With the current live entertainment industry on pause, many performing arts venues are searching for new revenue streams and solutions for what will soon be known as “the new normal”. Many are planning to reopen with a checkerboard-style seating plan to comply with social distance requirements, thereby reducing the seating to about one third of capacity. This puts additional stress on an already difficult season.
Live streaming is one way venues and artists can recoup lost revenue. Live streams can reach fans who are not able to get tickets, those not yet comfortable with attending venues and new audiences across state lines and international borders. Another opportunity for additional online revenue includes merchandise sales such as signed memorabilia, along with virtual meet and greets, and donations.
New technology solutions emerging in the market include a branded e-commerce solution integrated within artists’ websites (example: vip.artistwebsite.com). Artists can sell live stream concert tickets on the platform as a standalone item or as part of a package - to include official merchandise, etc. - all under the artist's and theater's brand. This proprietary technology allows only one view per ticket purchase.
Just about every type of business can take advantage of pay per view technology. Museum experiences could include exclusive talks with a museum curator while Zoos could include a day in the life with an animal trainer. The possibilities are endless.