Profits Rise for Conferences and Events (From NYT)

Posted by Bob Appel on Oct 28, 2013 12:41:22 PM

Profits for conferences and events are on the rise, and many media companies are now getting into the often lucrative events business according to an article in today's New York Times. Evidence for the popularity of media company produced events: the New York Times is producing 16 events this year, up from one event in 2011; Huffington Post will produce three new events next year; Cosmopolitan two events; Atlantic Media some 200 events a year.

new yorker festival conferenceAside from the lure of profit from sponsorships and ticket sales, conferences and events provide a powerful marketing platform for media brands by creating a new way to interact with their readerships, something we're helping many of our partners with. Also, some of our media company partners are changing their perceptions about conferences and events in two key ways.

First, there is a recognition that even while a conference or event may be organized by the marketing department,the "content" being produced onstage at the event is "editorially pure." Embracing this new content stream means live streaming and videotaping in order to reach audiences far beyond the confines of the venue. New revenues from additional sponsorships and pay-per-view sales naturally follow.

Second, the production costs associated with live streaming and videotaping an event are no longer viewed solely as a marketing expense. A growing number of media companies regard these production costs as an investment in video content, one that generates ever increasing long tail revenues from a growing library of programs. Think in-video ads, which provide better CPM rates than display placements, and pay-per-view sales or tie-ins with digital and print subscriptions.

Most telling, "Media Outlets Embrace Conferences as Profits Rise" reports that Fortune's events business is seeing 60% annual growth in revenue and Atlantic Media earns 20% of its revenue from events. The article states, "A successful event can generate several million dollars in revenue, mostly from ticket sales and corporate sponsorship."

I invite you to browse our library of conference and event video, which features many of the biggest names in the media industry.

Topics: live stream, sponsorship, ticket sales, video, Blog Post, conferences, events,, Industry News, New York Times, pay-per-view, profits