Live entertainment and arts event producers can now reach beyond the four walls of the venue like never before. Online live events are emerging as an effective and profitable way to create engagement, build awareness, and increase revenue.
But there’s a catch.
For online live events to work as a revenue source, the producer must be able to put on a good show and deliver quality content. A talented amateur musician can fire up his webcam and give an acoustic performance from his bedroom as a gift to his fans. But for online events to become a significant additional revenue stream, professional organizations that know how to produce great in-person shows have to lean into this new format, spending the time and energy to do it right.
If you can do that well, it pays off! Actor-pianist Hershey Felder delighted his fans and sold thousands of tickets at a solid price point for an online Mother’s Day concert. Using a simple two-camera setup, his crew produced a show that looked fantastic. A chance for fans to virtually interact with Felder after the performance added value to the ticket.
In mid-May, country-rocker Travis McCready was the first to play a live, in-person, indoor concert after the COVID-19 lockdowns. The show was historically significant because it had a live audience, but what’s almost as significant is the number of tickets sold to online viewers watching a stream of the performance. Though the venue operated at a fraction of its normal capacity, the producers made up for lost in-person revenue with nationwide online viewers. Both the reach and revenue of the concert were expanded by streaming the show live as it happened.
Musicians, theaters and cabarets have already started to produce financially successful shows designed to be broadcast and experienced online. Soon, more and more normally in-person show producers and artists will join them.
It’s a huge opportunity to grow your live entertainment event business — and the time to get started is now.
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