Warner Music Group Announces Groundbreaking Partnership With and Investment in Wave
May 03 2021 - 8:00AM
Warner Music Group (WMG) today announced a groundbreaking
partnership with and investment in Wave, the leader in virtual
entertainment. Through this collaboration, Wave will develop
virtual performances, experiences, and monetization opportunities
for WMG’s global roster of emerging and established artists. This
includes new forms of ticketing, sponsorship, and in-show
interactions for fans.
The agreement strengthens the relationship between Wave and the
renowned music company as WMG continues to amplify virtual
experiences for artists worldwide across its family of labels,
including Atlantic, Elektra, Parlophone, Warner Records, and
others. WMG’s entrepreneurial approach has borne partnerships with
companies shaping the future of music – from popular interactive
platform Roblox, to experimental virtual avatar company Spirit Bomb
– enabling artists to power their creative visions and engage fans
in new ways.
“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. “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. Through
Wave, WMG will be able to forge more powerful artist activations,
incorporating new and fan-favorite features into their shows to
fuel audience engagement.
“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, EVP, Business Development and
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 investing in Wave. Justin Bieber, The Weeknd, Scooter
Braun, J Balvin, Maveron, among others, participated in Wave’s most
recent funding round. The company also announced its continued
expansion into China through a strategic partnership with Tencent
Music Entertainment.
Wave continues to strengthen its relationship with major and
emerging artists, labels, and AAA gaming companies looking to
engage with next generation audiences at the nexus of entertainment
and gaming. To date, the company has hosted more than 50 Wave
events for a number of popstars, DJs, and artists, including The
Weeknd, John Legend, Dillon Francis, Alison Wonderland, Tinashe,
and more, performing for millions of viewers around the world.
Access accompanying image here.
About Warner Music GroupWith a legacy extending
back over 200 years, Warner Music Group (WMG) today brings together
artists, songwriters, and entrepreneurs that are moving
entertainment culture across the globe. Operating in more than 70
countries through a network of affiliates and licensees, WMG’s
Recorded Music division includes renowned labels such as Asylum,
Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled
by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire,
Spinnin’, Warner Records, Warner Classics and Warner Music
Nashville. WMG’s music publishing arm, Warner Chappell Music, has a
catalog of over 1 million copyrights spanning every musical genre,
from the standards of the Great American Songbook to the biggest
hits of the 21st century. Warner Music Group is also home to ADA,
the independent artist and label services company, as well as
consumer brands such as Songkick, the live music app; EMP, the
merchandise e-tailer; and UPROXX, the youth culture destination.
Follow WMG on Instagram, Twitter, LinkedIn, and Facebook.
Media Contact Warner Music Group Majeda
HusseinMajeda.Hussein@wmg.com
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