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Interesting movements on the business side of leisure spending. It looks like TAIT , with its background in live events, has set a trend in taking over themed entertainment businesses. TAIT recently bought two design companies: ITEC Entertainment (A TAIT Company) and Thinkwell Group (A TAIT Company). Now the worlds largest live event comapny Live Nation Entertainment takes a majority stake in SANDS HERITAGE LTD and by that becomes the owner of Dreamland Margate, a seaside amusement park in the UK. The reality is that this theme park has long been known for the many concerts it hosts, which makes the acquisition more logical. But personally, I think there is a trend going on where local entertainment venues and live events will increasingly merge in the coming years. https://lnkd.in/eT7qrspf

Live Nation is aggressively taking control of the festival market. In its latest move, it purchased Dreamland in Margate, a 15,000 cap amusement park turned live venue which is licensed to host up to 40 events per year. As venues struggle to stay open due to rising operating costs and the cost of living crisis, cash-rich live event operator Live Nation has space to take the advantage. Buy purchasing festival sites, it controls pricing, ticketing, event promotion and now the venue - deepening its power in the live events market. Live Nation owns Ticketmaster, which in October 2023 introduced surge ticket pricing. Surge pricing is where the price of a ticket increases according to demand - like budget airfares do but in this case more extremely. This means that fans will end up spending their already impacted entertainment budget in far fewer places. Buying up flagship venues and festivals, whilst also controlling how entertainment budgets are spent, is an audacious strategy. Independent live-event service providers will find it tough to survive in this marketplace. And there’s likely further acquisitions and market consolidation to come. If core small events and venues aren’t supported it will lead to fewer intimate gigs in venues and fewer spaces for new talent and seed musicians to emerge. #livemusic #festivals #musicindustry #musicindustrynews #livenation

Behind the Scenes: The Unsung Heroes of Entertainment Facility Maintenance When we think about the entertainment industry, the glitter and glamor of on-screen performances, the exhilaration of live concerts, or the immersive experience of theme parks often come to mind. However, seldom do we pause to consider the intricate machinery operating behind the scenes, ensuring our entertainment experiences are seamless, safe, and spectacular. Central to this are the unsung heroes of entertainment facility maintenance. # # # # # # # # # #

The future of marketing is in building spaces. These can be virtual spaces. These can be temporary physical spaces (in-person events). These can be permanent physical spaces. The one thing they all have in common is this: It's no longer about flashing an ad in front of people and hoping it catches their attention. It's about bringing customers and potential customers together in a space where they can connect with each other.

Beyonce made $24M for a 1-hour concert in Dubai It's an open secret that the Middle East has been paying top dollars for international superstars to perform on their turf. Beyonce sang for an hour at the ultra-ritzy Atlantis the Royal Hotel, Dubai in 2023 and pocketed $26M- Queen clearly knows how to bring top dollar for her work 🤑 The biggest artists knows their game 🎯 But have you wondered how much revenue, net profits the promoter can squeeze in a single night? I went to Coca-Cola Arena this weekend for a Shaan concert with a seating capacity of 17,000. The ticket varied from AED 120-500 Let's assume the distribution as: 30% of tickets sold at AED 120 30% of tickets sold at AED 250 30% of tickets sold at AED 400 10% of tickets sold at AED 500 Total Potential Revenue with 15,000 tickets sold (as it was not a full house): Revenue = 540,000 + 1,125,000 + 1,800,000 + 750,000 = AED 4.2M There are certainly high expectations of the fans in terms of the experience they want so let's look at cost Estimation: Artist Fees (Shaan and team): AED 500,000 - AED 1,000,000 Venue Rental Cost: AED 300,000 - AED 500,000 Production Costs (Lighting, sound, stage setup): AED 200,000 - AED 400,000 Marketing and Promotion: AED 150,000 - AED 300,000 Staff and Security: AED 100,000 - AED 150,000 Miscellaneous (Licensing, permits, hospitality): AED 50,000 - AED 100,000 Public Performance Royalties: AED 126,450 (small % of gross) So the total cost will come out between ~AED 2M-2.5M Despite reduced ticket sales and royalty costs, the concert still boasts a solid profit potential, netting between 1.5 million AED and 2.7 million AED (50%+ net profit)—proving its strong business viability. Imagine the scale and money involved when stadiums are sold out 😱 Meanwhile, performers are often offered a guarantee, making the performance risk-free as they will be offered a set fee regardless of whether the show sells out, with the promoter shouldering any losses. Isn't that a win-win? You can also win and understand how big are the TAM (total addressable market) digitally, and how to launch your brand globally. Book a slot with me today: https://lnkd.in/dT3Dc79r Who am I? Parichay Tayal -8years+ experienced Digital Marketing Consultant based in UAE | Ex- Noon, Zomato #concert #colacolaarena #revenue #marketing

Another brand opens a venue. I did not see this coming. Netflix has just announced ‘Netflix House’, a dedicated venue to watch your favorite shows. And experience popular sets replicas. The trend is clear. After owned events and pop-up venues, companies look into owned spaces where fans can experience the brand. The announcement comes a few days after Zoom launched a showroom where enterprise customers could experience the brand. From booths to venues Some companies spend multimillion-dollar budgets in booths at shows like Cannes Lions and SXSW for their presences. If you consider the SK experience at CES - with a mini sphere and a whole theme park, it makes sense to invest in permanent installations. What’s your feeling on the rise of brand-owned venues? P.S. if you liked this post, you are gonna love my free newsletter - 15k eventprofs signed up -> https://lnkd.in/gtGXp27i

As someone with extensive experience producing events at the Sundance Film Festival, I've analyzed the list of finalists to host the festival and identified several drawbacks for each potential location: 🔸 Atlanta, GA: While convenient for travel as a Delta hub, the city's size may diminish the Sundance Institute's influence. Safety concerns due to a high crime rate also raise questions about festival security measures. 🔸 Boulder, CO: Despite having multi-screen movie houses, the city lacks proximity to ski resorts, a key appeal of Park City. The small-town vibe in Park City facilitated productive networking and leisure activities for film industry professionals. 🔸 Cincinnati, OH: Facing challenges similar to Atlanta as a large city, Cincinnati may struggle to provide the intimate atmosphere that defines the Sundance experience. 🔸 Louisville, KY: Like Cincinnati, Louisville's urban setting may not align with the festival's needs. Unless they move the film festival to be before or after events like the Kentucky Derby, its appeal compared to Park City remains questionable. 🔸 Santa Fe, NM: A strong contender, Santa Fe offers proximity to ski resorts, a smaller town atmosphere conducive to Sundance's vision, and cost-effective housing options. 🔸 Park City, UT: Despite some complexities and controversies, Park City's long-standing commitment to the festival, infrastructure, and strategic advantages make it a tough competitor to beat. They are willing to do the Sundance Institute's bidding, even if it results in them defending lawsuits. However, the cost of housing in Park City, and the cost of producing events even for official sponsors, make it less desireable. Each location presents unique challenges and opportunities for hosting the Sundance Film Festival. The decision will undoubtedly hinge on factors like logistics, atmosphere, and alignment with the festival's core values. Would Sundance change the dates of the festival depending on the location? Many of these finalists would be a better experience in the spring or fall. #SundanceFilmFestival #EventProduction #FilmIndustry

This was expected considering the recent developments. Now, Let me guess the next possible location for #MSGSphere - #UAE or #SaudiArabia or #SouthKorea, The land of the K-Pop?

Organising an event is easy - isn't it? Surely I can cut costs by reducing the creative and production? I tend to disagree with both of the above questions. A strong creative concept supported by a hands-on Creative Director is the backbone of any successful event. It provides a clear thread and when executed well, a creative concept can deliver a remarkable and immersive experience that resonates with attendees. The recent Bridgerton-themed ball flop in Detroit serves as a stark reminder of the consequences when creative concepts are overlooked in event planning. Despite promising a glamorous evening reminiscent of the hit Netflix series, the event was plagued by issues ranging from poor decor and undercooked food to a lack of entertainment. The result was a disappointed crowd and a viral backlash. May this be another reminder to those trying to cut costs on Creative concepts.    https://lnkd.in/eB9jzHzd     #eventplanning #creativeconcepts #eventfail 

Discovering the right time and approach to offer discounts for your balloon entertainment service is key. In this blog post, I'll guide you through all the details. This is a continuation of the last blog post talking about pricing. https://lnkd.in/gzQkcg6q