Side Door, StageIt, and Looped are helping artists monetize their online performances during this COVID-19 pandemic. As entertaining as live-streams are, sometimes it is easy to exit the window and move on to something else. These live event platforms usually match artists with unconventional venues for live shows.
After a week of feeling completely hopeless, I was in the virtual audience of [Dan’s] show…It was a completely different experience than what I had watch[ed] Instagram lives or Facebook lives. We had put a ticket on the show and people were staying the whole time” – Laura Simpson, CEO/Co-Founder of Side Door
Here Is How Each Of The Three Companies Help
Ticketed live-streams yield virtual sing-a-longs and an online community built around group chat rooms. For Side Door, this meant a boost in productivity and creativity. They launched ticketed, private streaming events to generate revenue for artists. Prices range from $5-$35, with no cuts.
Many artists host free live-streams on social media or on these three platforms. Though as the pandemic has wiped out artists’ touring revenues, this is a good way to help them out. It sticks with their company values and creates more shows anytime, anywhere.
Looped is a virtual meet-and-greet platform between artists and fans. Now, the app enables artists to invite their super fans to ticketed live-streaming shows. Fans can log in and virtually hang out while buying merch. Tickets range between $5-$30, with Looped taking 20%. This company prides itself on a unique experience that is easy to use and customizable for the artist.
StageIt has monetized live-streams since 2011. Jon Bon Jovi, Jason Mraz, and countless other artists used their platform. Their company is now streaming 30-40 shows a day. Tickets average at $10 each with a donation option. The company takes 20%. They’re even encouraging artists to charge for their online performances.
With live-streams bringing in some of the highest numbers, it makes sense to help out the people that write the soundtracks to our lives. It is cheaper than paying for any multi-day festival and you get to watch from the comfort of your own home. As for watching with friends, perhaps you can Zoom them in.
The music industry has taken a huge hit; we all agree on this. The next time we step foot at a festival, it could feel a little different. There is no replacement for live shows. But these three think growth in ticketed live streams will benefit the industry even after this is all over. Is it a good idea to ask fans to pay for a live-stream? What are your thoughts on that?