TV and movie streaming services like Netflix have been around for years now, but still continue to gain popularity. Perhaps due to the production logistics, streaming live music from gigs has been less commonplace, but momentum is increasing. Wayra-supported Living Indie is one firm trying to crack this market.
Wayra announced its 2014 accelerator support for Living Indie and 12 other organizations back in January. The firms received a place to work at the Wayra offices, acceleration funding and business coaching from industry experts. Living Indie's first gig broadcast from the UK took place on April 12 and the company has now streamed 15 gigs from Spain and three from the UK.
In addition to getting its first gigs streamed, Living Indie has designed and launched its Web platform on which around 30,000 gig views have been delivered, has built up a social media community of more than 6,000 followers and has generated over £12,000 (US$22,000) in revenues. Company managing director Andres Sanchez tells Gizmag that the company is pleased with its performance so far.
"Working with Wayra has given us the opportunity to reassess our model and look at innovative, different ways to generate revenue," says Sanchez. "As with many tech startups, we have great opportunities to generate income with bigger scale. The key challenge for us now is to prove the concept at a smaller scale, and demonstrate to our users and backers just why this is going to be such a compelling experience."
In order to ensure that users are given that compelling experience, Living Indie must ensure high quality in every aspect of its productions. Gigs are filmed using HD cameras, while the sound is captured from the mixing desk before being encoded and compressed. A content delivery network is then used to to replicate the captured signal and send it for broadcast on the Living Indie website and streaming platform, which are built with its own technology (and continue to be developed), rather than use YouTube or other streaming services like some of its competitors. "We’ve paid attention to the smallest details of the technology in order to optimize the functionality," says Sanchez.
Living Indie sees its main competitors as sites like Boiler Room, Qello and Concert Window, although each one has a slightly different means of operating and the firm believes that this leaves a niche in the market that it can fill. "We want to be something like the Netflix of live concerts," explains Sanchez. "A place where you have 30 live concerts taking place in a month, you can book a ticket for the one that you like and enjoy it with your friends, either in your favorite bar or in your living room."
Sanchez acknowledges that it will be a "tough model to perfect," but believes that the rewards for the company that gets its right promise to be big. He's also encouraged by the the start that Living Indie has made and the response it has had from bands, audiences and the media. The acts that Living Indie has worked with so far have recognized the opportunity for exposure and connecting with fans around the world. Larger bands have been less forthcoming, but the company knew this would be the case until it has grown to some extent itself and, for the time being, is making a selling point of helping people to discover new upcoming bands.
Media coverage has stretched to the UK's Economist and Sanchez credits that partly with the concept being something that everyone understands straight away. "It combines the immediacy of tech and social with the fervor of music," he says.
As with many tech startups, Living Indie is still feeling its way and must be prepared to be flexible whilst keeping its goals in sight. Wayra's support has given the company momentum and credibility and, if it can capitalize on that, then it may be able to realize its dream of becoming the Netflix of live concerts.
Source: Living Indie