Coronavirus has brought the theater and concert business to its knees. Until there’s a vaccine in place, it’s unclear when people will feel safe returning to Broadway and other live events. That means that many venues and performers face the prospect of months without any income.
Stellar, a new live-streaming service, could provide a lifeline. Now in its beta phase, the system allows producers and artists to sell real tickets to online events, stream to a global audience, and manage payments. Jim McCarthy (pictured above), Stellar’s co-founder, thinks that live-streaming won’t just help theaters weather the current crisis. It could be a boon to their bottom lines even after COVID-19 is no longer a crisis. He sees it as analogous to what the Metropolitan Opera has done by showing filmed versions of its productions in movie theaters, a move that added to its revenues.
“We’re in a crisis,” McCarthy said.