The Evolving Music Biz and Why Ustream is Worth a $75 Million Investment

You’ve heard the saying a picture is worth a thousand words, but to me this picture represents $75 million.  That’s how much Ustream, an online service that lets people broadcast live from their computers and phones, announced they were receiving in funding today.  They are one of a handful of live streaming platforms battling for the top spot in this hot category. So, why are services like this demanding so much money and attention?

On a recent road trip singers Lauren Zettler and Allison Weiss had to cancel a show due to bad weather (actually the venue canceled the show, not them).  However, instead of making fans wait for the show to be rescheduled, they gathered around their computer with a group of musicians and performed over the Web….live.  They sent out messages to fans and followers through their respective social networks, and with the power of Livestream, a Ustream competitor, they put on a concert.  And, they did this without a venue, without a promoter, etc…..you get the idea.

This was brilliant on so many levels and there have been numerous examples of celebrities, up and coming artists and others using this platform to share content.  For me this picture really captures the changing music business and the “real-time Web” in action.

Have you ever watched a show on Ustream, Livestream or a similar service?  Do you know anyone that has had success connecting with audiences in a similar way?

Pictured above from left to right: Cameron Mizell, Dannielle Owens-Reid, Kait Lawson, Allison Weiss and Lauren Zettler.