I think a couple of you are focusing a bit more on the recordings than the actual event. I do have the recordings linked in the event, where all of their locations can go. If I add the same information to the event, why have an event at all? Aside from the setlist of course.
That’s why I do think the location of the audience has some significance.
There are also edge cases such as Eric Whitacre’s Virtual Choir where there were 17,572 people in 129 countries all participating so worldwide or virtual would make sense as a location.
Wow, that’s amazing!
I’m leaning towards worldwide, especially since that’s how the majority of digital releases are handled and the community is already used to seeing that type of information.
A checkbox in the event to toggle “virtual” could be informative, but I don’t think it’s absolutely necessary. Virtual events have become very common, though. If we were to have some sort of virtual option, a platform type could coincide with it (YouTube, for example.)
I just used [worldwide] for an online festival I entered for the same reasons. If I had entered the individual artists performance location, the event would have needed to be split into as many events as there were performers, spread all around the world, which ends up diluting the data to the point of uselessness.
I feel an additional [online] place would nicely mirror the [worldwide] area for these purposes.
You’re not wrong at all, it would’ve been held in Arkansas. It was most definitely coordinated from Arkansas, probably North Little Rock since that’s where the coordinator/booking agent is. That’s significant.
Only 5 of the 15 bands are from Arkansas. Estimated from what I know about the other bands, that’s 7-8 more states that artists were playing from. The USA, in a broader sense, is the smallest region that it could be said the event happened in. It wouldn’t bother me to use that as the area at all, nor would multiple states or cities, but I still think those areas are far more important for the recordings.
I mainly wanted to find out some opinions on the significance of the digital aspect of modern events. It blew my mind that a festival like this was viewed only from the internet. I thought this was kind of a milestone achievement, especially for the southern metal community.
Wait, you can already do it? I just tested it and it only appeared in the relationship editor after I typed the full “worldwide”. If I type “worldwid”, I’m only missing one letter and it still doesn’t appear! I know that the search engine is a bit buggy but that’s ridiculous. I still feel silly now. 
That’s a good point…
I notice the radio station Bassdrive release their shows as MP3s and tag the hosting DJ’s locations which does look good when it’s a worldwide station… But they always tag UK as Uk which kinda makes my eyelid twitch.