Getting Creative with Industry Changes The Music Industry has evolved into a different kind of business since Coronavirus has impacted the world. Being an artist or musician during a global pandemic is a challenging career because the typical revenue streams are completely cut off when COVID-19 regulations keep everyone inside and apart. Live music is to be heard live in person and with people around you; it’s hard to make musical experiences feel the same when there is an illness circulating everywhere.
The Issues with Live Streaming with Music Twitch, and its parent company Amazon have found themselves in a messy situation with the music industry following a blistering letter addressed to Amazon founder/CEO Jeff Bezos.
There is no denying that the live events industry was hit the hardest by the COVID-19 pandemic. Since March, event organizers have been unable to host events at normal capacity. Some have begun to host small events with health and safety requirements in place while others have stuck to virtual events. We surveyed a group of event coordinators to get the pulse on the state of the live events industry.
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Leveraging Live Stream Software with Virtual Events to Offer Pay-Per-View Video Every day YouTube hosts over 30 million active users on their platform. There is no denying that YouTube is the most popular video hosting platform out there for video creators. Some of the world’s biggest influencers use the platform to connect and engage with millions of fans.
Why Live Streaming is Taking Over Screen time has rocketed by 47 percent on smartphones and tablets. We are connected to the internet now more than ever, but at what cost?! It's clear that this trend has taken a toll on traditional cable companies. According to a study done by Survey Monkey, “60% of those that use both cable or satellite AND streaming services say they’re thinking of dumping cable/satellite in the next 12 months.” Even with compelling service bundles created by cable companies like Spectrum or Time Warner, customers are "cutting the cord" and choosing to put their money towards live and pre-recorded video streaming services.
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.