By Gary J. Nix
- Roblox and Sony Music Entertainment form partnership to bring artists into the metaverse
- Will this partnership affect Roblox’s $45 billion dollar valuation?
It is said that necessity is the mother of innovation, and creativity its father. 2020 illustrated this in many ways, namely a new type of collaboration between various recording artists and gaming companies where you would find their music in the game along with their visage. After Zara Larsson did her launch and dance parties on Roblox, an online game platform and game creation system, in May, the game turned up the heat with Lil Nas X. Roblox’s first virtual-live concert with the rapper brought 36 million people to the party, and Sony (SONY -0.02%) Music Entertainment wants more for its artists through its new deal with the gaming platform.
Why This Matters: The gaming industry has only found more success through new delivery systems built on ever-changing tech, and ever-connected networks. For example, in April, Travis Scott made plenty of noise with his virtual concert on Fortnite to the tune of 12.3 million people who watched the premiere, and this was only the beginning.
So, this type of collaboration between Sony and Roblox, a company valued at $45 billion, could infuse new revenue into record labels, an industry that has been struggling to survive in these recent times run by technology. Additionally, a convergence of popular and communal cultures guarantees a level of success that will benefit everyone involved when done the right way.
Situational Awareness: With that being said, when dealing with the nexus of art, business and culture, it is essential to be intentional and respectful. Earlier this year, Roblox got in some hot water for profiting off of uploaded music, which resulted in a settlement deal with BMG.
However, this deal with Sony Music Entertainment includes a license covering players using Sony music in the game. This opens the door for new artist experiences in the game as well. Imagine Roblox and J. Lo, or Beyblox with Beyoncé! What kind of numbers would that do?
CBx Vibe: “Montero (Call Me By Your Name)” Lil Nas X