Summary by TwinMind · 6m 15s
Summary by TwinMind · 6m 15s
How K-Pop Is Reinventing Virtual Concerts | WSJ
How K-Pop Is Reinventing Virtual Concerts | WSJ
The Wall Street Journal
The Wall Street Journal
Beyond LIVE Concert Concept
- SHINee performing live for 100,000+ fans remotely
- Fans paying ~$40 each to watch from home
- K-pop blending real and virtual worlds during pandemic
- Contrast with free livestreams on Fortnite/Instagram by other artists
Industry Impact & Revenue Crisis
- Global concert revenue dropped 70% last year due coronavirus restrictions
- Music tours halted by pandemic
- K-pop bands successfully convincing fans to pay for virtual concerts
Beyond LIVE Technology & Production
- Concept launched by SM Entertainment April 2020
- Kim Sung-Hak's Dream Maker company creates stage designs
- Uses immersive technologies for enhanced visual effects
- Delivers shows impossible at offline concerts
- Dream Maker produced 11 livestream shows (Super M, Twice, others)
- FaceTime integration as new concert experience element
- Recreating feeling of togetherness virtually
Fan Perspective & Accessibility
- Jenny Plyler (US SHINee fan): last saw band in person 2017 SHINee World V tour
- Prefers live concerts but happy with online access
- Solves geographic limitations when tours don't reach certain countries
- Scheduling conflicts resolved through virtual format
Industry Analysis & Western Comparison
- Mike Schabel (concert industry analyst): K-pop's "fan first approach"
- Western artists can learn from K-pop online show methods
- Focus on making audience feel their contribution/cheering matters
- Creating sense of participation and event value
SM Entertainment Strategy
- Lee Sung-Su (CEO SM Entertainment): developing fan experience since 2012
- Pandemic accelerated existing virtual concert plans
- Advanced concert format with new revenue opportunities
Revenue Model & Economics
- SHINee Beyond LIVE: $20+ cheaper than in-person concerts
- Virtual show capacity: 8x stadium capacity
- Merchandise sales for online events
- Smartphone stands for viewing
- Fan lights syncing real-time during concerts
- Lee declined disclosing total Beyond LIVE profits
- Venture confirmed economically viable
Government Support
- South Korean government involvement
- March announcement: $17 million investment
- Creating virtual concert space for smaller agencies/independent labels
- Supporting online audience reach initiatives
Health & Safety Protocols
- Temperature checks for band and staff
- Pre-concert health questionnaires required
- Pandemic safety measures maintained despite virtual format
Future Plans
- Band looking forward to post-pandemic developments
- Anticipation for return to in-person performances
