Live performances are a vital source of income and exposure for musicians, but the pandemic has made them challenging or impossible to organize. Fortunately, there are ways to monetize your live shows digitally and reach a wider audience online. Here are some best practices to help you make the most of your virtual gigs.
The first step is to decide where and how you will stream your live performance. There are many options, such as YouTube, Facebook, Instagram, Twitch, Zoom, or dedicated platforms like Stageit or Bandsintown. Each one has its own features, advantages, and drawbacks, so you need to consider your goals, budget, audience, and genre. For example, some platforms allow you to charge a ticket price, accept donations, or sell merchandise, while others are free or ad-supported. Some platforms have more interactive features, such as chat, polls, or Q&A, while others are more focused on video quality and sound. You should also check the terms and conditions, copyright issues, and technical requirements of each platform.
Every artist and brand should have 2-3 platforms that they prioritize to reach and engage their fans. Focus on your established platforms and also assess the live feature sets of each. Given the implosion of PPV we'd recommend leaning into reach and discovery.
Once you have chosen your platform, you need to create some buzz around your event and attract as many viewers as possible. You can use your social media channels, website, email list, or word-of-mouth to announce your live show and share the details, such as the date, time, link, and price. You can also create a landing page, a flyer, or a teaser video to generate interest and excitement. You should also consider collaborating with other artists, influencers, or media outlets to cross-promote your event and expand your reach. Don't forget to remind your fans a few days and hours before the show and encourage them to invite their friends.
We've found that the most impactful way to drive tune in is via real time discovery. IG and Twitter/X excel at bringing viewers to livestreams given the real time nature of those platforms. We've had great success in syndicating livestreams across highly trafficked web properties where passive scroller are transformed into real viewsers.
One of the benefits of digital live performances is that you can interact with your audience in real time and create a more personal and memorable experience. You can use the chat, comments, or other features of your platform to communicate with your viewers, answer their questions, ask for feedback, or thank them for their support. You can also create some incentives for them to participate, such as contests, giveaways, shout-outs, or exclusive content. You should also show your personality, tell stories, and have fun with your performance. Don't be afraid to experiment with different formats, styles, and genres to keep your audience engaged and entertained.
Best practice livestreaming is not livestreaming for the sake of livestreaming. No one wants a passive livestream with little or no interaction where they are just watching cameras pointed at the stage. Viewers want collaborative and participatory experiences that include curated chat, trivia, polling, calls to action, overlays, graphics and even choose your view. This approach unlocks the holy grail for marketers - extended watch time.
I think live streaming, also needs to have some unique sort of visual destination/setting, no matter how interactive it is, straight stage performances have become completely commoditized, and there is a lot of fatigue. It has to be really special to get people to tune in, in addition to some bells and whistles such as exclusive product drops. IMO live streaming is a tactic against a larger strategy that has to have an in person component as a way to amplify a special experience, not a “concert”.
There are several ways to generate revenue from your digital live performances, depending on your platform and strategy. You can charge a fixed or pay-what-you-want ticket price, or offer a free show with optional donations or tips. You can also sell merchandise, such as CDs, T-shirts, posters, or digital downloads, or offer a subscription or membership service for access to more content and perks. You can also leverage your sponsors, partners, or affiliates to display ads, banners, or links during or after your show. You should also collect data, such as email addresses, feedback, or analytics, to build your fanbase and improve your marketing.
The last but not least best practice is to ensure that your live performance is of high quality and professional. You should invest in a good camera, microphone, lighting, and internet connection to deliver a clear and crisp video and audio. You should also test your equipment, platform, and settings before the show and have a backup plan in case of technical issues. You should also plan your setlist, rehearse your songs, and prepare your stage or background to create a visually appealing and captivating show. You should also respect the time and duration of your show and avoid delays, interruptions, or distractions.