HOW TO MAKE 8-FIGURES THROUGH A SINGLE LIVESTREAM EVENT! (Tip 1)
HOW TO MAKE 8-FIGURES THROUGH A SINGLE LIVESTREAM EVENT! (Tip 1)
Tip 1: social media ads & choosing the performer(s)
For immediate release
By N. D. “Indy” Brennan
December 3, 2020 – Atlanta, Georgia – Marketing and promoting your online pay-to-view concert event can be incredibly easy if you have the audacity to break industry tradition. If promoted appropriately, a single night’s, online, live concert with the right artist and relationships can easily generate 7 to 8 figures profit. But again, you must be willing to break tradition. The following information explains how you can promote your next live, online concert event to maximize digital ticket sales and online attendance.
Social Media Ads
Let’s begin with the most common. For many, the obvious go-to for practically anything you are looking to sell or promote online are social ads. Generally speaking, this begins with nothing less than Facebook and Instagram. From here, the sky’s the limit. And while these platforms are modestly priced when comparing them to real-world marketing practices, one will still wonder whether or not he or she is getting the most bang for their buck. At the end of the day, coins still very rapidly add up to dollars.
Social ads are what most would consider a fundamental marketing requirement. But allow me to stress that, while social media ads are often effective to some degree, they are not the “be all-end all” to online marketing and promotions, especially with respect to live online performances.
When considering your budget and strategic marketing strategy, there are a number of other variables and considerations that should come into play. The Internet innately offers major cost-cutting and highly effective marketing facilities that would not possibly have the same result in real-life. With the right combination of online marketing tools, your event will make history.
So, is it recommended that you incorporate social media advertising into your event’s marketing and promotional budget? The answer is yes even on a low promotional budget. If nothing else, it helps to validate your event and strengthen your brand if someone happens to Google your event or conduct a search within a social channel. It is advised that you make Instagram-Facebook your starting point. While some people may question Facebook’s significance to the younger demographic, the reality is
Facebook continues to maintain one of the largest online populations in the world. And contrary to the belief of many Millennial and Gen-Z professionals, Facebook caters to more than your mom and dad’s generation. Most of your friends and family still have Facebook pages. Facts.
Choosing the Performer(s)
Quite naturally, the performing artist or group you livestream plays one of the most significant roles in the number of virtual attendees you can expect to host for your online event. To achieve 7 to 8 figures in online ticket sales you want to seek out performers with sizeable social media followings. This number can be a little tricky because most people would naturally think if someone has 500K people following them for example, they should be able to sell at least half of those people tickets. Or if someone has a couple million followers, you should be able to sell no less than a million tickets. Unfortunately, this is a huge misconception.
Casual Followers. The majority of followers on Instagram and Facebook – the two largest social media platforms – are what I often refer to as “casual followers.” These are people who may enjoy their music and may even take a moment to check out a post. They may be general lovers of a specific genre of music. They click the follow or friend button because they are interested but not necessarily because they are diehard fans. Casual followers use the follow feature almost like a social bookmark or “post playlist” rather than because they are crazy about the performer. In fact, they may “follow” performers who they take issue with as easily as those they like simply to be able to keep up with what the other performer is doing. You find a great deal of this practice within lovers of the Hip Hop music genre. Whatever their reasoning, casual followers do not always “naturally” convert into ticket purchasers. But that also doesn’t mean they won’t buy a ticket either.
Sleepers. The number of followers plays a tremendous part with most performers, whether they are real fans or casual followers. But there are also “sleepers.” These are people who, based on their fan-following alone, may not appear to have the size following to warrant pursuing. But this can also be extremely misleading. Example: Legendary Outkast group member Andre 3000 has less than 500K Instagram followers (451K) but projections suggest if he offered a livestream performance, he would sell well over a million tickets even if offered at a premium. But Andre 3000 is clearly an anomaly. He would possibly outsell many newer performers with 10-, 20-, or 30-times Andre’s current following. But there’s a logical reason for this: The combination of his musical history, recording success, and general mystique makes him this type of prize performer. He clearly does not spend countless hours curating content to build a following. But neither did Prince. He simply has that rare magical allure that few performers possess.
The Best Bet. As a general rule in order to generate 7- to 8-figures, target performers with a following of no less than 3 million followers, fans, subscribers, or friends on any given social media platform. Until your platform establishes a greater following, be conservative with your projections. A performer with 3 million followers on Instagram for example could conservatively project, on average, 3 to 10 percent of their following to purchase online tickets based on the performer and the marketing efforts employed. MADDCity.Live’s average ticket price is between $10 and $15 dollars. So, on the low-end, even if a performer has an audience of 3% or approximately 100K, your event will gross more than a million dollars in ticket sales. I’ll get into the amazing net return that you can expect later.
WARNING: The amount of revenue, both gross and net, that you can expect is unprecedented. But as you plan, be certain to expect the unexpected (unless you limit the number of tickets that can be sold or set an expiration date for ticket sales). Example: On September 21 of this year, multi-platinum performing artist Danileigh performed on the MADDCity.Live virtual stage. Danileigh has 2.9M followers on Instagram (IG @iamdanileigh). Conservative projections suggested audience attendance would fall between 100K and 250K. Danileigh garnered more than 800K server requests or 4 times the projections for a single-night’s livestream performance. Again, this is not an exact science but the more shows that you offer, the larger your database. As your database grows, ticket sales will naturally increase.
This is only the beginning. There are quite a few other factors and steps that you will want to consider and take before promoting an online, pay-to-view concert event. Stay tuned for what follows.
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N. D. “Indy” Brennan is the live event coordinator and senior digital marketing executive for MADDCity.Live. His experience with live event performance streaming dates back to the late 1990s. For more information from N. D. “Indy” Brennan or to assist with your next livestream concert event, send your emails to ndbrennan@maddcity.live. Follow him on IG @thesocialmediamillionaire or @ndbrennanauthor.
