Technology / 04.08.20
Livestreams Are Moving to Hard Tickets to Replace Lost Touring Revenue
Billboard (04/02/20) Mims, Taylor
Companies like Side Door and Looped are stepping up to help artists make revenue from livestreamed performances in the wake of canceled tours due to the coronavirus pandemic. Side Door, which matches artists with atypical venues for live shows, saw its entire concert series turned upside-down before co-founder and artist Dan Mangan decided to host an online show through Zoom. Side Door CEO Laura Simpson says the show was very successful, and on April 2 the company announced the launch of its ticketed private, streaming events as a way to generate revenue for artists. "I don't think it is super difficult for artists to ask fans to pay for a livestream, especially since it is something that the fans want. In these times, entertainment is something everybody is looking for," says Looped CEO Prajit Gopal. Looped was mainly a virtual meet-and-greet platform for artists and fans, but now the platform allows artists to invite fans to ticketed livestreaming shows and "hang out" in a virtual venue with merchandise links, fan questionnaires and other amenities. "If you can't build a way to create value for the audience to pay for that experience, then the donations are going to dwindle, the artists are going to hit the poverty line and we are going to have a real crisis on our hands," Simpson warns. "Our mission is so imperative right now to support the artists in a meaningful way."
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Tags: COVID-19 , Coronavirus