This attempt was to bundle membership rights and high-priced tickets. As online music paid performances mature, more commercial monetization methods such as audience rewards, peripheral product sales, and brand placement will also become possible.
This is a win-win attempt for musicians and users. The number of audiences that an online music performance can accommodate far exceeds that of a LiveHouse performance or even a large-scale concert. The scene design, sound, stage art, and live broadcast effects subsidized or managed by the platform are far better than those of musicians at home and studios. When a top-tier combination like TFBOYS raises the market acceptance of paid online music performances to a new level, more musicians will come from this expanded traffic pool and a brand-new publicity position Benefit.
Users who are interested in chasing music festivals and Live performances will also benefit. Essentially, music consumption buys experience, not just products. If online music performances can provide good enough audition, participation and interaction, those young people who pay for the experience will invest more incremental time and money. It will also broadly build the mindset of users paying to watch online music performances.
Experience drives consumption and consumption activates creation. When this new business model is fully verified, NetEase Cloud Music Today’s exploration may bring the entire online music industry into a new golden age.