Forbes recently reported that it’s not just millennials choosing experiences of material possessions, but “people young and old are opting for experiences over things”. This desire for experiences has unraveled across industries, especially the travel industry. Globetrotters prefer to experience unique experiences as part of their travel, which has contributed to the success of Airbnb where travelers can live in locals’ accommodation rather than copy-and-paste hotels.
Airbnb is a prime example because it also launched Airbnb experiences, an opportunity for hosts to offer their own local experience and make additional income at the same time. One of the most in-demand and successful Airbnb experiences are now Airbnb concerts.
Airbnb concerts are music performances by local artists, typically in intimate settings with a small group of people compared to the usual larger gig experience. The setting where the intimate concert takes place is often unique, beautiful, and certainly memorable. The Airbnb host doesn’t have to be the musician themselves, but rather, they can collaborate with a local musician to create the event. However, it is the Airbnb host who gets to arrange ticket prices via Airbnb and is responsible for putting on the show.
There is an interesting opportunity here. If you don’t own a place yourself, you can get help from Airbnb directly to source a cool venue. Make it a good experience by also availing fresh snacks and drinks. You can buy these from local suppliers like Goodtogoco or check out weekly ads from many supermarkets on Kimbino to stock up for cheaper. By securing a cool musician, unique venue, and cheaper food, you can make a real profit as an Airbnb concert host.
Airbnb is on hand to help with venue inspiration, but there are other reasons to consider organizing. The platform will handle all payment processing 24/7 and gives hosts Experience Protection Insurance. You’ll also get your own page to advertise your Airbnb concert event.
Not to forget that Airbnb already has millions of active users; this increases your chances of selling out, thereby making your efforts and event more profitable.
Naturally, you will need to pay a commission to Airbnb for using their services and accessing their readymade marketplace. The event organizer will get to keep 80% of ticket revenue, meaning Airbnb takes the other 20%. However, you must factor in the cost of the musician, the venue, and any food and drink to ensure you’re still making a worthwhile profit.
If you want other ideas to earn an extra income, check out our post discussing ways to legitimately make extra money.
Due to worldwide COVID restrictions and border closures, many Airbnb concerts are going ahead as remote gigs. Airbnb hosts can still organize awesome online Airbnb concert experiences by choosing a fantastic musician. This is made easier and more profitable if you are the musician yourself.
Airbnb is seeking people that are genuinely passionate about their local music to become hosts. There are specific guidelines and standards you must meet to get approved.