Live events are nothing new, but they are capturing consumers’ attention like never before. From big festivals to pop-up events, consumers are seeking additional ways to engage with the media brands they like. In an age where 78 per cent of millennials choose to spend money on a desirable experience rather than a material product, there's an exciting opportunity to appeal to them in person. Perhaps most importantly for publishers in our ever-changing media landscape, events can become a solid revenue source.
FIPP’s latest Insight Report, Events in magazine media: and how to convert them into a revenue source, is all about events: packed with tips, info, and success stories from across the industry, it’s been written with the aim of showing that any magazine media brand, no matter how small, can gain from taking events seriously.
The opportunities created by real world events for media companies is a topic that has come up consistently at the Digital Innovators’ Summit over the past few years and will be explored in depth at the 2020 event with speakers sharing case studies and key learnings.
Feelings of fatigue with the 24-hour news cycle and digital media saturation may be contributing to the renewed interest in “real-world”, face-to-face encounters. “For brands and consumers, a live experience can cut through the often-shallow nature of some of this to create deeper connections,” Victoria Archbold, Managing Director, Events and Sponsorship at Hearst Live UK, told FIPP.
“The bottom line is that people want to engage in person,” says Jonathan Moore, SVP of Events at Bonnier US. “And there are now significant opportunities to garner marketing dollars in experiential platforms.”
In addition to case studies and interviews from the US, Canada, and the UK, the report also features interviews with representatives from across the globe: Augment, Burda’s new events agency in Hong Kong, Associated Media Publishing in South Africa, and Editorial Perfil in Latin America. It asks how they are adapting to the changing events culture and what long-term strategies are helping to capitalise on this trend.