Wave
Wave (WaveXR, Inc.) is a Los Angeles-based immersive entertainment company producing live, bi-directionally interactive virtual concerts via VR (Meta Quest 3/3S) and Discord 2D livestream, serving music artists, labels, and fans through its Wave Stage XR studio and Unreal Engine platform.
- Company typePrivate
- Founded2016
- HeadquartersLos Angeles, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingSoftware
What Wave does
Wave (WaveXR, Inc.) is a Los Angeles-based virtual entertainment company founded around 2017 by musicians with deep XR expertise that operates an immersive 3D live entertainment platform for artists, music fans, and rights holders. Its core offering is a 24/7 hub of live, bi-directionally interactive virtual concerts ("Waves") in which performers and audiences influence each other in real time, supported by an in-house XR performance studio (Wave Stage) in Culver City that combines a 20ft x 9ft curved LED wall, 10ft x 10ft LED floor, motion capture, pro-grade audio, and Unreal Engine-based rendering. Performers can shape lighting, soundscapes, and effects live via MIDI controllers and foot pedals, including a "Peak State" overdrive mode, while audiences attend via a Meta Quest 3/3S VR app or a 2D interactive livestream on Wave's private Discord.
The company's customer base spans independent and marquee musicians, major record labels, and gaming/entertainment companies. Marquee partners and performers named in the source data include Warner Music Group, Riot Games, TikTok, Tencent Music Entertainment, The Weeknd, Justin Bieber, Calvin Harris, Dillon Francis, Imogen Heap, Lindsey Stirling, Galantis, and Glitch Mob, alongside a continuous slate of mid-tier and indie artists (Reid Speed, Haywyre, Luis Torres, slenderbodies, Kaash Paige, Brian McKnight Jr.) participating in seasonal residencies. Wave has raised approximately $42.5M in disclosed funding across rounds from 2016-2020, with strategic backing from Tencent Music Entertainment and celebrity cash from Justin Bieber, The Weeknd, and J Balvin.
The business model is in transition. Historically, Wave generated revenue from bespoke virtual concert production partnerships with artists, labels, and platforms (e.g., The Weeknd's TikTok virtual concert drew 2M+ viewers and raised $350,000 for the Equal Justice Initiative). Since the October 17, 2024 Closed Beta launch, consumer access is free via a referral-based waitlist, with future monetization planned across paid services (processed through Stripe), virtual goods, advertising, and sponsored shows. The company is privately held, employs 251-500 people, and is headquartered in Los Angeles with its Wave Stage production facility in Culver City.
Wave firmographics
Firmographics- Name
- Wave
- Legal name
- WaveXR, Inc.
- Website
- https://wavexr.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Wave (WaveXR, Inc.) is a Los Angeles-based immersive entertainment company producing live, bi-directionally interactive virtual concerts via VR (Meta Quest 3/3S) and Discord 2D livestream, serving music artists, labels, and fans through its Wave Stage XR studio and Unreal Engine platform.
- Ownership category
- akta.pro rank
Wave industry classification
Industry- Product category
- Immersive Virtual Concert Platform
- NAICS
- Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Record Production and Distribution (51225)
- SIC
- Services-Motion Picture & Video Tape Production (7812)
- akta.pro primary industry
- Virtual Concerts & Music Festivals (Livestreamed Performances) (MPAGAOAD)
- akta.pro secondary industry
- Music & Concert Video Streaming Platforms (MPACAAAI)
Keywords
Where Wave is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Wave business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Beta access (free during beta): Currently no cost to participate in Wave Beta; monetization is explicitly stated as a future possibility but focus during beta is on feedback and platform refinement.
- Paid Services (planned): Certain Services may be subject to payments now or in the future; billing processed through Stripe, Inc. Payment Processor with a linked Billing Account.
- Virtual Goods: Users may earn, buy, or purchase virtual currency (coins, cash, tokens, points) and virtual in-game items; Virtual Goods are licensed (not owned), non-redeemable for cash, and non-transferable except as expressly allowed.
- Advertising / sponsored shows: Marketing cookies and interest-based ads served by third-party ad networks; potential for branded/sponsored virtual performances.
- Strategic artist/label partnerships and brand integrations: Partnerships with Warner Music Group, Riot Games, TikTok, Calvin Harris, and others for branded virtual concerts and content collaborations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free closed Beta (invitation via waitlist) |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels9 records
Wave product offering
Product offeringCore offering
Wave operates Wave Beta, a real-time immersive virtual concert platform that streams live "Waves" — fully-produced 3D performances captured in its proprietary Wave Stage XR studio in Culver City — to fans via Meta Quest 3/3S in VR and via an interactive 2D livestream on Discord, with built-in bi-directional interactivity between performers and audiences. Beyond the consumer platform, Wave produces branded virtual concerts and immersive experiences for labels, brands, and rights holders (including partnerships with Warner Music Group, TikTok, Riot Games/Valorant, and OneOf), and is building artist-facing creative tools and rights-management infrastructure to expand live immersive entertainment.
Product overview
Wave's offering is a single unified platform branded as Wave (operating in Wave Beta) that combines a 24/7 immersive 3D entertainment destination with a set of integrated production modules. The core platform, Wave Beta, delivers Waves — the company's live virtual shows — across two access endpoints: VR via a Meta Quest 3/3S-native app and a 2D interactive livestream on Wave's private Discord server. Sitting on top of that platform, Wave Stage is the company's XR performance-space module in Los Angeles that captures performers in real time, and the content creation tools module powers faster, cheaper show production. Together, Wave Beta, Waves, Wave Stage, the Discord interactive livestream, and the content creation tools form an artist-first stack for live, bi-directionally interactive entertainment.
Differentiator
Problem solved
Functional benefit
Brands
- Wave Stage: XR performance studio located in Culver City (Los Angeles), California; a fully integrated hardware and software live-performance space featuring a 20-foot by 9-foot curved LED wall, 10-foot by 10-foot LED floor, and pro-grade audio for bi-directional interactivity between performers and audiences.
- Wave Beta
- Wave Makers
Products and services
- Wave Beta
- Waves (live virtual concerts)
- Wave Stage
- Branded and partnership virtual concerts
Quantifiable outcome
- The Weeknd TikTok virtual concert drew over 2M viewers and raised $350,000 for the Equal Justice Initiative
- +2 more outcomes
Companies that use Wave
Customer profileNamed customers15 records
Segments3 records
Ideal customer profiles4 records
Wave technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability5 records
Feature7 records
Wave partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered flagship, core and minor.
- Warner Music GroupflagshipWarner Music Group entered a strategic partnership with Wave to produce more celebrity virtual concerts (Rolling Stone coverage).
- Riot GamesflagshipRiot Games partnered with Wave to shape interactive virtual experiences (Hollywood Reporter).
- TikTokflagshipWave created interactive shows on TikTok with global artists such as The Weeknd, Justin Bieber, and Calvin Harris, including a Calvin Harris special immersive concert experience on TikTok LIVE.
- OneOfcoreWave launched its first NFT collection in collaboration with OneOf and artist Teflon Sega (VentureBeat, 2022).
- HyperXminorHyperX published a feature on how Wave is fueling virtual entertainment experiences through gaming and innovation.
- Meta (Quest)flagshipWave Beta is distributed on the Meta Quest platform supporting Quest 3 and Quest 3S headsets; users access the app via Meta Account email and Meta Horizon distribution.
- DiscordcoreWave hosts its private Discord server as the primary community hub for Beta updates, show schedules, support, and bug reports; serves as the 2D interactive livestream endpoint for Waves.
- Stripe, Inc.coreStripe serves as Wave's third-party payment processor for Paid Services, collecting payment card information through a linked Billing Account per the Terms of Use.
- Calvin HarrisflagshipCalvin Harris performed a special immersive concert experience on TikTok LIVE produced with Wave (TikTok newsroom).
- Teflon SegacoreNFT artist and Wave advisor; co-created Wave's first NFT collection with OneOf and continues to collaborate on artist programming.
- Dillon FranciscoreArtist collaborator who joined Wave for a virtual show featuring interactive fan gifting of dancing avocados.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Wave competitors and assessment
Company assessmentBroad incumbents
- Epic Games (Fortnite): Epic hosts mega-scale virtual concerts inside Fortnite (Travis Scott, Ariana Grande, The Weeknd) and controls a much larger mainstream audience. It is the most credible competing destination for immersive virtual shows, though it is a general gaming platform rather than a music-first venue like Wave.
- Roblox: Roblox runs immersive concerts and brand experiences for artists (Lil Nas X, Twenty One Pilots) on a user-generated 2D/3D platform. It competes for the same artist and label virtual-concert budgets as Wave, but with a far larger audience and 2D-first distribution.
- Live Nation Entertainment: Live Nation is the world's largest live entertainment company and is actively investing in virtual and immersive formats. It competes broadly for artist touring dollars and could partner or compete with Wave on virtual concert IP and touring economics.
Direct peers
- Stageverse: Stageverse builds immersive, interactive virtual concert and event venues for artists and brands in VR and on the web. It is the closest direct competitor to Wave's immersive concert platform with a similar artist-first positioning and live, interactive shows.
- Sensorium (Sensorium Galaxy): Sensorium develops VR/metaverse entertainment experiences including virtual concerts with major EDM and pop artists. It overlaps directly with Wave on VR-first immersive live music targeting global audiences.
Emerging players
- VRChat: VRChat is a large user-generated VR social platform that hosts community-driven concerts and live events. It is comparable to Wave on the VR entertainment destination axis, though it is community-driven rather than artist-first and curated.
- Rec Room: Rec Room is a cross-platform social VR app that hosts live events, concerts, and creator-built experiences. It competes for VR headset attention on Meta Quest — the same distribution channel Wave relies on — and overlaps on live entertainment use cases.
- Decentraland: Decentraland runs blockchain-based virtual events and concerts (including major music festivals). It overlaps with Wave's earlier NFT/Web3 experiments with OneOf and competes for the same forward-looking immersive music experiences category.
Others
- Disguise (d3): Disguise provides the technology behind many large-scale virtual production stages and live events (e.g., ABBA Voyage, major tours). It is an enabling infrastructure peer to Wave's Wave Stage capture pipeline rather than a direct concert competitor.
Regional players
- HYBE / Weverse (formerly Weverse Company): HYBE-backed Weverse is a leading fan platform hosting immersive artist content and virtual events primarily for K-pop artists. It is comparable to Wave's label/artist ecosystem play, but skews Korean/Asian and is integrated with one major label group.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Wave social profiles
Digital presenceWave compliance and trust
Trust signalCompliance3 records
Wave financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wave leadership team
Management profileNumber of profiles
Profiles12 records
Wave subsidiaries and ownership
Company hierarchySubsidiaries1 record
Wave funding detail
Funding detailFunding overview
Funding rounds6 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wave M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wave
What does Wave do?
Wave operates Wave Beta, a real-time immersive virtual concert platform that streams live "Waves" — fully-produced 3D performances captured in its proprietary Wave Stage XR studio in Culver City — to fans via Meta Quest 3/3S in VR and via an interactive 2D livestream on Discord, with built-in bi-directional interactivity between performers and audiences. Beyond the consumer platform, Wave produces branded virtual concerts and immersive experiences for labels, brands, and rights holders (including partnerships with Warner Music Group, TikTok, Riot Games/Valorant, and OneOf), and is building artist-facing creative tools and rights-management infrastructure to expand live immersive entertainment.
Is Wave a public or private company?
Wave is a private company. It is classified as venture growth investor backed and is currently operating.
When was Wave founded?
Wave was founded in 2016. It employs 251 to 500 people.
Where is Wave based?
Wave is headquartered in Los Angeles, United States, in the North America region.
How does Wave make money?
Five revenue lines are on record. Beta access (free during beta) is the primary driver. The others are paid Services (planned), virtual Goods, advertising / sponsored shows and strategic artist/label partnerships and brand integrations.
Who are Wave's main competitors?
Broad incumbents on record are Epic Games (Fortnite), Roblox and Live Nation Entertainment. Direct peers are Stageverse and Sensorium (Sensorium Galaxy). Emerging players are VRChat, Rec Room and Decentraland. Disguise (d3) is listed as an others. HYBE / Weverse (formerly Weverse Company) is listed as a regional player.
Does Wave have an API?
No public API is recorded for Wave.
What industry is Wave in?
Wave's product category is Immersive Virtual Concert Platform. Its primary akta.pro industry code is MPAGAOAD, Virtual Concerts & Music Festivals (Livestreamed Performances), with a secondary code of MPACAAAI, Music & Concert Video Streaming Platforms. Its NAICS code is 516210 and its SIC code is 7812.