Wave: Justin Beiber, The Weeknd Invest In Animated Concert-Streaming Company
Almost right after the Weeknd streamed his first animated show,…
Almost right after the Weeknd streamed his first animated show, he decided to invest in animated concert-streaming company Wave, Rolling Stone reports.
“The Weeknd Experience” was a show that was aired on TikTok on the 7th of August and drew in two million viewers, leading to $350,000 in charitable merchandise sales, according to TikTok. The company says that they were in talks with the R&B superstar regarding an investment “but doing the actual show and seeing what our platform can do and the impact it can have is what sealed the deal,” says Wave’s CEO Adam Arrigo to RS.
According to Wave, Justin Bieber, J Balvin, Jillionaire, and indie label, Top Dawg Entertainment has also come on board as investors.“It’s really just about making the right decisions, getting the right people on board, and building out our future,” Arrigo says. “It feels like the world is our oyster.”
“Building these experiences in third-party games allows us to leapfrog the challenge of user acquisition and convince the market and show them what a virtual concert is. We can go directly to where the users are, which allows us to build a business sooner,” Arrigo added. “Trying to recreate our own version of Roblox would take us a long time and ultimately is not what we’re best at, at least at the moment. What we can do is create mind-blowing experiences for artists.”