Livestreaming has never been more prominent than it is now as artists and venues try and plug that massive hole left by the cancellation of shows, tours, festivals and clubs. Now there’s some consolidation afoot in this area: a company called eResonate Media is buying another livestreaming startup called Livit Media.
The companies have been working together since last year on creating a platform to stream performances live from a network of more than 10k music venues, and Livit has worked with events including the Wimbledon tennis tournament, the US Open golf tournament, and SXSW.
Together, the companies will now be pressing on with their efforts to help independent music venues generate revenues amid the Covid-19 lockdown. “Small live-music venue owners feel unsure about reopening to the public, while wondering if they can remain economically viable,” said CEO Michael Gisser. “eResonate offers venues and musicians a new way to monetise live music performances to either augment or replace their reliance on beverage sales as a primary source of revenue.”
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