Chipping Away at Tickets

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Before credit cards became widely popular, consumers often bought their power tools, furniture and jewelry on a layaway plan. The customer gave a down payment to the store, which put the item on hold, and the customer picked it up when the balance was paid.

Now cash-strapped music lovers can buy concert tickets on layaway, too.

Miracle Mile concert producer Goldenvoice, a part of AEG division AEG Live, is offering layaway for its indie rock event the Coachella Valley Music and Arts Festival.

The payment plan can be applied to the Indio fest’s three-day pass, which costs $281, and to the optional onsite camping fee of $55. Single-day tickets cost $103, but those aren’t available on layaway.

There are two layaway options: Pay half now and half April 1, or pay 10 percent now and the rest in two equal payments by April 1. Defaults result in loss of deposits. Tickets must be booked online by Feb. 28, and tickets will be mailed to concertgoers after the last payment.

Some retailers have experimented with new versions of the old layaway plan, but Goldenvoice’s iteration seems well suited. That’s because its layaway plan entices young customers many of whom don’t have the funds upfront to commit to a fairly pricey purchase.

This is the second festival Goldenvoice has used layaway for; the producer first offered the payment plan for its Indio country music festival Stagecoach. Tickets went on sale for the April event in November.

About 24 percent of Stagecoach ticket buyers chose layaway, which convinced Goldenvoice to offer it for the indie rock festival. So far, 20 percent of Coachella purchases have been made on the plan.

“It’s meant for people who want to go but just don’t have all the money today,” said Paul Tollett, president of Goldenvoice. “Anything that makes it easier for someone to go to your event is a great thing. We’re just getting started and taking a look at all opportunities.”

For now, the company plans to make layaway a permanent option and will be offering it for three more festivals: the Mile High Music Festival in Denver; Rothbury in Rothbury, Mich.; and the All Points West Music & Arts Festival in Jersey City, N.J.

Beverly Hills concert production company Live Nation Inc., which announced a merger with West Hollywood ticketing giant Ticketmaster Entertainment Inc., does not plan to offer any payment plans like layaway, said Live Nation spokesman John Vlautin.

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