Spotify launches virtual concert series; Charges $15 for pre-recorded shows
Spotify is experimenting with virtual concerts. The music streaming major has thrown open bookings for five different live concerts from artists such as The Black Keys, Jack Antonoff of Bleachers, Rag'n'Bone Man, Leon Bridges, and girl in red. These "live" concerts however are 40 to 75-minute pre-recorded sessions that can only be viewed at a specific time and won't be available on demand.
No refunds if you miss scheduled air-time for pre-recorded shows
The tickets cost $15, but at least a free Spotify account is necessary to purchase tickets and view the concerts. However, the tickets come with a few caveats. For starters, they are tied to individual accounts and aren't transferable. Although Spotify allows users in different time zones select appropriate air times for the pre-recorded streams, there are no refunds if you miss the show.
Concerts can't be viewed on Spotify app, but through browsers
The Spotify blog post states that the five concerts are scheduled to air through next month, but The Black Keys concert is airing next Thursday on May 27, with others following through on subsequent Thursdays. The initiative seems experimental and the streams won't even be integrated into the Spotify app. Fans will have to use their browsers to view the "live" concerts instead.
Spotify experiments with virtual concerts as pandemic lockdowns ease
The timing of Spotify's move on the virtual streaming concert market is questionable since most of the West is getting vaccinated and looks ready to resume actual live events soon. The streaming service had allowed artists to list live shows through its app using partners such as Eventbrite in 2017, with a similar scheme floated in 2020 along with streaming concert discovery service Songkick.
Spotify wants a slice of touring and live events pie
Live concerts and tours are significant revenue sources for even the biggest artists in the music industry, owing to extremely low royalties earned from physical album copies and even more minuscule returns from streaming royalties. To put this into perspective, Spotify claimed to have made $40 million in ticket sales through its Fan First initiative providing early access to show tickets and other perks.
