Warner Music Group Announces Groundbreaking Partnership With and Investment in Wave
Warner Music Group (WMG) has announced a partnership with Wave, a leader in virtual entertainment, to expand virtual performances and monetization opportunities for its artists. The collaboration will introduce innovations in ticketing, sponsorship, and fan engagement. WMG aims to enhance the virtual experience for artists and fans across its labels. Wave's technology will transform artists into digital avatars for live performances, offering interactive features like live chats and virtual gifting. This partnership aligns with WMG's strategy to capitalize on the growing metaverse market.
- Partnership with Wave enhances virtual performance capabilities for WMG's artists.
- Innovative monetization strategies including new forms of ticketing and sponsorship.
- Collaboration expected to boost audience engagement through interactive features.
- None.
Wide-Ranging Collaboration Allows Wave to Expand Virtual Entertainment Experiences and Monetization Opportunities for WMG’s Roster of Artists
LOS ANGELES, May 03, 2021 (GLOBE NEWSWIRE) -- Warner Music Group (WMG) today announced a groundbreaking partnership with and investment in Wave, the leader in virtual entertainment. Through this collaboration, Wave will develop virtual performances, experiences, and monetization opportunities for WMG’s global roster of emerging and established artists. This includes new forms of ticketing, sponsorship, and in-show interactions for fans.
The agreement strengthens the relationship between Wave and the renowned music company as WMG continues to amplify virtual experiences for artists worldwide across its family of labels, including Atlantic, Elektra, Parlophone, Warner Records, and others. WMG’s entrepreneurial approach has borne partnerships with companies shaping the future of music – from popular interactive platform Roblox, to experimental virtual avatar company Spirit Bomb – enabling artists to power their creative visions and engage fans in new ways.
“WMG has an incredible history of being a trailblazer in the music industry. They share our vision for pulling the future forward using new technologies that benefit artists and fans alike,” said Adam Arrigo, CEO and Co-Founder of Wave. “We’re excited to partner with them to create interactive events that are unlike any other virtual concerts ever experienced.”
WMG and Wave will collaborate to bring Wave’s cutting-edge technology to transform participating artists into digital avatars, performing live and taking fans into an immersive virtual experience. Wave offers fans unique and interactive offerings including live chats, virtual gifting and voting, as well as real-time audience appearances during artist performances. Through Wave, WMG will be able to forge more powerful artist activations, incorporating new and fan-favorite features into their shows to fuel audience engagement.
“The commercial opportunity in the metaverse has exploded in the last several years, with the past few months seeing a tipping point for mainstream adoption of immersive social experiences and virtual communities,” said Oana Ruxandra, EVP, Business Development and Chief Digital Officer at WMG. “Wave is indisputably a leader in the interactive virtual entertainment space and the right partner to help us grow WMG’s efforts. Our artists and their fans will be getting best-in-class experiences, as we pioneer new forms of consumption and monetization.”
WMG joins a variety of artists, entrepreneurs, and venture capitalists investing in Wave. Justin Bieber, The Weeknd, Scooter Braun, J Balvin, Maveron, among others, participated in Wave’s most recent funding round. The company also announced its continued expansion into China through a strategic partnership with Tencent Music Entertainment.
Wave continues to strengthen its relationship with major and emerging artists, labels, and AAA gaming companies looking to engage with next generation audiences at the nexus of entertainment and gaming. To date, the company has hosted more than 50 Wave events for a number of popstars, DJs, and artists, including The Weeknd, John Legend, Dillon Francis, Alison Wonderland, Tinashe, and more, performing for millions of viewers around the world.
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About Warner Music Group
With a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters, and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG’s Recorded Music division includes renowned labels such as Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics and Warner Music Nashville. WMG’s music publishing arm, Warner Chappell Music, has a catalog of over 1 million copyrights spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick, the live music app; EMP, the merchandise e-tailer; and UPROXX, the youth culture destination. Follow WMG on Instagram, Twitter, LinkedIn, and Facebook.
Media Contact
Warner Music Group
Majeda Hussein
Majeda.Hussein@wmg.com
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