I worked 10 years at Meeting Professionals International as an editor for The Meeting Professional before coming on board for IAVM and Facility Manager magazine. You could say that meeting and event planning blood is still coursing through my veins. So, when I saw a recent article in the New York Times about events and journalism, I got excited.
The article is about how media companies—such as The Atlantic, Cosmopolitan and The Huffington Post—are using live events and festivals to boost their bottom lines.
“Most media companies do not break out their revenue from events, so it is hard to pinpoint how profitable they are, but executives familiar with the business say there is little doubt they can be reliable moneymakers,” Leslie Kaufman reported. “A successful event can generate several million dollars in revenue, mostly from ticket sales and corporate sponsorship.”
These events aren’t just about making money, though. They’re also about extending brands and creating content to be re-purposed or sold to other media outlets.
“Interviewing specialists onstage is now called ‘live journalism,’ and conference centers are considered just another social platform with Twitter, Facebook and online video,” Kaufman reported.
I suggest you read the article, and please let us know in the comments if you’ve seen an uptick in media outlets booking your venues for events.
(Image via Flickr: David Marcel/Creative Commons)