Is a boom in livestream concert subscription services on the way?

·2-min read
Bandsintown has recently launched its own subscription service dedicated to livestream concerts.

Despite the cancellation of concerts and festivals, the various players in the sector are determined to bring music to life in a different way. That's why Bandsintown has just launched its own subscription service, so that music lovers can enjoy a catalog of livestream performances.

Since its launch in 2007, Bandsintown has been working to fill concert halls around the world with its 58 million users. But what happens when these entertainment venues remain persistently closed due to the pandemic, plunging many music industry professionals into precarious situations? The application offers a solution in the form of Bandsintown PLUS, a new subscription service dedicated to livestream concerts.

Every month, American music lovers will be able to attend 25 online performances of many international artists. And there's something for everyone: from emerging talents such as California trio We the Commas and Canada's ODIE, to established groups such as Waxahatchee and Rodrigo y Gabriela. Concerts by Phoebe Bridgers, Soccer Mommy, Little Dragon, Empress Of and Chromeo will also be broadcast on Bandsintown PLUS in the coming weeks. As a bonus: the new service offers various benefits to its members, ranging from an intimate Q&A with their favorite artists to access to concerts broadcast on other platforms.

To take advantage of it, all you have to do is pay a monthly subscription fee of $9.99. That's an amount that's not unlike those of the streaming platforms Netflix, Disney + and even Spotify. "For the past year, we've been hungry for live shows and for a chance to support the artists we love. Bandsintown Plus is an opportunity to break the barriers of cost and location that have historically hindered live music experiences. Now, with Bandsintown Plus, live music can be more affordable, more accessible, and more approachable," said Bandsintown Managing Partner Fabrice Sergent.

A new sector that brought in $600 million

Although how they're regulated is still a subject of debate, livestream concerts are becoming a real source of income for artists unable to tour the world. According to a recent report by MIDiA Research, these musical performances generated $600 million in 2020, with a flurry of paid events organized in the last two months of the year. One such event was Dua Lipa's latest immersive concert, "Studio 2054," which sold five million tickets.

Live streaming though has a long way to go, illustrated by the fact that penetration is just 9% and audiences have an early adopter, younger male skew," note the authors of the study. While livestream concerts may have been marginal a few years ago, they seem to be part of our future. "Live streaming could be to live music what pay-TV is to sports, creating in the long run a market that is even bigger than the core business. But between now and then there is a lot of hard work to be done."