WMG'S VIRTUAL WAVE

Warner Music Group will ride a growing Wave into virtual entertainment, partnering with and investing in the technology company. Through Wave, WMG will be able to forge more powerful artist activations to fuel audience engagement.

Wave will develop virtual performances, experiences and monetization opportunities for WMG’s global roster, with new forms of ticketing, sponsorship and in-show interactions among the areas being developed.

WMG and Wave will collaborate on transforming participating artists into digital avatars performing live and offer live chats, virtual gifting and voting, as well as real-time audience appearances during performances.

The company joins a spate of recent investors in Wave that includes Justin Bieber, The Weeknd and Scooter Braun. It has hosted more than 50 Wave events for pop stars and DJs, among them The Weeknd, John Legend and Tinashe.

“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.”

Adam Arrigo, CEO and Co-Founder of Wave, said WMG “shares our vision for pulling the future forward using new technologies that benefit artists and fans alike.”