By Emmanuel Legrand
Warner Music Group has sealed a partnership with and invested in virtual entertainment company Wave. The amount invested by WMG was not disclosed.
Through this collaboration, Wave will develop for WMG’s global roster of emerging and established artists "virtual performances, experiences, and monetisation opportunities", including new forms of ticketing, sponsorship, and in-show interactions for fans. WMG said the partnership with Wave echoes other similar agreement with "companies shaping the future of music" such as interactive platform Roblox, or experimental virtual avatar company Spirit Bomb.
“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.
Best-in-class experiences
Oana Ruxandra, EVP, Business Development and Chief Digital Officer at WMG, added. “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 monetisation.”
Other investors in Wave include Justin Bieber, The Weeknd, Scooter Braun, J Balvin, Maveron, among others. The company recently signed a strategic partnership with Tencent Music Entertainment covering China.
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