#32 - The True Cost of the Big Check: Ticketing Advances, Fees, and Fan Frustration

On the latest episode of The Live Music Industry Podcast, Matt Ford sits down with Boris Patronoff, founder and CEO of Soundcheck Capital and former CEO of See Tickets US.In this conversation, Boris breaks down how independent promoters, venues, and festivals actually get financed today and why so many of those dollars come with hidden tradeoffs.You’ll hear:Why traditional banks rarely fund independent live operatorsHow ticketing companies became de-facto lenders and what that means for fees and flexibilityThe real economics behind ticketing advances and service chargesKey differences between U.S. and European ticketing marketsHow all-in pricing and secondary markets are shaping fan trustWhy separating “the tech” from “the check” can create more optionality and long-term sustainabilityEpisode Time Stamps:(00:00:27) – Boris’s path into ticketing(00:03:39) – The financing problem & Europe vs. U.S. ticketing(00:12:30)– Founding See Tickets U.S.(00:15:30) – Growing See Tickets: festivals to venues(00:21:21) – Soundcheck Capital: separating tech from capital(00:31:26) – Underwriting risk & why banks can’t do this(00:40:08) – Optionality over monopoly(00:47:05) – All-in pricing & a potential reset(00:52:24) – Long-term belief in live eventsPlease share this with anyone that might be interested in the topics, links below to subscribe and stay in the loop with the podcast and Prism:Subscribe ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠More on⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Prism⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow us on Instagram (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@prismfm⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠)Follow us on LinkedIn (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠)Meet the Podcast Host/CEO of Prism -⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Matt Ford⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Opening Music -⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠Banana Bread - Layton.rx⁠⁠⁠⁠⁠⁠⁠⁠⁠ (Prism engineer!)