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