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Abstract

The following Business Plan outlines the details of the next 5 years of operation for MetaLive; a Limited Liability company that focuses on the development and publishing of a video game that will host virtual concerts and other events in a virtual world, where the players can interact with their friends and participate to activities together. When Covid 19 put a halt on any kind of social interactions, millions of concerts were cancelled. The Live music sector of the music industry was badly hit, and one of the major income streams for the music industry slowly disappeared, heavily damaging the state of the industry. Artists saw 70% of their revenues disappear due to the cancellation of their shows and faced serious limitations in the way they could interact and connect with their fans. To find an alternative to performances and reduce the damages done to the industry, companies started innovating and thanks to the recent technology advancements, artists found news ways to perform and stay relevant through new kinds of performances: in-game performances. The pandemic helped the discovery and development of these new types of performances, that have the potential to offer an incredible augmented and immersive experience to the audience and the possibility for artists to welcome their fans in a virtual world created and built to their image. Despite the many conversations on the topic, in-game performances are not an alternative to real live performances and should not be treated as such. They come with new benefits and offer a completely different kind of experience to the audience. While these innovations are still “new”, it is important to stay ahead of the curve and keep exploring these new opportunities. Many different companies have started investing in live streaming and/or new VR technologies to create new experiences for fans during the pandemic (Tomorrowland, Coachella 360, The wave XR, Fortnite, etc…). The ones that already had concerts in the metaverse have had viewership numbers in the millions. However, most of them only occasionally hold concerts and only provide these opportunities to big artists. Till today, “small” artists do not have access to the metaverse to perform. For that reason, I am building MetaLive’s business plan. MetaLive’s goal is to build the bridge between these small artists and the metaverse to give them new tools to develop their brand, showcase their music and connect with their fans in an innovative way.

Publication Date

7-1-2022

Campus

Valencia (Spain) Campus

Metalive

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