Introduction

The pandemic, the lockdown and the social distancing norms that followed left musicians and performing artists who relied on live performances staring at a sudden and indefinite loss of their main source of income. On the other side of the coin, scores of performing arts enthusiasts were deprived of live entertainment opportunities. Most live performance venues and event production companies, including lights, sound and visual effects rental companies were forced to explore alternate revenue opportunities to stay afloat. Many artists and production companies switched to online media to remain relevant, and found themselves on new ground, competing with global talent in a borderless arena.

Impact

Mainstream musicians and performing artists lost a significant chunk of their real earning potential from live performances, and found their most powerful means to stay engaged with fans restricted.

Freelance and session performers including traditional performing artists saw their income reducing significantly due to the absence of stage shows, corporate events, family functions, festivals and tourism.

Event management companies saw their business potential shrinking exponentially due to the continuing absence of large scale on-ground events.

Venues and equipment rental companies that invested in rapidly depreciating entertainment technology assets face closure or bankruptcy unless they are able to successfully redeploy their assets to generate revenue from alternate means.

Many brands that reached out effectively to their customers through sponsorship in the live entertainment space are left without a comparable medium or vehicle to stay engaged with their audience.

Intellectual property rights, their rightful exploitation and monetization have become even more complex in the online marketplace, often limiting the ability of many artists to claim any significant income, or at worse, to even perform.

Potential Solutions

Several online streaming platforms that host live entertainment have surfaced, however many struggle to deliver a truly engaging audience experience, especially as a 2-way, socially interactive medium. However, there might be some opportunities for branding and sponsorship within these platforms.

Apps that function as live entertainment aggregators or marketplaces are rolling out. However there is very limited visibility on real earning potential from these in the near future, especially for artists. Challenges similar to the online streaming platforms exist.

Augmented Reality (AR), Virtual Reality (VR) and Extended Reality (XR) solutions that provide immersive live entertainment experiences are in the works. This is also encouraging for high-tech live entertainment production companies since they could transform their expertise and equipment to serve the needs of immersive content delivery. With the global rollout of 5g, there is a significant upside potential for this approach in live entertainment. However this is at a very nascent stage.

WHAT PARTICIPANTS ARE EXPECTED TO DO?

Propose a solution in the form of a “startup idea” to take advantage of the vast potential for online live entertainment, by providing solutions that serve the artists, production companies, sponsors and consumers (fans) well and help grow the related economies.

The participants may also choose to assume the role of an “Artist”, “Event Producer/Promoter” or a “Sponsoring Brand” and present a set of feature requirements that form the design input for developing an immersive virtual live entertainment solution that will help regain audience in a sustainable manner.

CHALLENGE RULES

  • 01 Students, who are studying in 11th and 12th grades, may participate individually or as a team of up to 4 members.
  • 02 Students from each team must hail from the same school.
  • 03 Register yourself/your team for the Challenge on the Vijaybhoomi website.
  • 04 Log In to Submit your Solution on https://discovery.vijaybhoomi.edu.in/login.php by Tuesday, 27 April 2021.
    - The file uploaded should be in PPT converted to PDF format only, maximum 15 slides
    - File size should be maximum 5 MB
    - Please name the file as: ‘Stubble_Team Name/Individual Name’
  • 05 Shortlisted teams will be intimated by Friday, 07 May 2021
  • 06 Present your solution in 10 minutes (if selected) using submitted document on 08th May 2021. Zoom link will be sent to you on the email ID provided in the registration form.
  • 07 The winner will be announced on Saturday, 08 May 2021.

Discovery Challenge Timelines

Registration opens on: Tuesday, April 06, 2021
Closure of Registrations and Last date for submission of proposals: Tuesday, April 27, 2021
Final Round of Presentation of Shortlisted solutions : Saturday, May 08, 2021

Awards and Prizes

All students taking part in this Challenge will be awarded a participation certificate and winners stand a chance to win cash prizes upto Rs.50,000 and scholarships.
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Submit Your Solution

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