Scooter Braun, Superfly’s Rick Farman and Twitch’s Kevin Lin are among those to contribute to a US$30m investment in virtual concert start-up Wave
Sign up for IQ Index
The latest industry news to your inbox.
Jarred Kennedy, who headed up entertainment businesses and partnerships at Riot Games, joins avatar-based virtual concert company Wave as COO
By IQ on 21 Jul 2020
Wave, a Scooter-Braun backed virtual concert start-up, has announced that former Riot Games executive Jarred Kennedy is joining the team as chief operating officer.
Kennedy, who most recently served as global head of entertainment businesses and partnerships at Tencent-owned gaming giant Riot Games, will oversee core operations and expand the scale of digital concert experiences at Wave.
The former Riot Games executive will also work on establishing partnerships with artists, investing and innovating in interactivity and expanding the reach of Wave so that more people can experience the musical events.
“The founding team and a lot of the first folks to join Wave are all musicians, they understand the artists that they’re serving and they understand what it means to be fans,” Kennedy tells The Hollywood Reporter.
“They’ve built their company and their culture around that, and so there’s a lot of trust between the creative community and Wave.”
“I believe in where technology is taking these interactive experiences and I also believe in the power of technology to enable really emotional and personal experiences”
Wave, which transforms artists into digital avatars in real-time, casting them onto stages in customised virtual worlds, recently received $30 million in funding from investors including Superfly co-founder Rick Farman, Twitch co-founder Kevin Lin and Justin Bieber manager Braun.
Kennedy says that he can see virtual concerts garnering popularity in a similar way to esports, as “[there is] the potential to create experiences that are both more interactive but also more immersive through virtualisation, [which] I think could be very powerful for what happens and what music performance becomes.
“I believe in where technology is taking these interactive experiences and I also believe in the power of technology to enable really emotional and personal experiences.”
“Wave is growing exponentially thanks to an incredible team of investors, partners and employees committed to our mission,” comments Wave CEO Adam Arrigo.
“Jarred’s wealth of knowledge in the industry, as well as understanding on how to build initiatives that tap into the core of digitally-forward culture, will allow Wave to better serve today’s digital avatar generation and increase our core technology and gaming capabilities.”
Wave concerts are distributed for free on major platforms including Twitch, YouTube, Facebook and Twitter, and have featured artists such as John Legend and Imogen Heap.
Read more about the intersection between live music and gaming here.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.