How Can the Events Industry Recover?

Covid-19 has had a profound effect on almost every industry, including that of live events, conventions and industry events, which essentially vanished as quick as the pandemic began.

What is exceptionally important when faced with trying to kick start the events industry again is how we can eliminate or majorly reduce the risks these events carry with the spread of infection. For example, looking into virtual events and hybrid events alongside hosting outdoor events with social distancing measures in place when possible.  Can we convince people to attend events in person? Will virtual events have the same positive impact on business as they did at face-to-face industry events in the past? Will we see a decline in attendees?

The problem we’re facing with these questions is there are currently no answers, or at least no answers that are set in stone. Unfortunately, we are trying to find a set answer when there currently is none.

“Industry confidence is lacking for future events, so could virtual events be the answer? Not according to 44% of those surveyed who said that virtual trade shows and conferences could not provide the necessary value for time or information compared to a physical event, with 22% having never attended a virtual event.” – Reece Webb, Inavate.

As the new ‘rule of 6’ sets into place, this doesn’t bode well for the events industry. If things continue to get worse into the new year, it is highly unlikely we will see a return to normality in the events industry. This will have a chain reaction on various businesses who rely on the events industry to succeed, i.e. the Hotels, Restaurants, Travel Companies and Bars surrounding the areas of local events being held, right down to the drinks and food stalls involved in providing refreshments for event goers.

There is still a future for the events industry, it however seems that there will be a focus on live events turning virtual with virtual studios seen as the most likely place for hosting events in the Covid-19 era, providing flexibility for event organisers and an enhanced user experience that improves upon the traditional viewer  format of live streamed events.

It seems there will be a lot of variation in how these virtual events will be presented, various camera angles, lighting and different views of the event which essentially will provide a more exciting experience for the viewer.