Alumni to Alumni, "Leading in a Pandemic: New Ways to Play | Summary and Q&A

TL;DR

In this alum to alum session, industry experts discuss the impact of the pandemic on live events and sports, and explore new opportunities for the industry.

Key Insights

• 😀 The live entertainment industry faces significant challenges due to the pandemic, but it also presents opportunities for innovation and reimagining the business models.
• 🧑‍🎨 Virtual events have gained popularity during the pandemic, providing a platform for creators and artists to continue engaging with their audience.
• 🖐️ The sports industry can play a crucial role in advocating for racial equality and promoting diversity within the organization.
• 🫒 The success of virtual events will depend on the ability to create immersive and interactive experiences that capture the essence of live performances.
• 🧑‍🎨 Smaller independent artists can capitalize on virtual platforms to expand their reach and connect with a global audience.
• 🥺 The pandemic may lead to a new normal where a hybrid approach of in-person and virtual events coexists to cater to different audience preferences.
• 🫒 The live event industry should focus on developing inclusive practices, supporting emerging talent, and fostering innovation to stay resilient in challenging times.

Transcript

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Questions & Answers

Q: How can the live entertainment industry adapt and monetize online live performances, particularly for independent artists?

The live entertainment industry can explore platforms that facilitate virtual events and provide monetization options such as sponsorships, ads, or partnerships with ticketing services. It's essential to create engaging experiences that cater to the changing demands of the audience.

Q: How can the sports industry become more inclusive and promote racial equality?

The sports industry should focus on creating a racially diverse workforce and providing equal opportunities for underrepresented groups. By supporting athletes' freedom of expression and addressing racial disparities within organizations, they can lead by example and contribute to a more inclusive society.

Q: What is the potential impact of the pandemic on the demand for live events in the future?

The pandemic has accelerated the adoption of virtual events and may lead to a new normal where in-person and virtual experiences coexist. People may continue to seek virtual events for convenience, expanded access, and reduced travel, even after the pandemic. However, the live event industry will still have a place for those looking for shared experiences and a sense of community.

Q: How can smaller independent artists benefit from the changes and challenges brought by COVID-19?

Independent artists can leverage the rise of virtual events to reach a global audience without the need for extensive travel or large-scale production. They can explore various online platforms, collaborate with other artists, and monetize their performances through innovative business models and direct fan support.

Summary & Key Takeaways

• The session focuses on the challenges faced by the sports and live entertainment industry during the pandemic and the need to adapt to new ways of gathering.

• The San Francisco 49ers' president, Paraag, discusses the importance of sports as a distraction during the pandemic and the role of the industry in promoting racial equality.

• Nathan, former CEO of Ticketmaster, talks about the impact of the pandemic on the live entertainment industry and the potential for new business models.

• Michael introduces his startup, Find Me A Stream, which aims to connect content creators and users interested in virtual live events.