WMG Catches The Virtual Wave
• Warner Music Group (WMG) announced an investment in interactive virtual entertainment company Wave. Through this partnership, Wave will develop virtual performances, experiences, and monetization opportunities for WMG’s global artist roster, including new forms of ticketing, sponsorship, and in-show interactions for fans. “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 & 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.
“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 (left), EVP, Business Development & 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 who have invested in Wave — Justin Bieber, The Weeknd, Scooter Braun, J Balvin, Maveron, among others, participated in Wave’s most recent funding round. Wave also announced its continued expansion into China through a strategic partnership with Tencent Music Entertainment. To date, Wave has hosted more than 50 Wave events for a number of pop stars, DJs, and artists, including The Weeknd, John Legend, Dillon Francis, Alison Wonderland, Tinashe, and more.
