Dance is a conversation. Thanks to the recent upticks in virtual events, geographically isolated groups of strangers are moving in the same direction to the same rhythm without speaking a word.

In 2020, the COVID-19 epidemic dealt serious damage to the global economy. Consumer spending in the performing arts business fell by billions. The dancing world halted when the pandemic broke out in March 2020.

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The evolving dance economy

After a rough period of economic stagnation in the United States, in early 2021 — the dance profession revived in ways that astonished many in the field. The market size measured by revenue, of the Dance Industry, stood to be $3.7bn in 2021.

This expansion demonstrated dance's resiliency, adaptability, and significance in even the most toilsome circumstances. These dance studio industry stats show tremendous opportunities for growth, giving rise to what we call —

"A creators economy", a future allowing the creators to work and earn independently.

Despite the fact that the creative economy is barely a decade old, more than 50 million people throughout the world consider themselves to be creators. It's the fastest-growing sort of small company, and according to a survey, more American children want to be a YouTube celebrity (29%) than an astronaut (11%) when they grow up.

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Transitioning to Virtual Classes

A new live dance altered reality—cobbled together almost overnight and delivered to our living rooms, where we have a direct line of sight as sweaty participant-observers.

The need to stay connected was immediate inside the dance community, which was cultivated by daily practice, frequently in the common space of the studio and stage.

The answer, pivot to video, almost sounded like a jazzercise step. The transition from out there to here happened in a flurry of days and weeks in myriad ways.

Ballet companies began offering morning classes via private Zoom; dance-cardio routines were posted on Instagram to entice the work-from-home crowd, while some teachers requested Venmo donations for artists-aid organizations.

Dancers and choreographers are breaking out of the shadows thanks to video-centric platforms like YouTube, Instagram, and the growing Tik-Tok. Live sessions led by dance luminaries have proliferated on Instagram and YouTube. Thanks to celebrity DJ Diplo, living rooms are becoming rave hotspots.

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Financial Impact

Because the dance industry is heavily reliant on live paying audiences, the financial crisis has had a significant impact. Every organization and individual dance artist faced a paradigm shift, embracing the concept of sharing dance digitally to keep it alive and share with those who enjoy and support the art form.

Even though the crisis has isolated people in their homes, the switch to the internet, has also connected them to a global dancing community.

Dancers and teachers are working together to stay motivated and finish their education. A lot of choreographers, today, consider dance as a viable option.

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“I realized the importance of social dancing while studying civil engineering in Pune. Until then, I had been a solo dancer in high school and college. I suggested to corporate firms that after studying salsa and bachata, they introduce dancing as a fitness activity for their staff. Today, I work with a group of 30 choreographers, including roughly eight people who have left corporate employment to pursue their passion for dance”

Says Md Nazir, who is a 27-year-old co-director with Delhi Dance Academy.

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Dancefluencers

Dancers have been creative in adapting to online classes, even though they have often been tough. The arduous effort of juggling marketing and dance degrees grew even more difficult when technology became the only medium for consuming classes during the outbreak.

Revenue plays a major role in any business!

The dance instructors, relatively new to the technology, were found to be struggling between the smooth transaction for classes. Keeping track of the transactions and students became a perplexing chore.

This consumed a lot of energy, drifting the focus from the classes to financing.

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To avoid the Zoom fatigue dancers have taken to Instagram Reels and IGTV for their dance tutorials. Dance instructors go live on Instagram for a couple of days, to teach dance and interact with their students through the chat option.

But this new age of dance influencers or aka "dancefluencers", have little or no monetization through these means of education, eventually moving back to Zoom and other platforms, being their last resort.

A lot of dancers pursuing a commercial career typically require representation from an agency, which assists dancers and choreographers in navigating the business side of the industry and typically takes a 10% cut when booking jobs.

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Regardless of whether or not they have an agent, dancers must audition or compete for a job, which can involve hundreds of performers vying for one or two seats.

It may appear that the industry is only open to individuals who are regarded most marketable to general audiences.

We've arrived at this point!

Today's dancers don't need permission from conventional gatekeepers to pursue their art and establish a fanbase, thanks to the ease and accessibility of digital media.

Creators can become full-fledged businesses with different revenue streams beyond ads after developing fandoms that follow them off-platform.

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Virtual Events

Virtual events are becoming more popular, and dance communities are attempting to make the best of the situation.

They are hosting virtual dancing competitions, conventions, and online performances to keep dancers entertained and educated while also providing a modest financial cushion for themselves.

There are live streaming performances that are not normally available for public watching. Dance is an industry that thrives on new ideas.

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A platform for the creators

💡 This shift to the digital era has allowed instructors to tap into a lot of benefits as well. 2021 is a decade of video and digitization!

Instead of adapting to the virtual possibilities, what if the dance industry had access to a platform built to give dancers intuitive accessibility, fostering an environment for a seamless online class experience.

A platform made by dancers for the dancers!

Versai is the first-ever platform to bridge the lines between an E-commerce tool and a video conferencing tool.

With a smart interface, Versai, allows the instructors to easily transact on the platform, eliminating the usage of extra transacting applications. A student when paid is let into the class, automatically.

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Why move Online?

Going virtual, gives the dancers a global reach, enabling them to connect with people from any corner of the world.

This would allow the instructors to maximize their profits, allowing them to earn 4x revenue, by reaching out to students at any time of the day, when in past they were restricted within boundaries and timeframe.

Along with the global benefits, growing dance business online turns out to be cost-effective, has a wider reach and is convenient and easy to access. It is a customized form of learning and is flexible according to your needs.

Switching to hybrid classes, gets you more traction and prominence, giving you that extra push of revenue. The median hourly wage for choreographers is $30.72, in the US.

Every hour gets productive with Versai!

Unlike in-person classes, save yourself from the hassle of renting out a studio. Versai, fosters the needs of the dance community, providing them a user-friendly interface and much-needed technology. Now turn your room space, or garage into your perfect dance studio!

💡 We are building a platform for the future, in this time of evolution and digitization!

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