Is the events industry going the way of Ticketmaster and Live Nation? Few choices and the potential for serious price gouging? Could be. Two events juggernauts are gobbling up smaller more niche events services, making their offerings more conducive to one-stop shopping (and one-stop fleecing.)
Cvent acquired Splash last week. Splash came onto the scene to help market events. During the pandemic years, it did a yeoman’s job of creating programs to drive both sales and attendees. Splash
distinguished itself by creating handsome landing pages and services with lots of analytics behind the pretty page.
The acquisition should help Cvent add marketing oomph to its event repertoire. Earlier this year Cvent acquired Reposite, an AI sourcing program to help users make the process of finding event services and suppliers easy.
Cvent’s sweet spot is corporate event management which offers features such as event planning, budgeting, and registration management. It’s earned a reputation for being a capable, if not sexy, event-planning solution, but with acquisitions like these, there’s a dose of sex appeal.
One of Cvent’s rivals in the events management ecosystem is Informa. Unlike Cvent, which focuses on the power behind the scenes, Informa is more of a media company owning tradeshows and publications. It also had a big week, buying the Vidcon trade show that caters to the creator economy.
Vidcon was the brainchild of brothers John and Hank Green, two YouTube progeny. The show deftly grew to become the preeminent conference for the emerging creator economy. It was acquired by Paramount (previously Time Warner) and is now part of Informa’s stable of
conferences. Informa also produces ComicCon, another heavily fan-based conference, so the company is no stranger to the fandom game.
While Informa's roster is formidable, it also has a pretty good stronghold on the events publishing side of the business, with media brands collectively called Connect Meetings, including BizBash, Trade
Show News Network, Corporate Event News, and Exhibit News Now.
Connect Meetings recently hosted a Las Vegas event called Connect Marketplace for media and marketing events professionals that received wide acclaim. Julius Solaris, someone who keeps a keen eye on events of all stripes, lauded Connect Marketplace for its lively registration area (food, drinks, and local color), high business where buyers had tables where suppliers could visit (a reverse twist on the usual theme), micro-events
including orientation for newbies, wellness events like 5K runs and pickleball, and more. He put these ideas into a single video embedded in
this post. Connect Marketplace proves that event planners need meetings that sizzle.
Consolidations like these make decision-making easier for shoppers but also more limited. Expect more acquisitions, but lots of new opportunities to fill in the niches left behind. |