New figures from Ticket Arena show that the company recorded £1 million of sales in the debut year of its Payment Plan service.

Payment Plan, which can be accessed via the company’s online ticketing platform Event Genius, allows customers to secure their tickets without having to fork out hundreds of pounds in one go, making the expense a much more manageable prospect.

For a lot of people the purchase of a festival ticket is the crown jewel of a year’s expenditure and with so many fantastic options out there, choosing which festival to splurge on can be a tricky task. Sometimes the difference between two festivals is as simple as timing and often purchases are delayed until their next payday.

That’s fine, but when the next payday comes around a different festival may have caught their eye; so how can organisers ensure that their event doesn’t come at the wrong time? The answer is simple: Event Genius Payment Plan.

In 2016, the average monthly payment taken using Payment Plan events was just £36.75, which is perhaps a good indicator of why Ticket Arena was able to help organisers sell nearly a million pounds worth of tickets using the service last year.

Allowing customers to pay in a series of instalments removes the disincentive of breaking the bank and offers them a chance to secure a ticket without too much disruption to their regular budget.

On the figures, Managing Director at Ticket Arena and Event Genius Reshad Hossenally said: “We designed Payment Plan to help festival organisers capitalise on consumer interest in their event, no matter when they announce their line-up.”

“With more choice and cost pressures than ever, by offering potential customers a flexible option you’ll only be improving your service. The customer wins and you win, which is just what we want to see.”