Marco Giberti, who’s been a guest at our VEG meetups, has been writing about what's happening with events and event tech growth and valuations, particularly how
tech could continue (or not) to influence our industry.
The good news, he says, is that face-to-face events are coming back fast and furious, But, he goes on to say, “The fact that face-to-face events are back doesn't mean that
event tech is no longer relevant.” (He addressed this topic in his recent blog post.)
Still, he notes, it’s a tough time for event tech platforms. Companies like Hopin, Hubilo, and Bizzabo are
examples of meteoric pandemic rises. All were overvalued shiny objects during the pandemic. But, argues Giberti, so was every other tech stock.
He believes we’re seeing a re-adjustment of the financial model and of the rightful place for digital platforms in the event ecosystem. “If we want to connect the right buyers and sellers (B2B events) or fans and creators/celebrities (B2C events) and maximize their time, investments, and experiences in future events, tech engagement for all event stakeholders
is inevitable,” he says. You can read the original thread on LinkedIn with some great comments. We’re expecting Giberti to join us this fall for a second appearance.
Elsewhere, Market Watch released a very upbeat report on the virtual event business, replete with a bit of
history. Did you know that Alan Saperstein and Randy Selman of Visual Data Corporation (now known as Onstream Media, they are important members of the VEG community.) first publicly defined and presented the “virtual tradeshow” as “ConventionView” in a presentation to investors at the Waldorf Astoria hotel in New York
City in April 1993. Virtual events… not so new after all.
Production Matters
While it’s true that the event tech platforms are doing a bit of rightsizing and soul searching at the moment, it’s widely agreed upon that there’s real value in virtual events. Whether its broad reach, relatively low costs, or the ability to forge new ROI, digital engagements are in it for the long haul.
But the production values for digital events keep rising. An article in Gulf Business News, written by a Zoom employee in the Middle East and North Africa, reminds us that we’ve learned to expect high production
values for digital events. The author goes on to make the point that with more hybrid work and learning, it will be increasingly important to bridge the gap between the audience in the room and the audience elsewhere. And we believe that goes double for events.
As for me, I like to point to the Jan 6th hearings as a great example of production values.. Whatever side you are on, credit belongs to the hearings for mastering multiple mediums: video, storytelling, graphics, captions, tweets, and live footage, interspersed to make it the most compelling TV since The Twilight Zone. |