Updates to offers, settlements, and contracts are now live in Prism! Based on client feedback collected over the past few years, we've implemented some changes to our documents that will better align with industry standards. This article outlines the newly released document updates and terminology changes.
Sales Breakdown / Ticket Table
Outside Promoter / Rental terminology
Certain sections of the document have been reordered
“Additional Deal Terms” has moved to the bottom of the offer by default
NOTE: You will have the option to move this section between ticket scaling and costs for your organization if needed.
Contact section has moved to the bottom, just above “Additional Deal Terms”
Holds section has moved to the bottom, just above "Contacts" and below the expenses sections
We've reordered fields within certain sections (e.g. “Event Date(s)” can be found at the bottom of the “Event Details” section”)
You now have more options for customizing which sections to hide or show on the offer (see full list of all settings you can show/hide for your organization at the bottom of this article).
We've aligned the terminology in the app to match the changes on documents
“Sellable” tickets line was removed from the Event Summary
“Total Gross” was renamed to “Gross Potential”
NOTE: “Gross” at settlement (no change to calculation)
“Adjusted Gross Potential” was introduced = Gross Potential minus Facility Fees and any other Pre-settlement Fees
NOTE: “Adjusted Gross” at settlement (this is a new line item)
“Net Gross Potential” was introduced = Adjusted Gross Potential minus Taxes.
NOTE: “Net Gross” at settlement (this is a new line item, previously known as “Adjusted Gross” in Prism).
Depending on the deal type, the bottom line is either “Net Profit Potential (Promoter)” or “Net Revenue to Split”.
NOTE: You have the option to show/hide the line item for your organization.
Check out the full glossary here
Non-split point deals (before)
Non-split point deals (after)
Split point deals (before)
Split point deals (after)
The deal one-liner has been formatted to stand out more
And the deal description includes “after Taxes, Fees, and Agreed Expenses” where applicable instead of the Split Point (you’ll still see the Split Point Summary between ticket scaling and expenses further down in the document!)
Retroactive bonuses display on the second line
Adjustments included in tax withholding will appear above the tax withholding line (if there is tax withholding)
Adjustments not included in tax withholding will appear below the tax withholding line
Deposits each display on their own line for reference
“Total Potential Payout” has been renamed to “Artist Walkout Potential”
NOTE: “Artist Walkout Remaining” at settlement
A new “Per Ticket Fees” column, which is the sum of all Facility Fees and Pre-Settlement Fees per ticket will display if there are any fees
NOTE: In some cases, where the fee is a percentage of Gross, this value may have more than two decimal places.
A “Net Price” column, which is the Ticket Price minus all Per Ticket Fees, will also display if there are any fees
There will be a subsection at the bottom of the table showing “Net Gross Potential”, which is Adjusted Gross Potential minus Ticket Sales Tax
“Kills” will be hidden from ticket scaling on offers and settlements by default
NOTE: You will have the option to show/hide kills for your organization.
Tour offers and settlements will now include columns for Allotment, Comps, Kills, Sellable, and Ticket Price
Outside Promoter / Rental events
We have made additional updates to the verbiage in rental events to make the information and language in Rental Events and Offers more consistent and intuitive across the platform. These changes include:
The “Promoter” tab in rental events has been renamed “Rental”
The options “Rental” and “Ticketed Partner Deal” have been updated to simply “Ticketed” and “Non-Ticketed”
“Adjusted Gross” has been updated to “Net Gross Potential” on offers and “Net Gross” on settlements
“Adjusted Gross potential” has been added to the Event Summary on rental offers
“Ticket Sales Tax” and “Net Gross Potential” appear in both the Event Summary as well as the ticket scaling section of the rental agreement.
Allotment, or “# Sellable” has been removed from Event Summary, but remain in the Ticket Scaling section
“Promoter Payment” has been added to the Internal Settlement when revenue has not covered room fee/costs
If you have any questions please send us a chat or email email@example.com