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The streaming startups trying to save the music industry mid-pandemic

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October 19, 2020 at 08:46AM

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From livestreaming platforms sharing their revenues with roadies, to immersive weekend-long gigs over high-end speakers, new music companies are innovating out of a crisis

Two decades ago, digital technology pulled the record business inside out, a shock from which it has only recently recovered. But in 2020 it is helping, at least partially, to remedy a live business obliterated by coronavirus cancellations.

Early in the pandemic, the likes of Twitch, YouTube, Instagram, TikTok and Facebook filled a gap with their livestreaming capabilities. Since then, dozens of new companies have launched with a streaming-specific remit – some taking a more egalitarian and ethical approach than the tech giants – while other event companies, who until recently were dedicated to real world gigs, are offering performers and fans the option to participate in pay-per-view livestreams.

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