Expectations & Opportunities for Live Events in 2021 and Beyond

It’s not a question of if the pandemic changed the live-event industry, it’s a question of how. And what are the best ways to bounce back? We’re all painfully aware of the damage this industry experienced from COVID-19...but what will you do now?

Data from Bauer Entertainment Marketing’s Return to Live Events Survey has uncovered the good, the bad, and the HUGE opportunities emerging for live-event promotion and production in 2021 and beyond.

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Our data, collected from March 17-31st, comes straight from the source. The majority of our survey respondents work within the music industry (55%), performing arts (17%), sports (11%), and general event production/marketing (17%). So the insights we’re sharing are valuable, reliable, and actionable.

THE CONTINUED GROWTH OF DIGITAL MARKETING CHANNELS

Email marketing, as well as Facebook and Instagram posts and ads, continues to be the cornerstone of live-event promotion. Over 74% of survey respondents reported consistent usage of these channels since the pandemic began. Not only were these channels the most heavily used, but they were also considered the most effective among all marketing channels.

However, “effectiveness” is a relative term - are these three digital marketing platforms really more effective? Or is the live-event industry simply more knowledgeable about them? There are numerous other untapped digital marketing channels for which this industry sees potential but has yet to master. The four marketing channels respondents most wanted to gain proficiency in include:

Google Ads (57%)
TikTok (44%)
Influencer Advertising (38%)
YouTube (34%)

Based on these results, perhaps the key to creating a competitive advantage in this industry is choosing the road less traveled.

FAN EXPERIENCE: THE IMPACT OF COVID & EXPERIENCE MAXIMIZATION IN 2021

Projected fan experience offerings in 2021:

34% projected a decrease in artist meet & greets
31% projected a decrease in pit tickets being offered
20% projected a decrease in backstage interviews

Fans have long coveted unique, personalized, VIP experiences at live events. With the expected impacts of the pandemic on traditional fan-experience enhancers, live-event promoters and producers will have to use new, innovative ways to maximize fan satisfaction. Although COVID constraints have limited how we typically approach fan experience, this industry can and should leverage unique circumstances to offer innovative solutions such as:

Reserved/VIP table seating at live events
Reimagined pit sales as pod spaces instead of GA
Hybrid virtual and live events to maximize reach
App enhancement and improved user interfaces (reduced physical brochures/handouts)
Increased convenience through mobile ticketing and cashless payments

THE SILVER LINING: OPPORTUNITIES FOR GROWTH

As difficult as 2020 was for the live-event industry, it has forced the entertainment world to identify areas for growth, incremental revenue streams, and audience maximization. These solutions aren’t just for overcoming short-term hurdles such as COVID-19 restrictions; they’re also strategies that can enhance your production, promotion, and profit.

Reimagined sponsorship activations. 58% of the live-event industry expressed concern about selling sponsorships as we emerge from the pandemic, and 49% expressed concern about effectively activating them. So, how exactly has COVID created new opportunities for innovative and fruitful sponsorships?

Increased virtual activations. The live-event industry has massively increased digital utilization during the pandemic. 95% of the industry reports sole or predominant use of virtual marketing since the pandemic began, and plans to continue doing so. It’s important for live events to leverage the power of their expanded digital following to generate brand partnerships and sponsorship opportunities. Whether it’s a sponsored live stream, social media series, or virtual behind the scenes... the opportunity to monetize digital campaigns is real and ready to be pursued.
Touchless ticketing systems. As mobile ticketing and touchless entry become more predominant, opportunities to brand screen space and the check-in experience present a new platform to activate sponsorships. Better yet, the mandatory nature of event entry provides uniquely guaranteed and precise audience reach.
Branded sanitizer/PPE giveaways. Required COVID precautions may seem costly and daunting at first glance, but in actuality, live events can harness the high visibility of PPE as a new tactic for brand partnership activation. After all, fans can’t interact at a live event without seeing each other’s masks, thus, providing guaranteed impressions for brands.

New revenue streams. During the pandemic, 38% of respondents generated new revenue streams. According to survey results, the following recommendations present the live-event industry with the means to thrive, regardless of future conditions.

Online merchandise sales
Podcasting and BTS content
Live streaming and monetized virtual events
Private virtual shows
Drive-in shows
Virtual sponsorship activations

Ultimately, BEM’s Return to Live Events Survey reveals that the pandemic, although deeply painful for this industry, was not the death of it. Instead, this challenge has given birth to a new, vibrant generation of live-event marketing and production.