Live entertainment company Live Nation and live-stream platform Veeps have jointly announced that they will help more than 60 venues all over the United States with turnkey solutions for live streaming. The setup will help musicians play at the involved venues and stream them "with the flip of a switch to fans across the world.”
The selected venues in Veep and Live Nation's rotations are major tour stops, which will help artists present their work, connect with fans, and generate revenue. Typically, as Live Nation notes, it hosts at least 40,000 concerts on top of more than 100 festivals in a year. But the COVID-19 pandemic crushed Live Nation's ability to carry on with business as usual as fears grew about person-to-person viral transmissions. With this collaboration alongside Veep, Live Nation may have a chance to bounce back on its feet and inject some musical normalcy and entertainment back into the world.
What you can expect — You can expect to get live music streams from clubs, theaters, and amphitheaters in cities like San Francisco, Philadelphia, New Orleans, Chicago, Los Angeles, and beyond. In the case of The Wiltern in Los Angeles, the livestream is already set up and expected to go live on May 7. Tickets will sell for $15 per head.
The co-founder of Veeps, Joel Madden (of Good Charlotte fame), stated, "With the flip of a switch, every artist playing in these venues can make their show a global event. We’ve already seen how livestream shows drive engagement across every other area of an artist’s business and the added ticket revenue will allow them to re-invest in their art and make what they’re offering their fans even better.”
“It’s a real dream come true for us at Veeps and our mission to help empower artists in their careers,” Madden added. The move will also create jobs for event managers, organizers, producers, directors, and others.
For Live Nation, this is a golden opportunity to breathe some life into its pandemic-hit business model. As Fast Company notes, the firm typically sold half a billion tickets on an annual basis before the pandemic began. Its revenue tanked by 98 percent due to various national shutdowns that required live venue arenas to hold off on events. If both companies can prove that livestreams at venues are anywhere near as good as live performances, they’re looking at a bright future.