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Recovery Economics Music, Games, Live Streams and the Future of Concerts

Mark Mulligan, Karol Severin and Keith Jopling
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The 20,000 Foot View: In April 2020 Travis Scott’s Fortnite event pulled in            million players. While this was happening, the global artist community was scrambling to plug the income and engagement gap caused by            cessation of live music, by turning to live streaming. The music industry had just got turned on its head and the solution was to throw everything at the wall to see what stuck. But there is a much bigger opportunity here that goes far beyond lockdown era. This is more than the future of games and music, it is in fact an alternative future for live music. It is the ultimate lockdown legacy.

Key Insights

  • Live music            to meet the human needs            belonging and esteem; post-lockdown it            also need to meet the            fundamental human need of safety
    •            will likely be a mid- to long-term part of life, so the traditional live sector will face a ‘cost of confidence’ as portions of artists and fans alike will initially stay away
  • Lockdown came            early for the live streaming            sector; it is under-developed, under-monetised,            under-professionalised
  • Virtual concerts            streaming and generative virtual performances)            become an important component of            live music sector as it            out of lockdown
  • The industry            to come together to create            universal, extensible discovery layer for            concerts else risk it becoming            across company siloes like streaming           
  • A new            concert value chain is emerging            traditional live companies are not            yet – embedded in
  • Four key            models will emerge: basic; platform;            platform; full stack
  • The big            platforms will favour free events            drive scale for advertisers but            sector needs a clearly defined            model with scarcity key to            premium tiers
  • Big tech            will play the role of            and arenas while off-portal destinations            artist apps will host smaller,            super premium events
  • Games represent            major near-term opportunity with long-term            which can be realised by            artist fan bases with specific            titles

Companies and brands mentioned in this report:  Accenture, Amazon, Alphabet, Apple Glass, Ben Howard, Beyonce, Call of Duty,            Dillon Francis, Diplo, Disciple Media, Epic Games, Facebook, Facebook Live, FIFA, Flohio, Fortnite, GigRev, Grand Theft Auto, Hovercast, Instagram Live, Koffee, Live Nation, Maestro, Magic Leap, Marshmello, Marvel, Marvel Avengers, Melody VR, Minecraft, Next VR, Oculus Venues, Patreon, Periscope, Slowthai, StageIt, Star Wars, Steve Akoki, StreamYard, Super Mario, Taylor Swift, Tencent, Tencent Music Entertainment, Travis Scott, Twitch, Twitter, YouTube Live