Will Livestreaming Be to Music What TV Was to Sports?
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Fabrice Sergent: What we can see from the pandemic is that fans and artists pivoted very quickly to livestreaming. We did everything we could to evangelize, but when I see that after a few months you had 86% of our fans that watched the live streams. More than once a month, you had 53% that were watching more than four music live streams every month. So, once a week. So direct competition in a way was the Netflix of the world. On the app side, it was even stronger. I'm looking at survey results we polled. 70% of artists did the live stream on a monthly basis. And 85% said that they're going to continue to do so. We promoted a 100,000 live streams, including the great ones that D.I.C.E. did and others, but that's a lot of things, a lot of live streaming events for an industry that was almost non-existent before. And frankly, I guess everyone on this panel would probably agree that we didn't like live streams before the pandemic. It was not a great thing.
The first thing that happened is this maturity on the artist and fan side--of all ages, by the way, on the fan side, I can tell you that it was not an 18-to-25 thing. We had all ages. That was definitely the case.
Now the long-term vision is that live streaming will be be to live music what television became two sports. A global opportunity, a broader opportunity for the performance to be discovered and to be watched. It might become the new GA, the new general admission. But it's going to take time, and it's going through set stages. And that's why now we are seeing the live music industry experimenting with it, and that's what we call hybrid. For example, we are going to have a time when some shows will be hybrid. We're seeing lots of agents and artists adding as a last show at the end of a tour, a good live stream for all of these who want to watch again or to all of those who missed it. At Bandsintown, because we have data about where the fans of the artists are located, we are showing artist how many fans are left out of the tour based on the location of the dates and what is the livestreaming opportunity in term of business, if the artist wants to offer these fans an opportunity to see the show.
It's probably going to take three to five years for this industry to mature, and to discover the right format. But what I find very exciting and super interesting is the resilience of the artists, their creativity, their ability to fight for their living and, and from the entire industry, frankly, was phenomenal. So the speed at which this industry is transforming itself is extraordinary. We're witnessing a huge transformation which again, over time will become revolutionary.