Hardships of the events industry
I want to add a disclaimer and say that this is just an observation as my day job involves working in conference production. This blog is not intended to harm or offend anyone or any company. However, I do encourage discussion on the topic, and to learn from what you’ve got to say. I’m not trying to be negative but rather paint a picture.
We live in what is one of the most unique economic conditions. I don’t know if it’s just me, or if anyone else feels the same, but I feel that even though COVID is a thing of the past, New Zealand is still recovering from it, six years on. On the one hand, there are funding opportunities that are made available for major events, and on the other hand, we are seeing other major events and festivals on the decline or seizing operations.
Whether it’s a conference, concert, or another event, attendance is declining. You can weave the positive narratives, but the reality is that people want to spend less on events. It’s a nice-to-have and not a need-to-have. Putting any event together is not an easy feat and costs a lot of money. There are huge risks involved.
This year alone, there has been constant news of some major summer festivals either taking a break or shutting their doors. Across the ditch, it has been announced that SXSW has been canned after three years. It’s disheartening to see this trend be on the rise, in an industry I love so much.
From venue costs to artist costs to other operational costs, everything is on the rise. Ticket costs have gone up exponentially. There are some small wins from time to time, don’t get me wrong. If there was a way to collaborate and further the events, that would be a welcome discussion. Not just events you think will make an impact, but where possible all events.
Events add to the economy significantly. Not just that, they form connections, and create memories and experiences that make it to LinkedIn posts, blogs and others. It helps people grow. Here’s hoping that the curve starts to go up soon.
Until next time,
Mili
