“I don’t think these platforms’ recent rise as “game-changers” per se, but as something additive that going forward will be part of an artist’s repertoire of ways to perform, create, connect with fans, sell merch, advocate, fundraise, generate revenue, promote and more. – Andy Gensler, Executive Editor, Pollstar, VenuesNow (USA)

It goes without saying that we all miss the thrill of live concerts in packed venues and at festivals. An entire industry, the artist community and their fans are eagerly waiting for live concerts to resume. Moving forward through this unprecedented global pandemic, the future may not, however, involve a return to ‘normal’.

A new normal is being bootstrapped and co-created as we speak by artists, consumers, start-ups, platforms and the whole music ecosystem, with livestreaming and virtual live experiences playing a key role.

In this exclusive interview, part of the exclusive Midem whitepaper named Livestream and Virtual Live Experience: Exploring the New Frontier of Live Music, get exclusive insights into livestream and VR  from Andy Gensler, Pollstar.

On mobile, download the full whitepaper at the bottom of the page 

WP Livestream

> From your global perspective and knowledge of the sector at Pollstar, do you see livestream & virtual live experience as a long-term game-changer for the Live Music ecosystem?

Andy Gensler: Live streaming and virtual experiences have been building for decades and their proliferation and adoption have been accelerated by temporary conditions. When these conditions recede, demand for livestreaming and virtual experiences will likely also recede—but in no way entirely. I don’t think these platforms’ recent rise as “game-changers” per se, but as something additive that going forward will be part of an artist’s repertoire of ways to perform, create, connect with fans, sell merch, advocate, fundraise, generate revenue, promote and more — much like TV and the web have been for decades.

> Livestream platforms are flourishing since March with a series of startups already attracting VC Capital. How do you anticipate the evolution of the relationship between those “new entrants” and established players in the Live Music Market?

Andy Gensler: Livestreaming is easily the most dynamic parts of this year’s live market as the barrier for entry, depending on what’s offered, is not necessarily high and in-person performances all but halted. As a result, there’s dozens and dozens of livestreaming platforms and we hear there are more major live companies that are going to get into the market in the coming months. Artist, promoters and management companies have created their own, some work with venues directly, some are part of gaming platforms or existent social medial platforms, some monetise, others offer better audio and video quality or VIP access – the market is still developing rapidly. Likely, as with most business sectors, a few market leaders will emerge and dominate the space who can hit all the marks: quality audio-video, ease of monetisation, fan engagement ability, tools for marketing and promoter, ease of use, etc.

On mobile, download the full whitepaper at the bottom of the page 

> Can we already talk about a Livestream Economy considering the growing number of ticketed or monetised livestream?

Andy Gensler: Yes we can. It’s a nascent market but we are seeing more six or seven figures grosses mostly for major acts, charities and fundraisers. Pollstar is actively putting together a chart that will include these revenues as they report their grosses.

> How do you expect the “New Normal” to be in 2 years from now in terms of hybridisation? 

Andy Gensler: Hybrid is the word we hear most about the future of Livestreaming and again can be used in a variety of ways to promote tours, generate revenues, give added value, engage fans, sell merch, etc. As we transition in the coming months back to a safe live in-person market, which will likely be saturated with artists wanting to get back on the road and pent-up consumer demand, it is also likely most fans would rather use their money to see artists in person with their community than spend any more time at home on their laptop, smart phone or computer.

On mobile, download the full whitepaper at the bottom of the page 

 

Learn from key players from the music industry and get their insights about virtual live experience in this exclusive Midem whitepaper that captures the essence of the current trends and take a look “behind the scenes” to unveil the key dynamics that will shape the future of music in the digital age.

These discussions will continue at Midem 2021 during the Live Summit and Midemlab “Live Music Experiences” pitch session.

Read more…

On mobile, download the full whitepaper at the bottom of the page 

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