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Monday, January 25, 2021

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Mint

It will certainly be interesting to see how many, and which artists will turn to virtual world concerts in 2021! I agree that it's more defensible to split the future of virtual world performances and virtual world content, especially when looking at the type of act in question. Virtual world content might also be a great way for artists to dip their toes into the water and see what the response in a virtual world is like before committing to a much more expensive and time-consuming concert.

Another possible factor to keep in mind could be benefit concerts. Louis Tomlinson (who had the 3rd highest selling video streaming concert of 2020) split his concert profits between 4 charities and his touring crew. He raised ~$3 million with ~160,000 tickets sold for a one-time concert much less elaborate than BTS or Dua Lipa (the 1st and 2nd highest selling video streaming concerts respectively). Metallica, Avril Lavigne, Post Malone, and David Guetta, among others, have all done them. I don't know what the revenue-sharing deal between Fortnite and the performing artist looks like, but unless the virtual world agreed to free/low-cost hosting, that could be another barrier to the adoption of virtual world performances. Doesn't make sense to invest so much money into a virtual world show when that money invested could have gone directly to the cause they're fundraising for.

It'll also be interesting to see what virtual world concerts/content looks like when in-person concerts will be possible again. They could be a great way to reach out to fans in locations where physical tours aren't stopping, but then again, they wouldn't be the only option available to artists. Interestingly enough, Billie Eilish has done a video streaming concert but not a virtual world one - yet! Totally agree that she'd be a perfect candidate for one.

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