Insight: Issue 136 | Wed 17 May
Let’s get newsy
We’re back, and this week we’ve got headlines with more winning power than Sweden’s Eurovision trophy wall.
So what’s in stall?: 85% of exhibitors are choosing where to exhibit based on cost; Coronation Concert Showcased Best of Live Events Industry; Halo v5 supports Coronation; and Eurovision highlights gen Z’s desire to embrace metaverse.
85% of exhibitors are choosing where to exhibit based on cost
During Hire Space’s ‘The Events Outlook’ event in Bishopsgate, London, market research firm Explori presented new data revealing that 75% of exhibitors are under pressure to cut exhibit-related costs according to their report. The event saw over 40 senior industry profs come together to discuss strategy; optimising events programs amidst rising costs and stretched workforces. Panel discussions throughout the event included big industry names such as Nikki Macmillan, head of events at New Financial, Kate McLachlan, events manager at Kennedys Law, and Craig Bennet, general manager at Convene, 22 Bishopsgate.
‘The Events Outlook’ was delivered using the host company’s pioneering new service Hire Space 360.
Edward Poland, co-founder of Hire Space, comments: “The pressure on event planners is significant, and services such as Hire Space 360 are becoming more and more valuable to provide support on event programmes and help keep events delivered on time and on budget. The idea is to take the strain off event professionals in venue and supplier sourcing, contracting, and onboarding so they can focus on delivering genuinely exciting and engaging events.”
Coronation Concert Showcased Best of Live Events Industry
A Big Win(dsor) for the biz.
The UK live events industry showed the nation what its made of at the Coronation Concert at Windsor Castle last weekend. The 20,000-capacity extravaganza saw acts including Take That, Katy Perry, Andrea Bocelli, and Lionel Richie taking to the stage, a feat made possible by events whizz’s like Stufish, NorthHouse, Creative Technology, SKYMAGIC, Star Live and Liteup.
On refreshment duties for the evening were hospitality maestros Peppermint Bars & Events, serving up food, drink and their very own ‘The Crown’ beer. Broadcast on BBC One, the concert saw an average audience of 10.1 million and a peak viewership of 12.3 million.
Halo v5 supports Coronation
During the Coronation, event safety software developer Halo Solutions put its incident and threat management software platform, Halo v5, into action.
Designed to assist with public safety, the platform was used in ‘Operation Golden Orb’, the Met’s security strategy for the Coronation as well as the concert at Windsor Castle. Halo v5 worked with partner agencies in both private and public sectors to monitor and safeguard infrastructure, transport links and crowd movement. Its main goal was to ensure crowd safety, manage incidents, monitor security personnel and assets, as well as implement counterterrorism strategies to monitor for suspicious persons, packages, vehicles, and baggage.
Eurovision highlights gen Z’s desire to embrace metaverse
Making your mind up – with meta.
According to a recent survey by Amdocs, 76% of UK Gen Z consumers (16-24) would be keen to watch the Eurovision Song Contest in the metaverse, with 34% of them willing part with their cash to do so.
Although companies such as Disney, Meta, and Microsoft have rolled back investment in to metaverse projects, the metaverse is set to generate up to $5 trillion by 2030, impacting all areas of AV tech. Additionally, 53% of 16-24 year olds believe augmented reality experiences would enhance their Eurovision viewing experience, and 30% are willing to pay more for a ticket with reliable 5G mobile connectivity.
Amdocs’ chief marketing officer, Gil Rosen speaks on the potential of event tech:
“For providers of technology and connectivity, our findings demonstrate the scale of the opportunity around major entertainment events, whether consumers are enjoying them in the home or live at the venue. In the era of 5G and immersive technologies, providers that meet consumers’ demands and expectations around technology-led entertainment will reap the rewards.”
That’s your lot for this week folks.
Join us next week for more eyebrow raising industry particulars.