The Immersive Media technology supporting the online video, scheduled for online availability at 8 p.m. PST, is designed to enable users to freely navigate around a video, 360 degrees, letting them explore angles and shots that they wouldn't normally have been able to see.
While I haven't seen the Woodie feed yet, I did have a chance to play around with the technology on some test videos. The video experience seems perfectly suited for a concert format. It's certainly something worth checking out, even if you don't particularly care for the music, which is scheduled to include performances by Death Cab for Cutie, The Dead Weather, Matt and Kim, and Passion Pit.
This is the first big event for the IM Live technology, so it should be interesting to see how the experience of the fully produced show on TV compares to the IM Live video experience, in which site visitors essentially become their own producers. If you end up making your own comparisons, let us know what you think.