Today, the Russia Market of entertainment knows an important potential of growth.
The country counts more than 3500 halls and theatres, 2700 artists and a profit of around 530 millions euros from the tickets sales. Belonging to Intermédia, a Russian citizen spends on average around 300 euros per year for the culture and entertainment. Which means that the market represents a business of over 42,5 billions euros per year, that is synonym to a healthy market.
Different types of entertainment, as dance ballet, cinema, music concerts, theatre, conferences or sport games, share the business.
The main one is the cinema, follows after by the concerts, which represent approximately 500 millions euros of profit per year. The biggest part of the benefits providing from concerts in the 2 major cities: Moscow, which represents around 35 % and St Petersburg 15%.
Moreover, classical music concerts and theatres represent almost 25% of the entertainment market.
The market is growing but also facing some limits which slow down its raise.
Entertainment events costs are more and more higher today due mainly to the rise of the demand. The development of the technology, the evolution of the generations and the diversification of the entertainment offer can explain this one.
More than the ticket price, attending an event often means cost of transport to reach the place, cost of the food and beverages on the site, sometimes hotel to stay the day before or after. So a concert or a sport game can quickly become really expensive and likely to an investment. As the average purchasing power per habitant is not so high in Russia, it can be a drag at the consumption on the market.
Moreover, the halls and theatres welcoming events are really often of small sizes and represent a very limited number of places. As the demand is quite high and the events know a lot of success, they are usually sold out in a really short period of time. The situation can create frustration on the population who can’t have access to the event due to a logistic restriction. The quality of the halls and theatres is also really often bad and can’t not offer a worth experience to the customers, who want to pay for a real spectacle.
More and more, the market is becoming a business at the expanse of the artists. Indeed, they need to support more intensive rhythms of production, with more constraints and being less paid. The art is sometimes put after the money generated by this market.
All these findings bring us to have a reflection on how can we improve the market by reducing the limits and make them being solutions. That’s how the idea of Virtual Reality Show appeared in our mind. The idea is to create a company based on the concept of the Virtual Reality, which would be able to broadcast events like concerts, theatre, sport games, conferences…
We want to offer to the customer the possibility to watch on live and replay all its favourite events on an on-demand video platform at a very attractive price.
Our goal is to democratize the virtual reality and turn it into a common technology.
By this new technology, we want to be beneficial for both customers and artists.
Firstly, we would like to offer a revolution way of attending entertainment events to the customer. The idea is to make the process really easier for the customers by removing all the drawbacks. Indeed, with this new technology, he would be able to enjoy more events at a lower price, and everything when and where he decides. A Russian football fan can now follow all the international competitions as if he were in the stadium all in staying at home. The customer could also choice to live the event alone or to share it with relatives. The virtual reality show could offer to the customer a real immersive experience making him the impression to be here and will obviously raise his satisfaction.
This new technology can also have great impacts on the artists’ career. By render the events accessible to a larger population, the artists can benefit from a more national or international renowned and visibility nearby his public. Moreover, the concept will resolve the problem of the limited places during the events and can win more money, which will be directly given to the artists.
At this start of the analysis, we truly think that our concept can find a success on the Russian market and can answer to a specific need on the entertainment market.