UK's unit1 raises £15M to stage concerts with digital avatars of musicians
What's the deal? UK music tech startup unit1Dealroom has a profile for this one. Try Dealroom → has raised £15 million ($20 million) to stage concerts fronted by "hyper realistic" digital avatars of musicians. The round was led by Balderton Capital, with participation from venture firm MercuriDealroom has a profile for this one. Try Dealroom → and Irish music executive Paul McGuinnessDealroom has a profile for this one. Try Dealroom →, who managed U2 from the late 1970s until 2013.
What's the endgame? Founded last year by Barney Wragg, unit1 wants to recreate classic concerts using avatars of living artists who no longer tour and performances by dead musicians. For the latter, it blends archive footage with actors and musicians who look or play like the departed star.
The company aims to stage shows with real musicians playing live alongside digital performers. Audiences watch a high-definition LED screen combined with lights, sound, and props. "For the audience member in the room it is seamless between the digital and the physical room, immersing them," Wragg told the Guardian.
Why now? The music industry has long experimented with the format, from the 2012 hologram of the late rapper Tupac Shakur at Coachella to the 2022 launch of Abba VoyageDealroom has a profile for this one. Try Dealroom →, a virtual concert running in a purpose-built east London venue.
Unit1 wants to offer a cut-price version of Abba Voyage by giving artists, venues, and promoters a route to digital shows without a dedicated space. That setup means a show could in theory tour several countries at once.
Where the money goes: Unit1 will spend the funds on research and development, plus intellectual property and licensing deals with artists and their estates. It has tested the technology with Scottish singer-songwriter KT Tunstall, filmed in a London studio recreating a two-decade-old performance on Later… with Jools Holland .
What could go wrong? Some fans have voiced unease about digitally resurrecting dead musicians. Earlier this year, a plan for an AI-powered avatar of the late Black Sabbath frontman Ozzy Osbourne drew criticism as disrespectful. Wragg said the startup is mostly "dealing with family members of estates" and is "mindful that you do not want to be distasteful."
Wragg was tight-lipped on which concerts unit1 could recreate, though he has said he wished he could have seen Queen at Live Aid and Jimi Hendrix at Woodstock.
The signal: Backers such as Balderton, an early Spotify investor that has also funded music rights firm KobaltDealroom has a profile for this one. Try Dealroom →, are betting that avatar concerts can move beyond one-off spectacles into a scalable, tourable business model.
Read more: uk.news.yahoo.com
Image credit: Photo Cindy
