Livestreaming may be the music industry’s hottest trend in 2020, but a new study from MRC Data, a division of Billboard‘s parent company, outlines just how impactful the new performance medium has been in adapting to this year’s global pandemic. Based on a survey of fans’ behaviors, attitudes, and preferences, the study doesn’t only define livestreaming’s current success, but highlights its resounding potential for growth moving forward. For instance, although 47 percent of music listeners see virtual concerts as a necessary step for the industry, the majority of those sampled are yet to break the ice and attend a digital performance.
For those wondering about the trajectory of the digital concert, industry insiders like former Sony Executive Thomas Hasse, predict that the burgeoning format will grow into a $6 billion industry in the next three years alone. An astronomical number, but one that makes sense given the digital innovation seen in the music industry this year. In this sense, listeners have been given the chance to experience everything from digital blockbuster festivals like Tomorrowland, to completely outside of the box ideas like Oliver Heldens’ Everywhere.
So will digital concerts be the future of music? Maybe—but will they be a part of it? Definitely.
Via: Billboard
Featured image: Tomorrowland
