Founded in ’99, Napster was a peer-to-peer digital audio file sharing platform, and it broke the music industry.
CD sales crashed, and it was 15 years before the industry started seeing growth again. Is Zoom the Napster of the event industry?
It’s now much easier to put on great virtual events, at a far lower cost than physical ones. We recently put on a fully virtual event to 2,600 participants, you can read more about here.
Billions of dollars are being sucked out of the events industry. But what’s the upside?
- Sponsorship costs less, and digital tech provides detailed targeting and tracking of user behaviour to better determine ROI.
- Business travel is avoidable – a win for budgets and the environment.
- Digital means data – useful data. Polls, Surveys, attendance times and time spent in particular segments can help you gauge intent for lead follow-up.
- Accessibility. Not everyone can step away from home or the office to attend an event in-person.
There will always be a place for physical events, and the level of engagement they bring is difficult to replicate online. But people once thought online matchmaking was weird, and now dating apps are a part of life. Who knows what the next ten years will bring to the event space. Hologram chat? It works in Star Wars.