I love a good gig. In fact, I am in three different bands when I am not creating content for NewTek and delivering TriCaster tutorials. But it’s not just about in-person gigs anymore. Despite the comeback of in-person events, many consumers prefer to tune in via live streams. In fact, more than half of younger consumers say they have attended a livestream event at home. And the live streaming industry is expected to reach $224 billion by 2028.
With an opportunity this big, if companies aren’t already live streaming to reach online audiences they’re probably missing out on maximising ROI with their AV tech. By harnessing the potential of easy, high-quality, and scalable live streaming it’s possible to unlock new opportunities to make extra cash while delivering awesome AV experiences for audiences everywhere.
By embracing live streaming, it’s possible to extend the reach of events beyond the physical venue, attracting viewers from around the world who can participate in real-time and engage with content. Through live streaming, viewers are empowered to curate their own unique viewing experiences, selecting camera angles and perspectives that interest them, allowing for a personalised and immersive event experience. This level of engagement helps keep viewers connected and creates monetisation opportunities.
SXSW, for example, brings together professionals and enthusiasts from various industries, including music, film, interactive media, and tech. This year, they decided to expand options for live streaming the event online, including access to the full 25-track conference and many of the live music sets. By adding additional live streaming capabilities, they made the event accessible for a diverse and wider audience, enhanced the marketing and promotion of the event, and increased monetisation opportunities by offering different paid access to the streams, alongside sponsorship opportunities, partnerships, and advertising partners.
Another way to maximise AV tech investment is through content capture and distribution. AV equipment holds the power to capture and preserve the magic of live performances. By leveraging content capture capabilities, these moments are transformed into valuable assets that generate ongoing revenue.
For example, high-quality recordings of performances at venues become valuable resources for any artist seeking to maintain a strong online presence. By offering them the best moments from the gig or event, it helps them market themselves and reshare with fans. The artist also sees facilitators as trusted partners in their content creation efforts, forming a long-term relationship and opening the door for future collaboration.
Additionally, content can be directly monitised by the sale of these recordings. By providing audiences with the opportunity to relive the excitement and energy of live music or events, a unique and valuable experience is offered. Whether through digital downloads, streaming platforms, or physical media, these recordings become a revenue stream that contributes to the bottom line.