We've made it. Co-Pro in Prism is here, giving you a purpose-built solution to add Partner Deals to your Prism events and define the percentages of your show profit each partner will receive. This initial release will calculate profit splits within Prism and generate a formatted Co-Pro CSV, allowing you to easily calculate balances and finals for settlement.

Co-Pro is an add on feature, to add Co-Pro to your account, send an email to accountmanagement@prism.fm.

Table of Contents:

Head to the 'Deals' tab on an existing event. If you have the permissions to View/Edit Talent and Talent Financials, click the new 'Create Partner Deal' button above the headliner talent deal to add a Co-Promoter to an event.

On the next page, choose or create a new contact as the Co-Promoter and define the percentage of the profit that they will receive in the Co-Promoter share of Profit/loss field (1). Lastly, add an optional per ticket bonus to the deal or leave as $0 in the Bonus Terms (2) section. These bonus $ will go to the Partner and be deducted from your Net Profit on the event. Click 'Save' on that shiny new Partner Deal.

Note: Multiple Partner Deals can be added to a single event, and can be entered with up to 2 decimal places. All together, partner percentages cannot exceed a total of 100% on a single event.

Work with a Co-Promoter often? Partner Deal(s) can now be built directly into Prism's event templates in Org Settings. Add a Partner Deal to new or existing templates to save time when creating Co-Pros in Prism.

Once a Partner Deal has been added to an event, an additional Co-Pro tab will appear at the top of the event, along with a 'Partner Deals' section below the support talent in the Deals tab.

In a Hold, the Partner Deals section will show the Co-Promoter and/or company, a description of their deal, estimated earnings, and buttons to add adjustments, edit the deal, or remove it entirely from the event. Once an event is Confirmed, the 'Actual Earnings' column will appear.

To add a reimbursement or deduction to a Partner Deal, click the 'Adjustments' icon, enter the name and amount in the pop-up, then hit 'Save'. Click the 'Expand/Collapse' arrow on the far left to see a summary of the Partner Deal and any adjustments that were added.

ProTip: Use adjustments to increase a Co-Promoter's payout if they need to receive a percentage of a revenue stream that differs from the percentage of their profit split. Please send us a chat or email support@prism.fm if you need further assistance in this scenario!

If any ancillary revenue streams should be included in the Partner Deal, navigate to the Revenue tab and click the new 'Include in Co-Pro Split' toggle on the appropriate line item. This will factor the additional revenue into the final profit split.

Now that Co-Pro Earnings/Losses are calculated in Prism via Partner Deals, you can get a better understanding of how the Co-Pro affects your bottom line!

Partner Earnings/Losses will be listed in the Internal Settlement tab, as well as in the event's Budget Summary and will be factored into the Net Profit on the event. Use the toggle to switch between Co-Pro Estimates and Actuals in the Internal Settlement, as normal.

Note: Co-Pro numbers are currently not included in Prism's breakeven calculations, or the show health bar.

Use the new Co-Pro tab to settle with the Co-Promoter. This tab will display the calculation of the profit split for each partner on the event, taking into account all Partner Deal adjustments, Additional Internal Revenue included in the deal, and total expenses. This tab is meant to be exported to a CSV to determine the outstanding balances between Co-Promoters.
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Expenses in the Co-Pro tab will default to the Actual Internal Expenses on the event, and will match the Internal Settlement tab; however, they can be overridden manually if the Co-Pro specific cost amounts should differ at settlement.
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To override the Co-Pro specific costs, click the 'Edit' button above the Expenses table to enable the cost editor (1). Update the numbers as needed for settlement, and press 'Enter' to save each edited amount (2). Click the eyeball to include or exclude any expense line items from the Co-Pro settlement CSV (3). Excluded expenses (notated by a strikethrough), will also be removed from the total Co-Pro expenses calculation. Click 'Done' to exit the editor (4):

All updated numbers will appear in purple text with an icon to indicate that the amount has been overridden (1). To revert numbers back to their original amounts (Actual Internals), delete the desired amount while in the editor, and press 'Enter' (2):

Overridden costs will be reflected in the 'Total Expenses' amount in the summary at the top of the Co-Pro tab, and will affect the rest of math in the waterfall to get to each partner's total earnings:

Back on the Internal Settlement tab, note that the 'Total Expenses' amount in the summary will remain unchanged to preserve your Internal Actuals (1), but the Co-Promoter's earnings and Net Profit will reflect the updated amounts from the Co-Pro tab (2):

The column headers for each partner will be exported in the Co-Pro settlement CSV.

Click the button at the top of the Co-Pro summary to download a formatted CSV to enter actuals and calculate final balances for each partner.

The exported CSV Shows:

1. Open the CSV and format the Revenue, Expenses, and Finals tables as the 'Currency' data type, then enter the revenue and expense actuals for each Co-Promoter in their respective columns. Sum each partner's revenue actuals to find their totals, then do the same for expenses.

2. Under the Finals section, calculate the Current Balance by subtracting each partner's total expenses from their total revenue. Current Balance will tell you how much each parter is up/down on the show based on how much revenue each collected and which expenses each paid for.

3. Calculate each partner's Balance Owed by subtracting the Current Balance from the Show Profit Split. The Balance Owed will tell you who owes what amount based on the amount each partner collected and spent. A negative value means a partner owes money, and a positive value means a partner is owed money. In the example below, Wembley Stadium owes Acme Promoters $238,309.75.

4. Once the balances are calculated, send the spreadsheet to the Co-Promoter and save the CSV to the Files tab of the event for reference.

When a Partner Deal is added to an event, the Co-Promoter is also automatically added to the event Contacts.

Using Prism's Reporting tool, surface events with a specific Co-Promoter by selecting them as the 'Event Contact' or 'Company' in the report filter. Run a report to see how shows with this Co-Promoter have performed in the past, or view their total earnings across multiple events in the report Summary.