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Contxto – It’s no secret that the entertainment industry has been in the can lately thanks to the coronavirus outbreak. What’s more, research firm Ampere estimates that coronavirus will cost the global entertainment industry around US$160 billion over the next five years. But when times get tough, the tough get going.
One prime example is digital media startup, Boletia. The Mexican-Peruvian enterprise has been busy developing a new platform, raising an investment round, and partaking in what’s becoming the ‘new normal’ in entertainment.
Boletia battles on
Prior to Covid-19, Boletia was mainly in the ticketing business for live entertainment. But concerts and sporting events with huge crowds don’t mix well with a highly contagious pathogen. So the startup had to pivot. In May, its new service, “NEERME,” was officially launched.
“We’ve shifted to offer our customers a way to host livestream events with paywalls and interactive tools,” explained Joshua Francia, co-Founder at Boletia over the phone. These new features included a chat system and surveys to add a more engaging component to the experience.
Moreover, since these platforms force artists to “step down” off the stage to interact with their fans, they’re building a new connection with them.
Since live streaming allows a single event to be shown in any part of the globe, Boletia wants to raise equity capital to scale its platform to more markets. Its primary targets are the Latino population in the United States as well as other Spanish-speaking countries.
Investment funds would also serve to improve its product’s interactive tools for a better customer experience.
The new normal in entertainment
But these adjustments are more than just a way of managing through the crisis. For the founder, they are part of how the entertainment industry is reinventing itself. Shows and other live spectacles will adopt a more permanently hybrid format: live shows and live streaming.
“We think it will be part of the new normal,” reflected Torres. “Furthermore it’s likely that interactive experiences like these become an alternative to chill at home. If you don’t feel like going out there’s an option.”
- Related article: Rappi launches into livestream business boosted by Colombian pop star Manuel Medrano
Pandemic or not, the show must go on for startups. And while it is hard to pinpoint what the ‘new normal’ will be like, what’s certain is that tech is connecting people in ways that are here to stay.
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