This technology transformation in the event and meeting industry also leads to new revenue streams for convention centers*:
- Expanded, enhanced meeting / conference spaces and services
- Enhanced, improved AV services
- Enhanced, improved telecommunications and IT services
- Advertising and signage income
- Upgraded F&B, catering
- Hosting cultural exhibitions, entertainment and sporting events
- Partnering to launch events, share risk
- Changing pricing, package plans, value added
Event managers are looking to raise the bar and enhance the attendee and exhibitor experience through video streaming, virtual meetings, hybrid events and more, Hughes said. Conventions centers need to work with clients to help their events not only impress the attendees on site, but raise awareness to those who were unable to attend and add value once the event is over.
Hughes drove home the point, "how can venues help event producers develop and manage the recent content explosion?"
Let's Chat: What is your venue doing to adapt to the current technology needs of event producers?
*Data from Red 7 Media Research & Consulting