Updated: Apr 18
Digital music firm eMusic has launched eMusicLive, a platform for the live music industry to stage virtual concerts.
The platform, created in partnership with digital music solutions provider 7digital, will premiere with a series of exclusive live performances from a set of emerging artists.
The music industry is in a moment of change. From large-scale arenas to local bars, social distancing has forced shows around the world to be cancelled, creating a severe dent in the finances of artists.
Live touring is a crucial source of income for musicians and often makes up over 75% of their total earnings. While artists can currently perform on YouTube Live, Twitch, Instagram Live and other mass-market social streams, their ability to monetize these performances is restricted and their reach is controlled by the platforms themselves.
eMusicLive lets lets artists livestream in the same way as traditional gigs by bundling ticketing, music sales, merchandise and collectibles to maximize revenue opportunities. The platform will offer an integrated artist-specific 7digital storefront to enable artists to sell their music catalogue or promote their latest release, thereby generating more exposure for their music and more value from their sales.
Each event can be customized to feature sponsorships that help artists, venues and brands grow their revenue and reach.
Artists can embed streams from YouTube Live, Twitch, Instagram Live or host a performance directly on eMusicLive so that they reach their existing social media fanbase on a commercially sustainable platform.
In addition, eMusicLive transforms the way that artists engage with fans, giving them the tools to enhance and monetize these interactions. The platform facilitates real-time VIP experiences, Q&A and virtual rewards all within an end-to-end, closed-loop system.
“At eMusic, we believe in technology that creates sustainability, removing inefficiencies or providing new income streams for artists,” explains eMusic President, Tamir Koch.
“Even before COVID-19, artists performing online have been limited to platforms where they play for free and rely on multiple suppliers – this creates a fragmented approach to planning and promoting events as well as selling tickets, merch and music.
“We’ve built eMusicLive to bring all these commercial options together in one end-to-end solution. For the first time, this means livestream can be a primary source of income for artists,” Mr Koch added. “Our unique partnership with 7digital will allow artists to generate income streams from music sales and interact seamlessly with fans from all corners of the world, which sets our new offering apart from anything else on the market today.”
Commenting on the partnership, Paul Langworthy, CEO of 7digital, said: “Social distancing measures in place around the world are creating an opportunity for new forms of live artist-to-fan engagement. While there are plenty of platforms, none have captured the true essence of a proper show, which should include both the performance value for the fan and commercialization value for artists. We are delighted to now be delivering this with eMusicLive, using our commercial to help recover lost income for artists. This is a new, emerging style of platform that we also see having tremendous value for venues as well as retailers and brands for whom music can play a key role in their engagement strategy or business model.”
To mark the launch of eMusicLive, the platform will be hosting a series of 20 exclusive live performances from some of the most exciting independent and emerging artists. Over the coming days, music lovers will be able to sign up for concerts from names including Dirty Blonde, The Periwinkles, Duthie, Jordan Tice, ESKOH, Nathan Storey, and WANYI.
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