Download Innovation 2015 chapter: It’s showtime, folks!
Most publishers do not have hundreds of advertisers queuing up on the street, praying for the chance to buy expensive advertising inventory that has already been sold out.
John Wilpers and Juan Señor, editors of the Innovation in Magazine Media World Report, will speak at FIPP Innovation on 15th October as part if the FIPP Congress which takes place in Toronto on 13 – 15 October 2015. You can book your place here.
But some publishers do have waiting lists of hundreds of consumers clamouring to spend thousands of dollars to attend the magazine’s sold-out seminars and summits.
Welcome to the red-hot world of events.
Some publishers are reaping millions of dollars in event income, representing as much as 20 per cent of total revenues.
The many benefits of events
As good as the revenues are, the side benefits of events are at least as good. According to the American Press Institute, events:
- Boost exposure
- Diversify revenue sources
- Are much harder to disrupt than other revenue sources
- Deepen connections with audiences and sponsors
- Hike circulation
- Beat the competition to ownership of a niche
- Expand relationships with businesses and institutions that may add more to a publisher’s coffers over time
- Attract advertisers who might not advertise in the magazine’s media
- Break news
- Raise the magazine’s stature among consumers and key players in a niche
- Reward subscribers with special access
- Give magazines “face time” with their subscribers and potential subscribers
- Change organisational culture
- Have high growth potential
- Given the continuing decline of print advertising, publishers around the world are looking for replacements and are finding events to be a lucrative alternative.
Download the full chapter here.
Order the Innovation in Magazine Media World Report.
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