Trade Review: Week Six (2/2)

Jay-Z To Live Stream Brooklyn Concert on YouTube

      In an effort to bring the main stage to the digital age, Jay-Z - music mogul, entrepreneur and part owner in the Brooklyn Nets - broadcasted his concert on YouTube from the Brooklyn Nets Barclay Center. Jay-Z scheduled eight shows back to back as a promotional effort to kick off the brand new stadium; however, the concert series was more than just to drive ticket sales for the Nets' upcoming season. The concert was a milestone for the mogul as he was introducing a new way to experience a live concert. Many artists have broadcasted their concerts live on television, but to move mediums from TV to Internet is a pivotal indication of how Internet and music are coming together. Already shifting the business model of how consumers listen to music from the iTunes store to now music streaming services, innovators are looking towards new outlets for the Internet and music to come together. By allowing live concert access via Internet can be a whole new way to experience a concert – allowing front row views from all the camera angles.

    In addition, the Jay-Z concert was streamed for free for all audiences, where other entertainment opportunities like the O’Reilly-Stewart debate are following in Jay-Z’s footsteps but with a twist. The debate will be streamed live on YouTube but viewers will need to pay a $4.95 fee to access the content (Moscaritolo). Not only will this be an interesting, new business model of accessing content, but also can be potentially very lucrative. For entertainers like Jay-Z to broadcast their concerts live on the Internet also allows for banner advertisements to appear on the screen. This extra revenue will allow Jay-Z to make even more money from the people that could not make it to his sold out show. I was one of the viewers during his streamed concert Saturday night and at one point the live viewing count surpassed 50,000 people, which is two and a half more times the amount of people that could even fit into the Barclays’ 19,000 stadium capacity.