If you aren’t making money from selling albums, why not put more emphasis on live concerts?
According to Inside Facebook, David Gray and Widespread Panic have partnered with venue companies (Gray with European Telecom 02 and Panic with Milyoni’s Social Theater) in an attempt to drive more revenues from live shows through Facebook apps. Using Facebook’s pay-for-credit system, Facebook users must offer up 50 credits (equivalent to $5) to watch Widespread Panic or David Gray live from their laptop.
Will virtual currency pan out for music and will music fans shell out $5 for a live feed of a concert? You be the judge.