Hybrid is the new normal

 

The impact of Covid-19 has been hugely damaging on the live events industry across Europe. It has led to the widespread enforced closure of venues and the postponement, or cancellation of events.
 

Thankfully some venues have been able to re-open albeit with heavily reduced capacities. It has caused severe financial losses for all live event industry professionals.
 

Currently, there is not a cure that can fix the problem. But there is a cure that can at least relieve the pain: hybrid events.
 

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Hybrid is the new normal

 

Covid-19 has led to a widespread enforced closure of venues and the postponement, or cancellation of events. Thankfully some venues have been able to re-open albeit with heavily reduced capacities.
 

Currently, there is not a cure that can fix the problem. But there is a cure that can at least relieve the pain: hybrid events.
 

Learn moreContact us

Streaming, virtual ticket sales and physical ticket sales via the same platform

Hybrid events with a combination of pay-per-view live streaming, virtual ticket sales and physical ticket sales is a brilliant way for organisers to overcome the limitations of Covid-19, and to turn those limitations into a limitless outreach.

TicketCo is the only available service globally that can handle streaming, virtual ticket sales, and physical ticket sales within one single platform.

This has huge advantages:

  • Smooth and unified customer journey
  • Unified marketing activities with one single CTA target
  • Easier reporting and settlements with one unified report
  • Great up-selling possibilities throughout the whole customer journey

“I truly believe hybrid events are the future, especially with ongoing disruption, the permanent risk of local lockdown, and travel continually reduced.”

Bengi Unsal, Senior Contemporary Music Programmer at the Southbank Centre

Why you should do hybrid events

  • The Covid-19 situation will last, and nobody knows for how long. You need to generate revenue in the meantime.
  • There will be no sudden re-opening. We will experience a gradual re-opening, and will likely face some setbacks along the way.
  • It is an opportunity to retain your customers and grow your audience globally.
  • Hybrid events will remain for years to come and the opportunity to be at the forefront of this is now.

“Online content may be the way to ensure that audiences have access to music whilst the pandemic continues.”

Todd Wills, Artistic Director at Bristol Beacon

Why you should use TicketCo TV for your hybrid events

  • TicketCo is the only available service globally that can handle streaming, virtual ticket sales, and physical ticket sales within one single platform.
  • This is because the pay-per-view streaming service is built on the top of the TicketCo event payments platform.
  • TicketCo is the only one stop shop for organisers of hybrid events, where they can do the streaming and arrange all their sales – including up-selling of any kind – through one single system.

“I’m definitely on board with hybrid events and I think there are going to be a lot more to come. If you’re able to keep that level of interaction for people not physically there that’s what audiences want.”

Emmanuel Sonubi, comic and founder of The Stand Up Chat Show

Goldman Sachs foresee a 400 percent growth

Pay-per-view live streaming of live events is here to stay, whether it is singular or one out of two elements within a hybrid event.

Goldman Sachs released a report earlier this year where they predict a revenue cutback of 25 percent from live music in 2020. At the same time they foresee that the live streaming audience will grow by 400 percent by 2030, from today’s 341 million to 1.2 billion. The yearly global revenue is expected to increase from £60bn to £122bn within the same period.

View the full report here

You need to reach the early majority

The predicted increased from £60bn to £112bn are large numbers, and for a music industry badly hit by the Corona crisis this report brings hope for the future. But a word of caution: a blocker to the Goldman Sachs predicted future are the abundance of inadequate streaming services that are flourishing right now. A potential blocker for a successful hybrid event may also be poor integration between the chosen ticketing platform and the chosen streaming supplier.

The key to reaching the Goldman Sachs’ numbers are smooth customer experiences. The general public are merciless when they are confronted with poor customer journeys, and sadly a lot of the streaming services available in the market right now offer just that. A mixture of legacy ticketing tech and premature streaming tech does not make magic. Instead it creates a huge gap between the early adopters and the early majority, which is a severe problem, because building a bridge between these two customer segments is the key for any commercial success.

Innovation adoption life-cycle

The innovation adoption life-cycle is a well known and verified model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups.

Pay-per-view live streaming and video-on-demand of concerts is a new product so right now it mainly attracts the innovators and the early adopters. These customer segments are tech savvy and will cope with bad user experiences to reach their goals – which may be a pay-per-view live streamed concert with their favourite artist, for example.

The early majority will not. They will back out when faced with trouble, and the organiser who made the wrong choice when choosing their streaming partner will suffer a severe loss. They will not grow their audience via innovators, early adopters, early and late majority. Get it right and the audience could increase by 84 percent. But make the wrong choices and it could be stuck at 16 percent.

16 versus 84 percent – that is quite a difference.

“Hybrid events offer real potential for increasing access to live arts.”

Poppy Keeling, Executive Producer Wise Children

Survey suggests long lasting Covid-19 situation

This summer TicketCo conducted a customer survey of more than 2,500 of its clients in the sports, festivals, and live entertainment industries. The survey revealed several interesting findings:

  • 30% of the organisers participating in the survey have so far tried streaming during Covid-19
  • 50% may consider streaming moving forward
  • 50% consider streaming to be a possible revenue source, and think that is should be a pay-per-view service
  • Less than 6% think streaming should be a free service

“There will be a big demand for hybrid events once the public can attend events in large numbers across all sectors. People are very comfortable with technology now and it has improved connectivity and engagement.”

Kevin Baker, founder and director of Concept Events

The survey also addressed hybrid events in particular. When asked how likely it is that they will consider hybrid events with a combination of physical and pay-per-view virtual tickets, the results came in as follows:

  • 21% answered that it is very likely that they will do hybrid events
  • 23% answered that it may happen
  • 53% answered that it is unlikely
  • 3% were uncertain
  • 21% answered that it is very likely that they will do hybrid events
  • 23% answered that it may happen
  • 53% answered that it is unlikely
  • 3% were uncertain

“Hosting a small number of spectators on a drive-in basis aligned with broadcasting the event live is a fantastic alternative for us and something we will adopt in the future too.”

Tim Nash, organiser of Lombard Rally Bath

Finally the survey addressed the difficult question of when things will be back to normal within the events industry post Covid-19. The results are not encouraging for those who are hoping for a quick fix.

  • 6% think that we will be back to normal during autumn 2020
  • 13% think we will be there before New Year’s Eve
  • 28% believe that things will be back to normal before next summer
  • 38% fear that the Covid-19 situation will last until next autumn
  • 15% are uncertain

“We’ve been offering online content to our audiences, including one pay-per-view streamed concert and are looking into doing more.”

Lucy Wood, The RoundHouse

Developed with governmental support

The Covid-19 situation is a serious threat to the event industry globally, and TicketCo’s initiative to enable hybrid events through a fully integrated combination of a ticketing and a streaming service has been granted financial support from the Norwegian Government. This has been granted via Innovation Norway, which is the government’s most important instrument for innovation and development of Norwegian enterprise and industry.

“Hybrid events may be a nice supplement for sold-out concerts. The lack of physical presence may very well be compensated by interviews or backstage footage that those present at the event won’t have the ability to receive footage.”

Jon Terje Johnsen, Managing Director of Foynhagen

Hybrid festivals

The world’s northernmost jazz festival – Varangerfestivalen – recently hosted what was probably Europe’s first hybrid festival event – combining a traditional in-person component with a paid-for live stream. The milestone was covered by both IQ Magazine and The Ticketing Business News, and the hybrid event was conducted 100% within the TicketCo platform.

This would have been impossible anywhere else.

“Unfortunately Covid-19 is something event organisers will have to deal with for some time, and we believe the hybrid solution we have chosen is the long-term answer.”

Festival director André Kvernhaug, Varangerfestivalen.

Hybrid sports events

Streaming, virtual ticket sales and physical ticket sales are just as suitable for sports organisers as it is for event organisers within the live industry. TicketCo TV is the ideal solution for non-league football clubs or any other sports club with a dedicated follower base – large or small. No up-front investments, a pay-as-you-go price plan, and the market’s smoothest payments platform with ticket sales, HD quality pay-per-view streaming, and up-selling options all within the same platform.

“Live streaming of FC Isle of Man games has always been an integral component of our strategy. When your community is spread across the globe you have to be able to bring the club to the fans so that they can genuinely feel part of the narrative, part of that community, and can experience the game in real-time regardless of whether they are in the Isle of Man, Germany, the USA, or Canada.”

Ty Smith, Commercial Director, FC Isle of Man

What the organisers are saying

“The biggest problem when planning to put events on – and this can be justified by the recent lockdown of Leicester and Greater Manchester – is that local authorities have been able to act extremely quickly in shutting towns down, with hardly any notice. Unfortunately, you cannot insure against that. The difficulties moving forward for the live entertainment industry is that there will be too much uninsurable risk, that’s the biggest challenge.”

– Stuart Littlewood, Managing Director The Handshake Group

“I think people have realised that you don’t have to do things face to face all the time, whether that’s in the business world or in entertainment. I think businesses have realised they don’t have to have members of staff in an office every day. One company I know used to have six or seven offices and now they’ve downsized to four and saved a fortune. This is why I want to change the future of interactive TV.”

– Emmanuel Sonubi, comic and founder of the Stand Up Chat Show.

“We’ve done a couple of online festivals engaging around 70+ artists and we’re keen to develop more online work using a paywall but we’re just starting to find our way with this. It’s been a steep learning curve for us to move from our usual live offer to doing everything online and then encouraging audiences to pay for it.”

– Todd Wills, Artistic Director at Colston Hall

“Hybrid events offer real potential for increasing access to live arts. There are a whole range of barriers to attending – cost, distance, disabilities which aren’t catered for (well) by venues, and many more – which the addition of well integrated digital components to live programme could be hugely significant in overcoming.”

Poppy Keeling, Executive Producer Wise Children

“Digital events can be a democratic way of reaching greater audiences who otherwise wouldn’t have been able to access this music live. I truly believe hybrid events are the future, especially with ongoing disruption, the permanent risk of local lockdown, and travel continually reduced. There are clear examples of hybrid events being monetisable and economically viable, without comprising artistic integrity or production values. Long-term, this could also be a way of democratising live events and improving access for those who wouldn’t ordinarily be able to attend in person, either for physical or economic reasons.”

– Bengi Unsal, Senior Contemporary Music Programmer at the Southbank Centre

“For sold out shows in the future, I guess the new normal will be to offer pay-per-view live streaming tickets instead of just announcing that the show has sold out.”

Daniel Levin, managing director, Pustervik

Virtual ticket prices should reflect the value

When you have decided to live stream a concert, show or theatre production, the next big issue you have to figure out is what to charge. The Norwegian stand-up artist and producer Rune Bjerga has a clear stand on this matter."I think too many artists are underselling...

How TicketCo enables you to manage your online audience

An excellent customer journey or existing systems and integrations? The TicketCo TV product together with our newly developed questions module lets you have both, and tells you who's attending your virtual events.Over the last few weeks TicketCo TV have experienced...

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