NEW YORK (WABC) -- Music venues remain closed in New York City as part of the unprecedented shut down of live entertainment due to the coronavirus pandemic, but it has created new opportunities for fans and artists to livestream concerts directly to the consumer.
What began with movies and TV show has moved into music, and one of the biggest bands in the world is showing us what's possible.
BTS is a phenomenon, but the amount the K-pop band earned for a single concert this month is still astounding: $50 million for just one show that was streamed live to fans around the world.
"The pandemic has basically shut down the live music business," said Thomas Hesse, the former president of Sony Music's Global Digital Business. "It's a $30 billion industry that's just evaporated into nothing."
Hesse created a new company called DREAMSTAGE with classical cellist Jan Vogler and tech visionary Scott Chasin.
"Allows artists to stream to their fans live and sell tickets for that," said Hesse, who is CEO of the new venture.
That sounded great to rapper Polo G, especially since his "Finer Things" is such a big hit right now.
"We have to find innovative ways to still connect with our fans considering the fact we can't tour," his manager and mother, Stacia Mac, said.
She was determined to maintain his momentum with a live stream.
"We turned down many, but this team seemed more hands on, the production was much better, and it was with an artist that we have always known and loved," she said.
That would be Chief Keef, who shares the bill with Polo G on Friday night.
The show, with special guests Lil Reese and Tes X, will originate in Los Angeles, but you can watch in your own home in HD and get a glimpse of the future.
"We're going to make it so beautiful, so amazing, so real, so alive, that you really want to do that and continue doing that," Hesse said. "Even when you're going back to the concert when the pandemic's over."
Hesse expects music fans to return to live concerts when they can, but once in the habit of watching live shows from home, those same fans will continue watching shows at home. He likens it to sports fans who might only attend a few games per season but watch many more on TV.
For details about the Polo G/Chief Keef concert and more information on DREAMSTAGE, visit Dreamstage.live.
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