Live streamed concert demand Ready for prime time

The 20,000 Foot View:  Virtual concerts went from zero to a hundred at an unprecedented rate during the pandemic-shaped 2020, and the momentum carried through to 2021. But if lockdown years are like dog years, then so too the evolution of the current virtual event marketplace has been concertinaed. While this has resulted in rapid innovation it has also resulted in pragmatic shortcuts being taken. With the traditional live sector edging towards a roadmap to recovery, the virtual concerts sector has a small but crucial window of opportunity to establish its post-pandemic viability through concerted innovation in product strategy, distribution channels and revenue models.

Key insights

• The continued            around            means that there remains            period of time in which            events will retain their current           
• Live streamed            audiences remain niche, with            of            viewing at least monthly during            up slightly from            in            2020
• South Korea,            and Brazil lead with penetration            at or above            while most            markets hover around            reflecting the            market state
• Activity is            driven by a core of                       of consumers watched at least            event during            2020, while            watched            than one and            just one           
           of consumers are very interested in attending a live streamed concert, and            somewhat interested. This would represent a            increase of the current audience
• A similar            of consumers are interested in            for standard tickets, exclusive access            virtual merch, indicating demand across            live stream product spectrum
• Gamers heavily            index for virtual concert demand:            pay to attend,            would pay            backstage passes and            would pay            virtual merch
• Future adoption            be driven by format innovation,            experience, fan monetisation, and revenue           
• Product strategy            be built around three key            needs: anticipation, participation and identity
• A new            format ecosystem is needed, with            networks and video streaming services            the means of extending the            profile of shows by reaching            the artist’s primary audience

Companies and brands mentioned in this report: Amazon Prime Video, Animal Crossing, Billie Eilish, Blackpink, Driift, Dua Lipa, Facebook, Justin Bieber, Kiss, League of Legends, Liam Gallagher, LiveNow, Minecraft, Netflix, Pokémon, PUBG, Roblox, Twitch, Spotify,            YouTube