The Future of Music: Live-Streaming Shows for Virtual Tips
Musicians of the future might never need to step into a live concert venue to perform ever again.
Forget ticket sales, they will have something to sing about over virtual tips.
According to the Wall Street Journal, a trend that’s been gaining steam among up-and-coming musicians is live-streaming shows via a host app, then having audience members leaving them virtual tips that can be cashed out for actual money.
One 16-year-old from Texas mentioned in WSJ’s story made an astounding $100,000 last year on the YouNow app. At competitor Live.ly, the average artist makes about $31,000 a month. And the trend is not just geared towards music-makers; the apps are targeted at any type of live content creator, which could provide a windfall for skateboarders, comedians, and dancers.
As far as how the financials are spread out, one-third of the tip goes to the app host like Apple Inc., while the other two-thirds goes primarily to the music-maker, with just a small percentage going to the app itself. Hence those decent paydays.
For more about how YouNow works, watch the video below.