In spring 2021, it had been hard to assume exactly what the near future would appear to be for publishers revenues particularly when it found events. But events have finally begun to rebound, giving publishers a chance to rebuild that section of their business.
Digiday+ Research surveyed publisher professionals to take stock of publishers events businesses, especially as attitudes about attending events and the potential revenues connected with them shift dramatically.
As it happens that more publishers are receiving a large part of their revenue from events than these were half a year ago: Earlier this winter, only 9% of respondents to Digidays survey said events drive a big chunk of these revenue. That number jumped to 18% come early july. Meanwhile, the percentage of publishers who said none of these revenue originates from events fell from 37% to 29% on the same period. And a substantial amount of publishers 38%, to be exact are receiving at least a little part of their revenue from events.
Digidays survey also discovered that the chance that publishers events revenue will grow a lot more in the coming months is high: 40% of respondents said building their events business is a large focus within the next half a year, up significantly from 29% in the wintertime. Simultaneously, the percentage of publishers who said they wont focus at all on building their events business within the next half a year fell from nearly a third half a year ago to significantly less than a quarter come early july.
As it happens this shift includes justification: Digidays survey discovered that folks are back out at events. Half a year ago, only 14% of publisher pros said that they had attended an in-person business conference or event during the past month. Come early july, that number jumped to 36%. And its own safe to state that increase is section of a substantial trend, due to the fact in spring 2021 only 3% of respondents to Digidays survey said that they had attended this event previously month.
Meanwhile, the percentage of publisher pros who said they havent attended an in-person conference or business event plummeted on the same period. In spring 2021, an impressive 87% of respondents to Digidays survey said they hadnt gone to this event previously year. Come early july, only about 25 % of respondents said exactly the same.
So when an economic depression approaches, publishers banking on events is probable an excellent business move, Digidays survey found. In spring 2021, only 7% of respondents said these were ready to attend an in-person business conference or event within the next month. That number was around 42% half a year ago and increased even more to 64% come early july. If this trend continues, publishers that spend money on their events business could open themselves up to potentially lucrative revenue stream at a crucial time.