Didja Know...??? Live Events on Perpetual Hold...Prepare for the 'Metaverse'
For the next few weeks I'll be looking at new trends that are emerging as a result of the COVID-19 crisis, with a focus on opportunities developing for AV/smart systems integrators. Last week it was the effect on movie theaters, and this week we'll look at the "COVID" effect on live events...particularly concerts.
It's telling that in a CEPro research study just released, respondents are "Developing new services and researching new products to sell" and "Re-tooling marketing presence and website" at 46% & 37% respectively...so let's do this together!
It's no surprise that live events involving large groups of people are shut down for the foreseeable future. According to one survey from Seton Hall, nearly three out of four Americans say they would not attend a live sporting event until a COVID-19 vaccine is found.
That's different, and we could just shake our heads and say "how does that affect my business?". But the industry is quickly realizing there is another way, and it opens the door to an audience that's been growing exponentially for the last decade...the gaming community.
Travis Scott Embarks on Worldwide Concert Tour Inside 'Fortnite'
Two weeks ago Epic Games hosted a live concert featuring rapper Travis Scott...from inside its mass-market online video game Fortnite.
Here's a link to a great article for more information (see "The future of entertainment..." about halfway down), but the bottom line is this: 27.7 million players showed up to watch this concert, making it the largest concert in human history by a wide margin.
Fortnite parent Epic Games is attempting to build this "metaverse," brick by virtual brick. This article in the Morning Brew states some have dubbed the metaverse a "digital third place" where users socialize, exchange money for goods, and consume media.
My son, who's a big Travis Scott fan, "attended" the show and loved it. So I look at his little gaming rig and think...how can we make it better?
And this is where AV/smart systems integrators excel!
First, let's make it more immersive...bigger (and multiple) screens, bigger sound (be it in the form of multi-channel speaker systems and/or better quality headphones).
Augmented Reality technology (AR) is also improving fast. As it does, you can be sure that live sporting events will follow suit, as AR puts viewers "in the game".
And what about ergonomics...seating for these multi-hour events is a "game changer" product category (yes, pun intended!).
So as you think about "Developing new services and researching new products to sell" and "Re-tooling marketing presence and website", are you going to follow the herd and pound the "improve your network" drum?
EVERYBODY already knows that home networks need to be more robust. Instead, why not begin branding yourself NOW as a leader in these new trends?
I believe that if you do, you'll quickly find a path back to sales growth, higher ticket price (and margin) and yes, even some fun.
Didja know...??? Is a series of "information bits" by Curt Hayes, BlueDog Group co-founder and managing partner, and architect of the BlueDog Database. Subscribe