often, agents go by their gut feeling in order to decide whether someone is worth doing business with.

Which means the most ot the times it can be almost impossible to build a reputation and book great acts if you are not working in the industry for long.

This lack of trust can be justified on both sides, with promoters leaving large fees unpaid. An artist’s hospitality rider can also be misleading for organizers — does an unknown artist’s demand for six bottles of champagne really has to be fulfilled?

Can we standardize reputation?

In a similar way to the standardization of communication, we would suggest a standardization of reputation, with a fair ratings system for artists and bookers that takes into account any difficulties between the two parties. An artist’s agent should be able to see which artists a promoter has previously booked, and whether these bookings were successful or not. Equally, a promoter should be able to gain awareness of any problems with artists — were they cooperative, or did they make crazy demands and refuse to turn up on time?

On-time payments. TRULY!

As mentioned, on-time payment is still a big issue in the industry. It is crazy to think that in today’s world of PayPal and many big platforms such as Amazon, Ebay, AirBnb and banks allowing quick international transfers ( and many other examples)., one party should still have to chase after another for money. For smaller artists, who normally are living hand-to-mouth, this can potentially mean missing a vital rent installment or other unpaid bills.

FYRE festival is an example used way too much nowadays to address the issue. Why don’t we look at the fiasco of the Elastic Artists agency? You can read more here.

Initially, a whole list of artists was left unpaid for a summer’s worth of gigs due to the agency’s bankruptcy . What is the remedy to avoid this? It is quite simple: the fee is paid with the help of escroll functionaluty. The amount of money are wired to the artist’s account but they are released once the performer has done their job according to the contract. Here comes the escroll functionality that Evedo introduces!

In the case of cancellation or other circumstances, only the cancellation fee is released, with the rest returning to the payer. In the case that a party refuses to pay their agreed share, they won’t be able to use the standard platform again until they do. This would go a long way to making mistrust a thing of the past — where negotiations were previously an exercise in constant tension, all parties would be instantly assured that whatever happens, they will see their part of an agreement fulfilled.

It’s time someone to digitalise the hospitality riders!

While bookings now obviously take place online, they hardly use any of the tools currently available to them.

Tech/hospitality riders (and presskits) are still sent by email every time a booking is negotiated, dates are sometimes unclear. With the click of a button, it could be possible to give a promoter access to an artist’s rider and travel info. The constant and logical question of availability could be eliminated with a standardized, accessible calendar in order to see an artist’s free dates. Payment would be end-to-end, with open payments instantly at hand and completed payments viewable for accounting. (Another interesting issue here are the tax returns. They can easily become the easiest thing in the world, with a year’s payments available to recall in one place).

The question remains — why no one has come up to the very same conclusion as us. This business needs a simple, easy standard for everyone to work with. Another word that comes with the standardization is — unification. Initially, Evedo resembles a unified platform — a true one stop shop for events organizing in one place.

Are you intersted in the events change? Join us at www.eveco.co !

Evedo is online:

Website: www.evedo.co
Email: info@evedo.co
Telegram: https://t.me/evedoco
Facebook: https://www.facebook.com/evedo.co/
Twitter: https://twitter.com/evedotoken

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evedo Talks vol.2

“evedo Talks” is a part of the monthly series, that will update our community about how we develop our platform and what our future plans for growth and development are.