Current Event Analysis

1. The article, “How Livestreaming Is Bridging the Gap Between Bands and Fans During
the Coronavirus Outbreak” by Cherie Hu begins with her experience attending a MetalCore
show via livestreaming. She then goes on to take about how concerts as we know them are not
possible considering COVID and the guidelines that accompany it, but livestreaming is filling
that space. Livestreams not only create an experience for fans but can generate income, making
them mutually beneficial and sometimes, more personal.
Hu also mentions how COVID has resulted in millions of dollars in losses to the concert
industry, and how the entire concert experience cannot be digitally replicated. However,
livestreaming is the closest, most accessible thing. Acting as what Hu describes as a
“supplemental tool for increasing fan engagement and reach.” Hu begins listing different event
that will be live streamed like, a John Legend concert, a Cuerentena Fest concert featuring over
fifty acts, and virtual parties.
These virtual events’ success and engagement has been spectacular, and Hu claims it
could disrupt the music industry in a big way. Artists could only host virtual shows if they
choose. This would completely eliminate not only the physical tax touring has on artists, but
would also cut the monetary expenses that go into curating and executing a tour.
These events take much less capitol to produce and have the ability to generate massive
amounts of money. Hu offers Clare Means a sing-song writer as an example. She managed to
make $1400 in just one hour from virtual tips. Then Hu speaks about another artists, Emma
McGann who makes up to 90% of her income by livestreaming.

2. Surprisingly the first livestream was actually a concert. Showcasing low resolution
performances of several indie bands in the 90s. Around the same time the Rolling Stones also
live streamed a show, so music has gone hand in hand with live streaming since its inception.
Now there are an abundance of platforms to watch from or stream on, and buzz around it is only
getting bigger. For example, Coachella the popular music festival garnered 82 million views
within its first weekend in 2019.
These events are becoming so popular not because they parallel the concert experience,
but because they illicit similar emotions. At times, these livestreams can be more personal, and
intimate compared to traditional concerts
Ultimately, the waters are still murky surrounding livestreaming and how it will
ultimately evolve. Consumers are still not privy to paying for virtual concerts and the global
market is still young and proves not to be universally sustainable in monetary terms. None-the-
less it is ushering a new era for the Music Business world, marked by heavy use of technology.
Hu, C. (March 17, 2020). How livestreaming is bridging the gap between bands and fans during
the coronavirus outbreak. PitchFork.
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ps://pitchfork.com/thepitch/music-livestreaming-coronavirus/?verso=true