May 9th, 2023 | Alex
The Demand for Live Events
As we near halfway through the year and enter summertime, demand for live events has never been greater. A few years ago, the live events industry was completely stalled and the whole industry had to adjust.
Now that we’re firmly on the other side, it is evident that live events have made a very strong comeback. Live Nation announced record figures for 2022 with ticket sales up 45% which gives evidence that the live events business is booming.
But what is the reason for this surge in appetite for attending live events again?
We’ll delve into that in this and uncover some of the factors at play.
Why are Live Events Coming Back Stronger Than Ever?
As we’ve mentioned, live events have made a strong comeback in recent years. Event goers are chomping at the bit to attend new and exciting events, as well as their trusted favourites, coming up for the spring/summer season.
Although there is no singular reasoning for all of this happening, a few key insights can be highlighted.
The Rise of Hybrid Events
Hybrid events are designed to drive maximum engagement and action from its attendees whether they are there virtually or in-person. While hybrid events have been around for a while, their popularity and use have been accelerated in recent years, and they are becoming more popular.
A study by Skift Meetings revealed that 71% of event organisers wanted to keep some sort of virtual element to their in-person events. When you manage to retain this virtual element to your in-person events you’re opening up the door to potentially thousands more attendees.
A conference space is limited to a certain number of people, otherwise their experience could be hindered. But virtual attendees don’t need to physically be there to benefit from the event experience.
As hybrid events become more popular and the technology used becomes more advanced, it’s easy to see why live events sales will continue to rise.
People are Experiencing Webinar Fatigue
Webinar fatigue refers to the negative experience some people might get when they feel they attend too many webinars. Since 2020, the amount of virtual meetings and webinars people have attained has absolutely skyrocketed.
This unpreceded rise has started to affect people due to the sheer number of virtual meetings someone can attend in a day. Especially for those who worked in jobs where they would be attending in-person meetings on a daily basis.
With webinar fatigue being medically recognised there will be no doubt that in-person live events will benefit as a consequence. More people will crave that in-person experience.
Although, virtual events like webinars will not completely disappear. They have been around for a while and are here for the long term.
New Industries are Tapping into Live Events
As live events make their comeback, there are some industries that are now starting to see the benefits of hosting live events. The gaming industry is a prime example of this. Esports has risen in popularity so now there are many live events where people go and watch their favourite gamers play.
The tech industry has also seen a meteoric rise and they are cashing in massively on hosting live events.
By their very nature, tech companies have always been proponents of hosting virtual events. This allows them to maximise their audience attendees, but with hybrid events coming to the fold, tech giants are also utilising the in person experience also.
Music Concerts and Festivals Are In Demand
In 2020 music and festival organisers experienced a major disruption which brought the industry to its knees. Now as the world is recovering, the demand for live music events and festivals has gone through the roof.
In 2022, ticket sales for music festivals and concerts were predicted to be at an all time high. This managed to be the case, and in 2023 it is likely to be even higher.
Mintel even estimates that the music concert and festivals industry will reach a record high of £3.22 billion. These figures and statistics prove that it’s never been a better time to host live music events and festivals.
The Future Growth of Live Events
Judging by the data and general state of the live events industry the future seems really bright for event planners and industry professionals.
New technology is emerging all the time to make events even more interactive and engaging (and to make the operational side function with greater efficiency, too). This new technology will entice more people to join and attend live events whether it’s in person or in a virtual capacity.
Here at GALA PR we combine our ten plus years of live events experience with our creative and engaging campaigns to ensure your event is being seen by the right people.
We were established in 2020 so we have witnessed first hand the insatiable rise in demand for live events.
Contact us today and we can help promote your live event successfully to drive home brand awareness, generate hype, create talkability and sell tickets.