THE EVENTS BUSINESS MODEL
The increasing benefits from events are being driven by the growth of the “experience economy.” According to the FIPP 2019 Events in Magazine Media report, 78% of millennials choose to spend money on a desirable experience rather than a material product. “People have so many digital experiences these days, they’re craving that live experience more and more.”
— Michael Caruso, Editor-in-chief at Smithsonian Magazine.
Media companies have a leg up on almost everyone else in the events space. Maybe two legs! OK, most media companies do not employ an army of event planners; many don’t even have one event planner on staff. But that’s the kind of expertise you can buy....
Read latest Innovation in Media 2020-21 World Report online.