#Axios is another example of a media company pivoting towards #events to escape from the #AI fallout. I think almost all media companies in the future would tie events to generate a large part of their revenues.
This is not something new. A lot of media companies have been organizing events for a very long time after being disrupted by the internet, followed by social media.
Most of them were on their last legs and are less prepared to face the Gen #AI tsunami. So this time, it's existential. One can expect a good fight to try and turn the corner.
I foresee events becoming a flywheel in their business strategy. A way to bring their journalism to life, on stage or screens.
Hiring event professionals to run the show. There would be budgets, financial targets, and accountability.
In return, customers would get, and I quote #Axios CEO, "...to focus on delivering journalistic expertise, trusted content, and in-person human connection."
Sounds familiar😊
The question everyone should be asking is where it would leave pure-play organizers when media companies bring their journalistic credibility -- some may claim -- to the table.
If it's still business as usual, then there is a possibility of transpiring one or two things: 1) media companies outcompete pure-play organizers with better content and reach, 2) with the right bundling strategy, media companies grab the larger share of the events pie.
In both cases, media companies will be highly likely to eat the lunch of pure-play organizers.
It's time for organizers -- #tradefairs and #conferences -- to get back to the drawing board and start planning their next move.
#meetinindia #eventprofs #digitalindia
PS: What matters in Business Events? What’s going on, what might it mean, and what will happen next? I’ve spent over 14 years analyzing and working on Business events. Mostly, that means partnering with senior business leaders from the events industry to unlock value.
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