In this episode, we discuss all the ways entertainment may change or has already, in the Metaverse. We talk about how these opportunities are not just for the big players but also how small brands can create success in this area.

MENTIONED IN THIS WEBSITE
Wisher Vodka – https://wishervodka.com/
Metaverse Fashion Week 2023 – https://mvfw.org/
Canva Create – https://www.canva.com/canva-create/
Decentraland Music Festival – https://decentraland.org/blog/announcements/looking-back-at-decentraland-metaverse-music-festival-2022/

PEOPLE MENTIONED IN THIS EPISODE
Cathy Hackl – https://twitter.com/CathyHackl
City Xtra – https://www.youtube.com/@CityXtra

We hope you enjoyed the show and that it inspired some ideas. Join us next week to delve further into the Metaverse

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IMPORTANT NOTICE
This podcast is for entertainment and education purposes only. We do not give any investment or financial advice and we strongly recommend you always DO YOUR OWN RESEARCH.

Show Transcript

[00:00:00] Cheryl: Welcome to Women of the Metaverse. I am Cheryl Laidlaw

[00:00:07] Angela: I am Angela Harkness. We have been and are still on a journey to discover the Metaverse with 3.0 NFTs and anything that we are required to know to join this world 

[00:00:20] Cheryl: from. From this podcast, we will help you to unlock how the metaverse is going to impact your brand.

[00:00:27] Cheryl: Your business and even your personal life. 

[00:00:30] Angela: Join us as we take the mystery out of this new digital universe. Welcome to Women of the Metaverse. In this episode, we are talking about the future of entertainment in the Metaverse. We have already talked about certain events in many of our episodes that are already taking place in the meta.

[00:00:52] Angela: For example, one of our favorites and a champion for startups is Wish of vodka who held cocktail parties at their [00:01:00] distillery Inland Metaverse Fashion Week. The second event happened in March, 2023 because the first one held in 2021 was such a success. Some may think that entertainment and Metaverse is something for the future, but if you have listened to any of our previous episodes or done any research yourself, then you will.

[00:01:22] Angela: That is actually an industry that is growing and will change the way we create events or attend events now and going forward. I wanted to say cuz Canva have literally just held their Canva create event. It was a massive event in Australia and you could, it streamed live. But when I first got the invitation through, I thought, oh, this would be amazing if you could do this via the Metaverse.

[00:01:47] Angela: Yeah, maybe. Maybe another year they might do. I’m sure they will. Yeah. Cuz it was a massive, they cause 

[00:01:53] Cheryl: they’re really leading the way in AI 

[00:01:56] Angela: actually. Yeah. Yeah. So maybe next year they might, they [00:02:00] might start to do that. So what are these metaverses events starting to creep in? Cheryl? 

[00:02:06] Cheryl: So the obvious one is concerts.

[00:02:09] Cheryl: Already there have been a number of artists that have ventured into this field of virtual con, uh, concerts, including Foo Fighters on Meta, Justin Bieber on Wave, which is a virtual music platform, and Ariana Grande on Fortnite. In fact, it’s becoming such a popular event that the, uh, the VMAs introduced a new category.

[00:02:33] Cheryl: For best Metaverse concert carrying on with the music theme, a number of festivals have introduced the ability to attend in vr, including Gery and Coachella, but also platforms are creating their own festivals in 2022 to Central Land, held a four day music event. You didn’t need a ticket. You didn’t even need a [00:03:00] VR headset.

[00:03:01] Cheryl: There were over 200 artists and 15 stages. The advances to this are incredible because you can get that live concert experience without having to fight with the traffic and standing in a long queue. If you love live events, you may still attend, but you may have to be selective to which events you attend.

[00:03:25] Cheryl: The experience of attending via VR headset may not feel the same, but as we’ve said before, it’s very immersive, and depending on your generation, it may be something you become used to or even enjoy. What do you think, Angela? 

[00:03:42] Angela: Well, we talked about this before. I think we may have mentioned it in another episode.

[00:03:45] Angela: Kathy Hackle was talking about her. Going to a concert. It may have been that Ariana Grande one, it was one of the, like a popular artist, but he would tell you he went to this concert because for him [00:04:00] that’s how he went to attend. So I think for us, we’re so used to, you know, standing in a stadium or, you know, concert hall, but, but I think generations coming, that will just be another way they attend something.

[00:04:15] Angela: So I. It’s a brilliant way to maybe enable, cuz you love a live concert, don’t you? You love going to music. No, I don’t actually. Do you not? I thought you did just, you enjoy. Yeah. Now I get 

[00:04:28] Cheryl: dragged along. Do you? But I must admit, I hate waiting for the artist. Yes. Which say they’re gonna come on at nine and they never do.

[00:04:36] Cheryl: And then everyone has to run for the train home. 

[00:04:39] Angela: I sound like. Yeah. I think if you live somewhere, And I think we go on to talk about this, where it’s such an effort. Like I live in the middle of nowhere, so to go to a concert, you are talking three hours to get there, the concert, and then three hours to get back.

[00:04:56] Angela: Plus, they’re really expensive. We sound like old people, don’t 

[00:04:59] Cheryl: [00:05:00] we? I know we do. We really do. But I read this week on, I don’t know, Facebook, TikTok, I don’t know. Somewhere that said someone again, someone famous was complaining. Why don’t they do concerts at two o’clock in the afternoon? Yeah, what does it happen to 

[00:05:15] Angela: me at seven, eight o’clock at night?

[00:05:17] Angela: Yeah. Yeah. Anyway, I dunno. Anyway, we’re talking like old people, but the point is that actually if you start attending via the metaverse via vr, then it may feel like a real experience and you may, you know, get to attend more. 

[00:05:35] Cheryl: The advantage of this technology from a business sense is that it opens up the whole world.

[00:05:42] Cheryl: Touring is incredibly expensive for a band. There is a huge amount to it. Some bands have been very successful with their tools, but ticket prices have become astronomical. To sell tickets to enable people to attend via the metaverse. Maybe something that bands can think about [00:06:00] because it could open up the door for a lot more people to attend, and at the same time, even out the ticket pricing for those that attend in person.

[00:06:10] Cheryl: Another way it can be done is using AI avatars. The ABO voyage tour is a perfect example of this. The whole concept was done using avatars. They didn’t even leave Sweden, which is absolutely genius. If you are a really popular band, but don’t want to go out on tour again because it’s just too much, then this is probably the most innovative way of doing 

[00:06:40] Angela: it.

[00:06:41] Angela: I just, when I was, you know, researching this and think about this, that’s just genius. Just to stand in a room and record your concert and then just whilst everybody else is attending and paying a fortune, you’re just sat at home. You only have to do the concert once. And I 

[00:06:59] Cheryl: know [00:07:00] so many people that went to that ABA concert and they loved it, thought it was incredible.

[00:07:04] Cheryl: They said it was amazing. But again, it was the first, they were the first people 

[00:07:08] Angela: to do it. Yeah, it’s I, I just thought, oh my God, that’s just genius. What else is there, Cheryl? Then what else can you do at, 

[00:07:20] Cheryl: so we’ve got theme parks. Theme parks are probably one of the first ways that you have started to be aware of VR headsets.

[00:07:28] Cheryl: If you are not a gamer, you’ll have seen videos of people riding a virtual rollercoaster. Well, Ian, Angela, can’t, we can’t we both our headsets and tried it 

[00:07:39] Angela: and we both rust. I was, yeah. 10 seconds in. I was, I can’t do this. I can’t do, it was, it was so real, that kind of feeling you get in your stomach. Uh, I was like, no, I’m done with this.

[00:07:52] Cheryl: Web three technology gives theme parks, the ability to go next level in terms of creativity and give an added experie. [00:08:00] With their rides. Butch Gardens, a theme park in America created Battle of Ear. Collaborating with Dream Set, they developed a VR headset. So over 1000 people an hour are able to have an absolutely incredible VR experience, which gives a whole new exposure to a theme park ride.

[00:08:23] Cheryl: Well, Disney and Universal Studios are also getting in on the act by introducing Mario carts and Star Wars Galactic Star Cruiser. And again, over time it will become a combination of attending the theme parks virtually and be enabled to attend via your sofa. So I dunno if you’ve seen this week in the news that new Disney robot, 

[00:08:49] Angela: I haven’t seen it.

[00:08:50] Angela: What does it. 

[00:08:51] Cheryl: Well, I’m not sure if it’s gonna just walk around the theme park. Uh, it, I mean, it’s, it’s the size of a child, [00:09:00] so again, I dunno if it’s gonna be giving out great information or it’s just gonna be part of a movie in the future. 

[00:09:07] Angela: Yeah, they’re quite smart for doing that. Slowly introducing something that you don’t really know.

[00:09:13] Angela: That is anything to do with, 

[00:09:15] Cheryl: but then well eventually they’ll just replace all their staff. But these little mini robots, maybe 

[00:09:22] Angela: they’re taking over. 

[00:09:23] Cheryl: Yeah. 

[00:09:24] Angela: Literally. I mean, is it, it’s a good way, it’s a good way to introduce children to that sort of thing though, isn’t it? I think. Yeah. Yes. And 

[00:09:31] Cheryl: having them small, so they’re not intimidating.

[00:09:33] Cheryl: They look, yeah, it looks quite cute. See? Yeah. Give it a little Google. Um, the Disney, the Disney robot and see, uh, see what comes up. It’s rather, it’s rather cute. So we could go down a whole list of areas for entertainment that you can experience now, or will be able to in the future. Via the Metaverse, it opens up a whole new revenue stream for businesses, particularly those that might have suffered or are still suffering [00:10:00] as a result of the pandemic.

[00:10:02] Cheryl: They will be able to create events globally without people having to even leave their sofas. We talked in a recent episode about the Australian. They recovered from a loss of low attendance from the pandemic by creating it in decentral land. Bloody genius. Yeah. Cinemas and theaters will be able to create immersive experiences.

[00:10:26] Cheryl: Again, without you having to leave and leave your home. For introverts like Angela, yes, it’s a game changer, but also it means, especially if the ticket prices are less, it gives you the opportunity to attend more. You may book to do something that you wouldn’t normally do, and also can you imagine saying to you, mate, let’s go to the cinema, and they’re like, oh, I haven’t got a car at the moment.

[00:10:50] Cheryl: Is that us? Okay, we’ll just, we’ll just put it on the VR. 

[00:10:54] Angela: Yes, I was thinking that myself, cuz you could go to the cinema with a friend but not actually even be in the same [00:11:00] room with them, can’t you? Yeah, that would be cool cuz I hate going to the cinema. People drive me nuts in, is it all the noise 

[00:11:07] Cheryl: with the crunching?

[00:11:08] Cheryl: It’s 

[00:11:08] Angela: the noise with the crunching and the chat, chat, chat and 

[00:11:13] Cheryl: no. Well, this eliminates all of that for you, 

[00:11:15] Angela: Angela. It does. I used to live somewhere where there was a cinema at the top of the road and I used to go to see films at about 10 o’clock in the morning. Because nobody else was in this cinema.

[00:11:27] Angela: You’d be in there on your own. I’d be in there on my own. 

[00:11:29] Cheryl: It’s a dream. This is a dream 

[00:11:30] Angela: for you. It’s a dream. Honestly, I would attend so much more by a VR because not long. Won’t be long. It’s so teaser. Yeah. So what else do you think, Angela? One of the ones that stands out to me is sporting events. They are so expensive to attend and depending on what sport you are interested in, they happen often.

[00:11:50] Angela: So football for example, could be two, three times a week. If you aren’t able to attend live, you are very much at the moment under the [00:12:00] control of the TV rights. So adverts and interruptions can ruin your watching experience. Also, then, whatever sport, it’s not necessarily always on television. It is another industry that could open up a whole new revenue stream by enabling people to attend games through the metaverse on a regular basis.

[00:12:21] Angela: Tennis as with the Australian Ocean, we talked about athletics, football, basketball, and cricket to name a. But it does not just need to be the biggest sports in the world. Maybe some of the less popular sports that fight for recognition may be able to grow due to attendance in the metaverse. Again, the experience is so much more immersive than watching on tv.

[00:12:45] Angela: Also, it may be an opportunity for women’s teams to grow in these big sports, all the ones that I mentioned where they currently don’t match in terms of revenue. Generat. Just to make sure you know the title of this episode is The Metaverse [00:13:00] and the Future of Entertainment, but Entertainment is very subjective.

[00:13:03] Angela: What Sharon and I like and enjoy attending, like for example, the Canberra event or other business events is like entertainment to us, but definitely other people would not see it that way. There are so many ideas for events and how small businesses is youth and meta. But I’m gonna keep it to those that are really set up for entertainment purposes.

[00:13:25] Angela: I think the Metaverse is a great place for people to put a foot in the door of an industry that is difficult to get into. For example, comedians. I have such admiration for comedians. The route to becoming successful is brutal. You could set up a comedy club or you could livestream via Metaverse your own comedy.

[00:13:45] Angela: The same with music. Platforms like YouTube have been incredible for musicians to launch their careers, and the Metaverse could be the next step to creating an even greater experience for the audience, but also a wider reach for your [00:14:00] music. Also, the other area that is brand new is actually Metaverse Entertainment.

[00:14:07] Angela: So you could create a band from Avatars or N F T characters, or you could be an avatar comedian. If you create your own TV studio and have an avatar, as a panel, you create, could create metaverse tv. The more things that move into the metaverse, the more opportunities to create the Metaverse. So it’s not just about watching real world entertainment, but also about creating entertainment about Metaverse events.

[00:14:36] Angela: So I’ve taught, for example, about YouTube channels that report on sport teams like city. But when sports events start happening in the metaverse, then those channels can also move into the metaverse and gr grow events, like pubs, like wisher, you can hold quizzes, parties, and live entertainment. I, I could go on and on with these [00:15:00] ideas.

[00:15:00] Angela: But one of the things that kind of came to me was how important avatars are gonna become to us, don’t you 

[00:15:05] Cheryl: think? Yeah, massively. I think we’re gonna do a whole episode on avatars 

[00:15:08] Angela: alone. Yes. The more I think about it, because when I first started researching this episode, I was coming at it from the perspective of human to human.

[00:15:18] Angela: Like how could you stream it out to humans? And then the more I started thinking about the avatars, I was thinking the next generations, I think avatars are gonna become really important to people. Whether we like it or not, and I think there’s a huge market around that in regards to entertainment. I agree.

[00:15:37] Angela: And 

[00:15:37] Cheryl: actually us talking about concerts and, um, sport sporting events and being there and watching it through the VR set. We always, well, when you think about you attending via vr. You think about it as you being in the crowd, but actually what the metaverse enables us to do is to be able to [00:16:00] walk around the stage Yes.

[00:16:03] Cheryl: And they, and, and dance with, I don’t know, whoever it might be, and Taylor Swift or, you know 

[00:16:09] Angela: Yeah. Changes the experience. Yes. Yeah. So if you did 

[00:16:12] Cheryl: wanna have a, a, you know, feel like you are on stage, Whoever you are gonna see it. Again, there’s no limitations. It’s not a case that throwing on a headset and then just watching it from the typical.

[00:16:27] Angela: That is so true. Chair I attended, it was, it was, again, it was a conference. Um, I can’t even, it was about, probably about the metaverse year, but one of the things that it en they enabled the avatars to do was to fly. So you could, you could stand on the forecourt and watch. Big screen. Brilliant. That was showing the conference, or there were controls that would enable you to elevate so you could watch it from a different angle.

[00:16:54] Angela: So you are so true with that. The experience can be so different because you could maybe [00:17:00] watch it in a way. You would never, that enabled you to get closer. Yeah. That would, you would never get to do if you went to, and that would enable 

[00:17:07] Cheryl: constant, that would enable the ticket prices to be different depending on if you could fly or be on the stage.

[00:17:12] Cheryl: Yes. Or dance with Taylor. Like I, that 

[00:17:15] Angela: is, I’m just such a good idea. Oh my God, I’m making a business here. 

[00:17:21] Cheryl: But it’s there. It’s only a matter of time. We said it here, here first. 

[00:17:24] Angela: We did. We did 

[00:17:26] Cheryl: absolutely. What we wanted to get across in this episode is that it’s about being creative and taking that step.

[00:17:35] Cheryl: You may want to open your own pub or comedy club like Angela said, or you may want to put on a live music event, but you simply can’t afford all that goes into the physical venue at this stage. But maybe an option would be to buy some land and create a venue and put on your own event. Create that comedy club, have that nightclub, open a pub design and start a TV [00:18:00] studio and put out your own programs, or create new Metaverse sports and stream it all via the metaverse, create entertainment avatars.

[00:18:10] Cheryl: That in itself is going to become a massive industry. So over the next DEC decade, we are going to see a massive change in entertainment events and it will reach people on a global level creating incredible streams of income for those that take the chance. It does not have to be big players like Disney or Universal Studios.

[00:18:33] Cheryl: You can start now. The platforms and the technology are out there for you to take the next steps. So we hope you’ve enjoyed this episode and we hope that you join us next week as we continue our journey into the Metaverse. Bye for now. 

[00:18:47] Angela: Bye.

[00:18:51] Angela: Thank you for listening to this episode of Women of the Metaverse. 

[00:18:55] Cheryl: You can find all information, links and people we talked about in the show [00:19:00] notes on our website. If you have 

[00:19:02] Angela: enjoyed this podcast, please comment and subscribe. 

[00:19:06] Cheryl: Join us again in the next episode as we continue this exciting metaverse journey.