HYBE-backed live streaming platform VenewLive is hosting a virtual hip-hop festival run by Snoop Dogg.
The next show is powered by Kiswe, a video streaming technology company. Kiswe has helped host some of the biggest virtual concerts in the world, including the Bang Bang: Con: The Live virtual event for BTS. The new event kicks off on Sunday, August 7, 2021 at 8 p.m. ET.
Universal Music Group partnered with HYBE and YG Entertainment to invest in a joint venture called KBYK Live just four months ago. VenewLive is the first project resulting from this joint venture. In 2020, during the pandemic, 1.4 million viewers in 200 countries watched Kiswe’s pay-per-view concerts.
The virtual hip-hop festival run by Snoop Dogg is called The RENAISSANCE: EP 1. Tickets start at $ 9.99 and organizers say attendees will be able to “choose their own adventure and explore a range of immersive content ranging from music to interviews to comedy sketches. fashion to art.
Many metaverse-style virtual gigs have mimicked Fortnite and Roblox’s ability to host musicians and entertain virtual attendees. VenewLive users have a “fan reaction” feature that allows them to take video selfies to capture their reactions to the performances.
“We are delighted to bring this innovative festival to hip-hop fans around the world. One of our missions is to provide creative flexibility to artists, and Blank Canvaz really uses our technology as the canvas for this production, ”said John Lee, CEO of VenewLive.
“This will be the first time that VenewLive has hosted a mix of entertainment beyond music, and we are thrilled to be part of the creation of this new entertainment format.”
But not everyone believes virtual concerts are here to stay. Michael Rapino, CEO of Live Nation Entertainment, said he believes virtual concerts were an interim measure taken during the pandemic. Going forward, Rapino says he believes virtual concerts will serve as an add-on for fans who cannot attend live shows in person.
While live gigs certainly won’t go out anytime soon, virtual gigs will only get bigger. That’s because it’s easier for 500,000 people to put up with a $ 9.99 ticket price to see Snoop Dogg virtually than to convince 20,000 people to pay more than $ 100 for a ticket.
Virtual events can even feel more intimate when friends can throw watch parties and enjoy the gig from their home theaters – rather than the nosebleeds. This is a new emerging category for artists to generate revenue from fans around the world.