New Era Of Live Entertainment (Video)

Wall Street Journal did a great job of shaping the future of concerts. They have taken the time to study the effects of covid-19 and how it has affected the music industry. As mentioned within the video, the industry was on track to generate almost 30 billion dollars this year for live entertainment before the pandemic hit. After re-evaluating this they have discovered that the industry is expected to lose about 75% of their projected revenue.

The industry is taking a large loss this year, that will take years to recover from. According to the managing director of Midia research, Mark Mulligan, it could take up to five years to get the sales back on track. He mentions that it may never be the same due to the many new ways to experience live music such as virtual shows. The creators of the world-famous video game Fortnite have now helped shape the future of live music. They now have intertwined the game, with virtual animated concerts but it is still to be determined how profitable this collaboration will be for the music industry. The trends are shifting but there are now many new ways to experience live music. You can now stream online concerts, tune into the Fortnite concert experience, and the all-time favorite.... Live music!

How do you prefer your live music experience?