Things have changed a lot since we published a report in 2019, “Events in Magazine Media: How to convert them into a revenue source”. It concerned all the ways in which magazine media can – and should – embrace in-person events as part of their overall strategies for the future. But when this trillion dollar industry was brought to a halt almost overnight by Covid-19, the events space seemed shaky at best. What kind of future were we looking at?
After the initial shock, however, it became clear that media companies had been left with a huge opportunity. Into the vacuum of physical events flowed an array of online offerings, from webinars and casual meetups to full-scale, multiweek conferences. At FIPP, we know the value of a large, in-person event – for networking, novelty, and gathering new ideas. Nonetheless, the numerous online get-togethers that have proliferated in the place of live events have highlighted both the value of innovation, and the demand for high quality content in times of uncertainty. Amidst great anxiety, publishers have risen to the challenge, meeting the needs of their audiences and showing remarkable resilience in a rapidly shifting environment.
With this in mind, we’ve designed this new report to resolve some of the questions industry professionals might have about making the most of the new circumstances – as social distancing measures continue, as air travel decreases, and as we move into a still-unpredictable future. Even under difficult conditions, and bearing in mind the multiple challenges of doing things virtually, opportunities from brand-building to securing a lucrative new revenue stream can and do emerge for publishers navigating the new “virtual world”. We hope this report will provide hope and inspiration not only through the pandemic, but beyond it too.
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