AR/VR adoption in music industry

Abstract

The entertainment industry is undergoing a change due to technological advancements and evolving consumer needs. Both consumers and content creators are looking to develop more immersive and engaging experiences. This trend has catapulted itself during Covid 19. With live touring of artists suspended, many artists found it difficult to stay connected to their fans and engagement was a concern for majority of the artist. Online live streaming of concerts and events on social media was a viable way to connect. Although there seem to be viable consumers for pay-per-view online concerts, the extent to which the fans are willing to pay remains uncertain. Virtual reality concerts, where world users participate in a live streamed concert performed by artist in a virtual environment, although less common was found to be much more lucrative. For instance, virtual reality concert by Travis Scott during last April within the Fortnite video game platform had a record-breaking participation of 12.3 million unique players. The concert features state of art fantasy driven effects with virtual holographic image of Scott performing. The show and the tremendous response are indicators of breaking creative boundaries. The music industry is therefore under evolution, with AR and VR as the potential next steps. Music is an experience, and these technologies are undoubtfully a way to enhance the experience. Although AR and VR have started to taste success the existing barriers to adoption of these technologies have been hampering the artists and distributors reach mass of the target audience. Even with plentiful benefits, widespread implementation might face pushback on multiple fronts.