Almost non-existent before covid-19 crisis, virtual festivals have since become very popular as they allow audience to experience a show similar to what they have in real life with many different artists, from anywhere in the world
Virtual festivals not only mimicks the real life festivals, but they also bring many other benefits along the way.
Virtual festivals can not provide audience the communion of real festivals, but they are way better in other aspects
Ease of organization
In real life it's really difficult to organize a festival or even a night-long party with many artists. Scheduling, travelling, resting time, everything can easily be a nightmare. No more trouble like that, a virtual festival can be performed from anywhere (bar, club, in the nature, home) and any artist can be in a different place. When real festivals require months of preparation, virtual festivals only require a few days to synchroniwe with artist, promote online.
By eliminating all hurdles from the organization, you also save on these costs. Basically, with someone already having gear, costs can be reduced up to zero. You only need HR and software to do the switch from one stream to another one on the broadcasting side (as it should be a continuous stream for viewers) and use existing free (eg: Twitch) or cheap (eg Mixcloud) for your festival. DJing provides such software to monitor all incoming streams, switch seamlessly between artists, either with manual action or automatic, scheduled one at a cost of only €1 per hour. Of course for-pay festivals can either integrate a ticketing solution or use DJing self-hosted solution to sell tickets and secure streams.
No third party for tickets
With your own ticketing solution, or DJing one, you can get payments to directly land on your bank account. No more commission, no more trouble in managing ticketing at the entrance of an event.