Glossary › Buyout
Buyout
Cash or a fixed amount in place of something, most often a meal (a "meal buyout").
A buyout replaces something with money. On a show day it almost always means a meal buyout: instead of serving a hot meal, the venue pays each person on the tour a set amount in cash.
The term also turns up in other places: a production buyout is a fixed amount paid in place of the venue supplying certain production, and some offers are described as a flat buyout fee that covers everything for one price.
Example
The hospitality rider asks for "hot meal for 8 or a $20 per person buyout." The venue can't cook, so the TM collects $160 at load-in and hands it out. (EXAMPLE numbers.)
Tips
Put the buyout amount and headcount in the advance, note whether it's paid at load-in or settlement, and record it on the day sheet so people know whether dinner is coming.