7 Techniques For Making Money With Livestream Concerts
Given that the pandemic doesn’t appear to be leaving anytime soon, live-streaming isn’t either, meaning artists would do well to find as many ways to maximize the revenue they can draw from these virtual events as possible
Guest post by James Shotwell of Haulix
Performing online is now a part of the ‘new normal,’ so it’s time artists learn how to maximize their return on livestream performances.
The evolution of digital performances is happening faster than you may realize. In the six months since the COVID-19 pandemic canceled countless live events, artists have gone from Instagram performances to HD, multi-cam events that cost money to attend and include exclusive merchandise offerings. Artists all over the world are trying to bring the excitement of live events into the virtual space. That is creating a lot of great opportunities for musicians to make money while engaging with their audience.
But let’s get this out of the way: If you are a relatively new artist or group with very few fans, making money online is not your top priority. You should concern yourself with being seen and heard before you worry about income. Without a community around your music, it is incredibly difficult to earn revenue with your art. Engagement comes first. If you’re not at the point where you can get 100 people to engage with a piece of content, then don’t worry about money.
For everyone else, good news! There are a lot of ways to make money online with live performances, and many more are in development.
In this Music Biz update, host James Shotwell breaks down seven ways artists are earning money through livestream concerts. These efforts range from ticketed events and exclusive merch to partnerships with local promoters and recycling content for future promotional purposes. Check it out:
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James Shotwell is the Director of Customer Engagement at Haulix and host of the company’s podcast, Inside Music. He is also a public speaker known for promoting careers in the entertainment industry, as well as an entertainment journalist with over a decade of experience. His bylines include Rolling Stone, Alternative Press, Substream Magazine, Nu Sound, and Under The Gun Review, among other popular outlets.