How live streaming has consumers increasing their digital footprint The world has changed its habits because of COVID-19, leading people to become more active digitally. With the increase in digital foot traffic, it can become easier to incorporate and promote new technologies like virtual reality and live streaming. According to Lindsay Lehr from America’s Market Intelligence, “We can expect a boost in everything right now. Some of this consumer behavior being introduced right now will stick and cause sustained growth through this year and next year.”A shift has taken place in the way people view video streaming platforms and technology. As it used to be seen as a convenience, live video technology has become a necessity. Platforms like Zoom and Skype have gained popularity for live streaming events, conferences, meetings, sports classes, and more. Unfortunately, according to CNBC, governments were “urging Netflix, YouTube and other streaming giants to restrict HD viewing to ease the strain on the internet due to unprecedented usage amid the COVID-19 pandemic." Spinning the surprising narrative into something greater, those considering making money by live streaming are now more than ever encouraged to do so.
Learn about the industry's shift to virtual live streaming It started with the delay of one of the biggest festivals in the world. Then, while the world was just barely getting over the shock of Coachella being moved to October, Live Nation and AEG suspended all concerts for at least the month of March. As the months go on, there is still no exact date when concerts and live music events could return.
The biggest industry problem Did you know that the average ticketing service fee in the U.S. is 27%?1For far too long, event organizers have been getting their profits squeezed from all angles: from high ticketing fees, to increasing costs for production and performers, 68% of music festival organizers reported profitability as their biggest challenge.