Everyone loves music and there’s no bigger buzz than seeing your favourite band or artist in the flesh. The lights, the stage, the views, the colossal sound system and all-important atmosphere created by the crowd is the stuff that dreams are made of – but with ticket limits and geographical issues, it’s not always possible to attend a show in person.
One of the latest developments in the world of live streaming, virtual concerts offer an innovative way of enjoying all the action of a big gig or concert without having to leave the home.
Live streaming influencing concert attendance
Live concert streaming has been hyped as the future of music for over a decade and now it has finally come into its own, with more people than ever signing up to watch their favourite band rock out over the World Wide Web.
Many people believe that that live concert streaming will be a direct cause of a dwindling physical crowd presence; however, it seems that this new form of live entertainment actually complements live attendance and actually allows more people to share an experience.
In fact, according to a study by Digitell, 30% of people who watch a livestream of a musical event will attend that same event the following year.
And, this infographic based on iconic Californian music festival Coachella goes to show just how healthy live music event streaming is in this day and age (Source: Livestream’s “The Ultimate Guide to Livestreaming Events”):
Testing out Subscriptions (SVOD) as a revenue model
It’s proved to be winning formula for live sporting events, so there’s every chance that a subscription based revenue model will provide music content providers with plenty of scope for success in the near future – and when it comes to music, there’s just so much content to play with.
There are already several places where music fans can subscribe to watch hundreds of thousands of concert videos, including sites such as Qello, a subscription-based service ($7.99/month) that promotes itself as the Netflix of concert films and documentaries – and these online musical spaces are picking up momentum every single day.
By making it readily available online, musicians, broadcasters and content providers can reach bigger crowds and grow their revenues.
Adding the extra dimension
In short, live streaming has the potential to add an extra dimension for the fans; the mass acceptance of mobile, live streaming apps and even virtual reality, could mean that viewers can access a whole host of weird and wonderful video content and get a completely different experience than they usually would when attending a show (e.g. behind-the-scenes footage, 360 degree video, interviews and more).
By making it accessible online, musicians and broadcasters can reach bigger crowds and grow revenues. Plus, live streaming has the potential to add an extra dimension for the fans. The mass acceptance of mobile, live streaming apps and even virtual reality, could mean that viewers can get access to a host of video immersive content and get a completely different experience than they usually would when attending a show (e.g. behind-the-scenes footage, 360 degree video, interviews and more).
Of course, when it comes to music, there is often a lot of red tape involved – especially when you’re talking about creative licence – but once these issues are smoothed over, live music streaming not only has the potential to be incredibly profitable, but it will also give the concert-going experience more dimension, while making it much more financially and practically accessible for a wide range of people all over the world.
Everyone deserves to see their musical hero perform live, and this virtual event streaming revolution will make it all the more possible – and that can’t be a bad thing.
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