- Forbes article reports that the “business of music” becomes challenging for artists when they are unable to perform
- VR concerts are potentially much more lucrative than online pay-per-view concerts
- GTVH’s five-year agreement with Positron places the company in a strong position in the VR event space
The business of making music — and a living — became very complicated for artists during COVID-19. Most musicians make the bulk of their living through live performances and appearances, an impossibility during the global pandemic. Online pay-per-view performances became an option, but Golden Triangle Ventures (OTC: GTVH) believes the real promise is in virtual reality (“VR”) concerts; consequently, the company recently entered an exclusive partnership with Positron to develop a revolutionary immersive platform for VR concerts and events (https://ibn.fm/D8hTI).
“In 2019, the top artists on Billboard’s Money Makers list earned between 75–90% of their yearly income from live performances and appearances,” a recent Forbes article reported (https://ibn.fm/qziVA). “When deprived of the ability to perform live, the business of music becomes much more challenging for many artists. Some have attempted to offset losses by performing online pay-per-view concerts, in which viewers pay a fee to watch an artist or band (either together or in separate locations) perform live music streamed at a specific time through a digital platform on various online and mobile devices.”
In fact, according to the article, an estimated 60,905 livestreams took place between March 25 and December 12, 2020; streams with 10,000 or fewer “trackers” accounted for 46,000 (roughly 75%) of the livestreams, streams with between 10,001–250,000 trackers accounted for 19.1%, and major artist streams with 250,000 or more trackers accounted for 3.9%.
“While there seems to be a viable audience for online pay-per-view concerts, it remains uncertain whether and to what extent fans are willing to pay a fee (or ticket price) to view them,” the article continued. “Virtual reality concerts, although less common than online pay-per-view concerts, are potentially much more lucrative.”
Golden Triangle Ventures agrees. GTVH’s five-year agreement with Positron, a leading VR technology and entertainment company, places the company in a strong position in the VR event space. Positron’s platform, developed with Golden Triangle Ventures for its entertainment division under Lavish Entertainment, has the ability to elevate live concerts to the next level by offering more freedom to audiences to join remotely on VR headsets, AR-enabled mobile devices and 2D streaming devices.
“This amazing new platform will enable us to monetize our events globally and license this technology to other event promoters around the world to accomplish the same goal,” said Golden Triangle Ventures CEO Steffan Dalsgaard. “Imagine entering a virtual venue with a group of your friends, having the ability to watch our live events while also watching your friends dance, and having the ability to experience live performance in real time through an augmented reality that we can customize and create for the specific events we organize. This platform is unlike anything we have seen, and we are so excited to partner exclusively with one of the most reputable VR companies in the space: Positron.”
Golden Triangle Ventures noted that concerts and events hosted by Lavish Entertainment will also be available on Positron’s award-winning Voyager(R) VR motion pods, yet another new content category for location-based entertainment. Through this exclusive platform, performing artists can offer customized interactive 3D visualizations and worlds, available at both the live venue and inside the VR platform.
“This will allow audiences to simultaneously view the live 360 stream of the artist and navigate into the virtual 3D world designed by the artist or creator,” the company stated. “Complementing this, audiences will be able to buy and share tickets to events, purchase digital merchandise including NFTs, as well as access an array of content the company will be providing.”
Golden Triangle Ventures is a multifaceted consulting company with many projects being developed that provide synergistic values in the health, entertainment and technology industries. The company aims to purchase, acquire and/or joint-venture with established entities that management can help assist and develop into unique opportunities.
For more information, visit the company’s website at www.GoldenTriangleInc.com.
NOTE TO INVESTORS: The latest news and updates relating to GTVH are available in the company’s newsroom at https://ibn.fm/GTVH
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