It's so awesome seeing these types of videos. I'm so tired of youtube videos from the 90's being grainy and blurry as hell. THIS is how I remember the 90's! Crystal clear and full of color! I mean hell, this looks like this was recorded yesterday.
Apparently there are more videos like this. This is a performance recorded using Sony's HDVS (High-Definition Video System). It existed since around the mid-80s.
Here's an extra video using the same tech featuring a performance by Tom Petty (from Bob Dylan's concert celebration in 1992)
BONUS performance from Queen from 1981