Problems with Online Festival
Last updated
Last updated
Due to the nature of festivals and concerts, offline presence is a big factor that people are looking for. At the offline performance site, direct interaction between the artist and the audience is possible through visual and auditory functions. However, in the metaverse, there are rather few interactive elements that cheer, run, and respond with other audiences. For audiences seeking immersion in the performance site, activities on the platform are still one-way communication, and participation itself is limited, so there is no big difference between watching a music video or listening to a previously recorded sound source. Metaverse concert audiences want a differentiated experience and interaction with unexpected situations and surprise events.
If you are an artist fan, being able to see the face of your favorite artist and communicate with them is the same feeling for all fans regardless of field. Metaverse concerts can be produced without limit, but due to cultural differences in each country of the audience, preference for virtual avatar concerts is clearly differentiated. You can tell the difference by comparing the video of Ariana Grande or Justin Bieber, who performed as a virtual avatar within the platform, and BTS, who broadcast their real life.
Southeast Asia, the country with the most K-Pop fandom, has 70% of the population without a bank account. Different countries have different banking systems and different restrictions. Therefore, there is a limit to opening an account, and it is difficult to issue even a credit card. In this situation, the global K-pop market is growing every year, but it is not possible to make payments due to the absence of a link with global fans in the financial system, so there are many restrictions on global K-pop content consumption.
Global technology, entertainment, and media companies are interested in the metaverse and hold concerts based on famous artists within the metaverse, attracting offline audiences to online users. However, the limited IP of famous artists cannot secure various fields of interest from the public, so metaverse concerts exist under the limited category of music culture (POP, EDM). Since there is a concern that this type of next-generation media platform market will become a monopoly of global companies, it is urgent to secure IPs of various genres, expand stories, and build a platform that integrates communities of each culture.
