Events and Trade Show Organizers Call on Federal Government for Relief

Out of the carnage of the Great Recession a decade ago, face-to-face events emerged as an increasingly attractive revenue source for media companies, a lifeline connecting buyers to sellers that seemed largely immune to the migration from print to digital and in many cases poised to benefit from, rather than be threatened by, advancements in data analytics and digital marketing. As recently as two weeks ago, most organizers were still evaluating whether to forge on with conferences or trade shows scheduled for March and April, fearful of sacrificing sponsor, exhibitor and attendee revenue that had grown to form an indispensable portion of their top lines. That decision was quickly made for them, and in a matter of days, a $16.4 billion U.S. B2B trade show market was put on ice indefinitely. This week, industry stakeholders are petitioning the federal government for relief. This week, in separate letters sent to Treasury Secretary Steven Mnuchin and the majority and minority leaders in both houses of Congress, the Software & Information Industry Association (SIIA) and the Professional Convention Management Association (PCMA) called for any stimulus benefits provided to the hospitality industry—which itself has been roiled by travel restrictions and event cancellations—to be extended to the events sector as well. "Events are a critical component of our nation’s economy. They provide opportunities for business partnerships as well as knowledge sharing and educational... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2020-03-27 16:58:59 UTC ]
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