By Jason Anderson
From a sea of flickering flames swaying to Dylan’s “Blowin’ In the Wind” to thousands of iPhone lighter apps bouncing to the tunes of Lady Gaga, there’s no doubt that live concerts (and live events, in general) have changed dramatically. But you haven’t seen anything yet.Live streaming events are a booming industry—with concerts and music fests leading the way. Just look at the Foo Fighters, who drew in 440,000 live streams to a Web-only show. Or take the live stream of a U2 concert last fall watched by nearly seven million people.
Soon fans will be able to watch concerts anywhere, anytime and on multiple devices. And for content producers, broadcasters and telcos, opportunity (and audience) awaits. Live events can generate revenue and offer greater audience interaction and user flexibility. Consider the following:
The TV, Internet and
Mobile Collide. Concerts are no longer limited to stadiums, arenas
and auditoriums. Performers are now reaching larger audiences through
live streaming and on-demand video (via TVs, PCs, and smart phones).
Local to Global. Local concerts now service their nearby market and go global through live streaming—creating new opportunities for monetization. Take Endavo-powered TheCoolTV, which broadcasts live localized events and offers a vast library of classic concerts on demand. Through a partnership with Sinclair Television Group, TheCoolTV is expanding to 34 new markets to reach 23 million new homes. Those markets will be able to view killer content on TV with folks around the world tuning in online. The plus side: more audience almost always means more ad dollars.;
Social Media Integration.
Live streaming events also open the door to big-time audience engagement.
Case in point: at this year’s Grammy Awards more than 135,000 Grammy-related
tweets were generated--that night! Live streaming events combined with
social media greatly boosts brand awareness leading to higher revenues.
