- [Narrator] K-pop band SHINee is about to perform live
for more than a hundred thousand fans.
- [SHINee Members] (speaking Korean)
- [Narrator] But none of them are here in person.
So, fans have paid about $40 each
to watch the spectacle from home.
That's because during the pandemic,
K-pop is taking livestream concerts to the next level
by blending real and virtual worlds together.
Globally, many artists have been livestreaming performances
for free on platforms like Fortnite or Instagram.
- [SHINee Members] Hi, we are SHINee.
- [Narrator] But K-pop bands are convincing fans to pay,
especially after global revenue from concerts last year
dropped by 70% when coronavirus restrictions
brought music tours to a halt.
- (speaking Korean)
- [Narrator] We went behind the scenes
of SHINee's online concert
to see how these extravagant livestreams
can be a lucrative way to help reboot the concert industry.
These online concerts are called Beyond LIVE.
The concept was launched by the K-pop label SM Entertainment
as the coronavirus swept across the US and Europe
around April of last year.
- (speaking Korean)
- [Narrator] Kim Sung-Hak's company, Dream Maker,
creates stage designs using immersive technologies
to enhance visual effects in online concerts.
He says the idea is to deliver a show
that will be impossible to pull off
at a live, offline concert.
- (speaking Korean)
- [Narrator] This is the first Beyond LIVE performance
for SHINee, and it's taken them some time getting used to.
- (speaking Korean)
- [Narrator] In the past year, Dream Maker has produced
11 livestream shows for other K-pop bands,
including Super M and Twice.
Kim says his team tries to recreate
the feeling of togetherness, and for some bands,
FaceTime is a new part of the concert experience.
- (speaking Korean)
- The last time I saw them in person was 2017
when they came for the SHINee World V tour.
So the most exciting thing was just seeing them,
to be honest.
- [Narrator] Jenny Plyler is a SHINee fan
who lives in the US.
She says while she prefers physically attending
a live concert, she's happy to see her favorite band online
if that's the only possible way.
- Sometimes the concert just doesn't come to your country
for whatever reason,
like their schedules don't line up.
(music beats)
- The unique thing that is differentiating
the K-pop movement in relation to what others are doing.
It's a fan first approach, which is really good.
I think it's a great approach for music.
- Mike Schabel is a concert industry analyst in the US
and he says Western artists can learn
from K-pop's approach to these online shows.
- It's the art in helping the audience
feel like their contribution matters.
You know, their cheering matters.
They feel like they're part of an event.
And that creates this great dynamic and value.
- [SHINee Members] (speaking Korean)
- (speaking Korean)
- [Narrator] Lee Sung-Su is the CEO
of K-pop label SM Entertainment.
He says his company had been working
on this new kind of fan experience since 2012,
but the pandemic kicked it into high gear.
- (speaking Korean)
- [Narrator] And this advanced concert
comes with new revenue opportunities
by selling cheaper tickets to a larger audience.
For example, SHINee's Beyond LIVE
is at least $20 cheaper than its in-person concerts,
but the show could fill the stadium eight times over.
Plus, Beyond LIVE sells merch for the online events,
like a stand for your smartphone to watch the show
or a fan light that syncs in real time during the concert.
Lee declined to disclose total profits
from SM's Beyond LIVE concerts,
but said that the venture has been economically viable.
Even the South Korean government is taking a page
from K-pop's online concerts.
In March, it announced plans to spend 17 million dollars
to create a virtual concert space
to help smaller entertainment agencies
and independent labels reach audiences online.
But going virtual doesn't mean
the pandemic isn't a concern.
The band and staff have to get their temperatures checks
and fill out a questionnaire before the concert.
And when the pandemic passes,
the band says it's looking forward to:
- [SHINee Members] (speaking Korean)