Live Streaming Concerts on Social Sites
December 1, 2009 by
In October, YouTube hosted one of the biggest live-streamed events of the year—the U2 Concert at the Rose Bowl. It was viewable in 16 countries on U2’s official YouTube channel and generated 10 million views worldwide.
Tonight, R&B star Alicia Keys will be performing live on YouTube from a theater in New York City in honor of World AIDS Day. The concert is free to watch, but viewers are encouraged to donate to Alicia's charity of choice, Keep a Child Alive, which helps raise funds for children with HIV/AIDS.
Live streaming concerts on video sites like YouTube, Hulu, and Ustream appear to be all the rage right now in the music business with big-name acts like Foo Fighters, Weezer and Dave Matthews Band all getting into the act. Perhaps concerts will even become a regular part of Vevo, YouTube’s upcoming web venture with Universal Music, which plans to offer ad-supported, premium music video content with hotlinks to buy concert tickets and merchandise.
Although these types of high-profile live events are typically staged to promote a band's new album, we like the fact that Alicia Keys is using her star power combined with YouTube’s massive reach to raise money for an important cause rather than merely a way to sell more albums.
Today's most successful artists also tend to be the most accessible ones. They set up MySpace and Facebook pages, they Twitter with their fans, and they support worthy causes. These proactive endeavors make the artists more likeable, and help build a loyal fan base for their music.
With the music industry facing major upheaval and decreasing revenues due to the Internet and pirating, artists and record companies are looking for bold new ways to generate income. For some bands, touring provides a significant source of income. So now the question is, will free concerts online cut into ticket sales of the actual road tour performances?
There are two schools of thought on this. Some old-school industry veterans feel that if you give something away for free, it devalues the product and the concert experience loses its specialness. Music, like other forms of entertainment, is a business and those who create the magic want to be paid well for their efforts. Record labels need to make a decent profit or they'll go out of business. If you take away the big upside profit potential, they argue that artists won't be motivated to make good songs.
Others in the industry have a different philosopy, a more positive outlook on the future prospects of the medium. They believe the more people who hear your music, whether for free or not, the better chance you'll have of generating positive buzz and word of mouth advertising, which can ultimately lead to higher record sales in the long run.
Live-stream concerts give artists a chance to strut their stuff and expand their fanbase. Consumers who might be unfamiliar with the singer can see what they're missing and discover what all the fuss is about. Some folks might decide they should get out of the house more and go see the artist live when they hit town. Others might be convinced to open up iTunes and spend a few bucks on new songs for their iPod.
In other words, you can give away the content for free when you have alternative revenue sources to support it.
What do you think about the notion of watching a live concert from the comfort of one's couch? Will this innovative new trend really catch on, or will it merely be a passing fad? Let us know in the comments below.
