Live Streaming — the way out for Indian Music Industry
The pandemic has brought the Indian Music Industry to a turning point. As live events and the traditional ways of reaching out to the audiences is not available right now, artistes and music labels have taken their virtual concerts to Zoom, Facebook, and Instagram. This started exactly a year ago, a gradual beginning taking up a smoother speed this year. In 2021 it has had substantial growth for engagement as well as brand sponsorship. Young artistes can make ₹8 lakhs to ₹10 lakhs comfortably for a show on digital platforms.
Although, it’s not the same as the live show, the atmosphere, the energy, and the spontaneity goes missing. Audiences have adapted pretty well to the concerts going online. Artistes have too noticed the potential that these digital platforms have. They are now investing in creating the right digital personas for themselves. Keeping in view that space can be monetised steadily.
Brands are taking their own time to sponsor events by calculating the risk factor. But now they seem to have understood the market and they’re stepping into back events and concerts. Vodafone, Rupay, and Fastrack have collaborated on many shows.
Ticketing and payment sites have also been keen on collaborations and mutually beneficial partnerships. Book my show has launched a video streaming vertical. It will be host music concerts and other events. “The costs of producing an online show are lower since you’re not investing in the crew, lights, food and beverage, and other overheads,” said Priyanka Khimani, entertainment, music, and intellectual property rights expert.
But what holds in the future of online shows will depend on the role and advancement of technology. How it will ensure an experiential quality to home screens.