After months of adapting to connecting online, the virtual event has evolved well beyond just being a plan B. Organizers are now expected to find ways to create powerful and engaging events that take virtual audiences into account and command the same dollars that live events historically have. “It’s going to take creative minds from the TV world, the theatrical world, and the experiential that is highly produced and warrants people to pay for it,” says Erica Boeke, founder and CEO of Liberty and Co., an experiential agency.
After quarantine orders are lifted, organizers will have to create engaging hybrid events that cater to both physical and digital audiences, altering the way we connect to one another and share experiences, and creating new revenue streams. “Organizers need to diversify,” says Don Neal, Founder of 360 Live Media, a marketing agency that specializes in live and virtual events. “Some that we work with, sometimes up to 70% of their income portfolio comes from their live annual gathering,” he says.