Will Online Platforms Become the New Ticketmaster? Will Online Platforms Become the New Ticketmaster?
As the live event industry is halted, online platforms are rising to the occasion in order to keep the spirit of concerts alive. Artists... Will Online Platforms Become the New Ticketmaster?

As the live event industry is halted, online platforms are rising to the occasion in order to keep the spirit of concerts alive.

Artists have been taking to YouTube, Facebook, Instagram, Twitter, and Twitch to perform livestreams – acting as a new norm in the industry. Live Nation even compiled a list on its website of online performances from artists across every genre.

“Just because we’re keeping our distance doesn’t mean the music has to stop,” Live Nation said in a statement on its website. “Join us daily for live streams from around the globe — follow artists live from their homes as they share music, stories, and more.”

Now, in order to help artists with a lack of income during this trying time, Facebook announced that it would begin charging for livestreams to allow musicians and other creators to monetize their performances. Fans tuning in while also be able to send musicians a “Star,” worth $0.1 per tip, along with the option to gift a “galaxy of stars.”

In addition to live streams, artists are taking a new step forward in the digital world with virtual concerts inside video games. Last year, Marshmello broke the record for the highest number of virtual viewers during his set inside of Fortnite. Earlier this month, rapper Travis Scott topped that record when 12 million concurrent viewers attended his virtual Fortnite gig.

As shows are being postponed or cancelled across the globe, ticketing giants like Ticketmaster are unable to sell tickets to shows, allowing these various virtual performances to take control. YouTube, Facebook, Twitch, Twitter, and video games like Fortnite already have a significant following, and with a payment component, Forbes suggests that they could become the new Ticketmaster.

“Kanye West can’t tour right now, but he can show up on PlayStation,” Forbes writer John Koetsier wrote. “Billie Eilish can’t do an in-person concert tomorrow, but she could perform for fans on Facebook. A million-person event — and West has 30 million Twitter followers — charging just a few dollars could bring in $3-5 million, and with much less cost than a concert in a stadium.”

We’re already heading into the digital age, and with the inability to gather through the coronavirus pandemic, these types of shows will pop-up more and more.