Supply And Demand Imbalance In Live Music

The Pollstar Live! conference held last week at the Beverly Hilton Hotel in Los Angeles was a platform for industry insiders to discuss pressing issues in the live music business. In the wake of Taylor Swift’s recent tour launch and subsequent congressional hearings investigating why it was so difficult for fans to get tickets, The Azoff Company Chairman/CEO Irving Azoff summarized one of the major themes of the conference during the “Ticketing Real Talk” panel when he said, “the fundamental problem we have at the moment is that the current ticketing demand exceeds supply, which will always lead to disappointed fans”. While the majority of that panel focused on different perspectives on who was to blame, what was not discussed is how interactive, ticketed livestreaming is an untapped opportunity that could greatly affect the supply side of the equation.

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When successful, providing a livestream alternative to fans as a supplement to a sold-out concert removes the capacity and geographic limitations inherent in a physical event and can have huge upsides for both artists and fans. For artists, livestreaming is an opportunity to take advantage of excess demand to generate incremental ticket revenue with minimal effort or expense. In addition to ticket revenue, merch sales and sponsorship placement can also be added to the digital experience. Artists can even continue to control their brand by choosing a platform with white-label capabilities so that the livestream feels like it’s occurring within their existing ecosystem.

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For fans, attending a livestream is an affordable way to access an event that they may not have the opportunity to enjoy in person. New interactive technology can help bridge the gap between in-person and digital experiences. For those fans looking to get as close as possible to their favorite artist, VIP packages can often be put together with behind-the-scenes content and more intimate Q&As with the band. Once the live event ends, the show can then be accessed on demand by any fan that wasn’t able to make it live or just wants to relive the magic later.

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Kiswe is uniquely positioned to close this gap between artists that are looking for ways to generate more revenue from an existing show and fans that are looking to connect with their favorite musicians. Our Kiswe Live product is a white-label video distribution platform designed to deliver flawless streaming quality and has been proven to be able to handle the world’s biggest livestream audiences.

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While a livestream concert will never directly replace the in-person experience, we believe that digital events can act as a supplemental way for artists to reach the entirety of their fan base and help close the gap between supply and demand.