Deal Memo

A deal memo is a summary of what's in the long-form contract without going through every clause. Oftentimes deal memos are received before the actual contracts are issued or signed. It outlines the key financial and logistical terms of a performance booking — the guarantee, deal structure, ticket pricing, merch split, billing, and any special terms. It's the quick-reference version of the full contract that the tour manager uses during settlement.

What a deal memo includes

Artist guarantee or payment structure (versus deal, flat guarantee, door deal), ticket pricing and capacity, merch commission percentage, billing (headliner, support, festival), production and hospitality requirements summary, deposit and payment terms, and any special clauses (radius clause, cancellation terms, recording/streaming permissions).

How tour managers use deal memos

The deal memo is the TM's reference during settlement — the document that says "this is what was agreed." When the promoter rep presents the settlement sheet, the TM checks every line against the deal memo. Discrepancies between the deal memo and the settlement are where negotiations happen.

Deal memo vs. contract

The deal memo is a summary; the full contract (issued by the booking agent's agency) is the legally binding document. In practice, everyone on tour works off the deal memo because it's the digestible version.