The Success of Hybrid Events in K-pop
Like Jay-Z creating The Blueprint as one of the best rap albums of all time, K-pop has long held the blueprint for success within a world where digital fans want to engage with their favorite artists more than once or twice a year. Through interactive digital livestreams, fans can enjoy their faves from the safety and comfort of their homes anywhere in the world. Artists are no longer limited by geography or the number of seats in a venue, unlocking a tremendous opportunity for teams to deliver the thrill of in-person events to the delight of fans worldwide.
For example, the global titans BTS have connected with fans through unique digital experiences over the past several years. Last year, they held Muster Sowoozoo–a two-day exclusive livestream event watched by 1.33 million paid viewers from 195 countries. Following the success of those events, BTS livestreamed their sold-out Permission to Dance concerts from Seoul to homes and movie theaters worldwide, grossing an additional $32.6 million.
What can we learn from BTS besides cool dance moves and being smooth like butter? That hybrid is the future of live events.
Improving the In-Person Experience With Hybrid Events
Continuing to diversify and enrich the connections fans have with artists has become easier than ever in this post-pandemic world. Thanks to innovations like Fan Experiences, artists can easily connect with fans anytime, anywhere, with the industry’s most comprehensive digital experiences. No longer confined to traditional tactics, artists are now empowered to meet fans in new ways that easily embed into their in-person strategies. From livestreams to VIP Meet & Greets, Mandolin provides a one-stop shop to not only know and understand your fans but also engage them on and offline.
An added benefit: all of this fan data can be piped directly into Fan Navigator, giving you the most up-to-date actionable insights into your fanbase so that you can continue delivering incredible hybrid experiences.
And it’s not just artists getting in on the action-festivals too have realized that digital experiences equal larger audiences, more revenue streams, and an increasing sense of community. For instance, the Tibet House US team turned to Mandolin to unlock unique VIP experiences and discover new revenue streams. The decision to go virtual resulted in a +300% increase in event attendance YoY in 2021 while decreasing production cost by almost 70%. Mandolin’s unique merchandising strategy allowed fans to support Tibet House US through the purchase of thematic cultural pieces, including show-exclusive merch, prayer beads, blessing scarfs and more. As a result, these bundles produced an average profit margin of 63%.
Ready to take your in-person event to the next level? Get in touch below, and we can amplify your next show or event.