When the COVID-19 pandemic hit, the music industry had two choices - stop or adapt. Thanks to some wily music executives and innovative artists, the music may have been paused, but it didn’t die.
It’s for a Good Cause
After the success of pandemic fundraisers where artists lined up to raise donations, there was no doubt that live streaming music events were the way of the future. Virtual events became the place to interact with fans, release music, and maintain your musical footprint in an industry where you’re only as good as your last hit.
The Numbers are In
A recent consumer poll by the United Talent Agency (UTA) discovered that 90% of concertgoers replaced the live music experience during stay-at-home restrictions.
The study on “Media and Entertainment in the Time of Coronavirus” revealed that music fans needed their live music fix, and they turned to the internet. With 46% of people admitting they watched live streaming and 28% of those paid to watch a live stream, the music didn’t die - the delivery changed.
R.I.P. Live Concerts
Are packed concert arenas a thing of the past?
The answer is no - but live streaming isn’t going away.
“For a population that is seeking closer connections to each other and to the talent, being physically present at the event is the purest way to experience that,” said Joseph Kessler, global head of UTA IQ. “But over the last 16 months or so, consumers have come to see the benefits of these virtual events.”
The UTA study found that seven in 10 concert attendees who participated in a live stream concert indicate they plan to continue live streaming events even after venues open their doors.
Show Me the Money
With the past success of the CBS primetime special Adele One Night Only and Amazon Prime’s live streaming performance by Kayne West (Ye), the music industry notices how fans want to get their music. The opportunities are endless with a plethora of streaming services, like Hulu, Netflix, and HBO Max.
Enter the Game Changer - Verzuz
Making waves during the pandemic and still influencing the industry is Verzuz, a webcast series that started as a virtual DJ battle. Utilizing Instagram to live-stream the duel, the featured hip hop and R&B artists got instant brand recognition.
As a result, by August 2020, Verzuz partnered with Apple Music and Twitter, signifying the success of live streaming to launch, promote, and maintain music in a virtual format.
Pandemic Performance Patterns
While some artists choose to perform live on YouTube or other social platforms, other musicians host private release parties, exclusive performances, and smaller private events - all for a fee.
However, live-streaming revenue does not match the billion-dollar touring industry. The days of getting sweaty and losing your voice while belting out your favorite singer’s lyrics are not gone. Now you have a choice - do it at home in your PJs or grab your friends and hit the nearest concert venue.
Show Time
Live shows are making a comeback in 2022, with some of the biggest names, like Elton John, Billie Eilish, Justin Bieber, and Kenny Chesney, hitting the road for packed arenas. Meanwhile, the hazy dives and jumping dance clubs that some of the best underground artists call home are waiting for fans to start the post-pandemic party.
If you want to learn more about to promote yourself through live music events, reach out to our team today.
