Event industry evolution
June 16th, 2022

Our lives are becoming more and more resemblant to a computer game, where every coming year new challenges emerge. No matter how the next level might look, it’s pretty obvious: nothing will stay the same. Every sphere, product or service will adapt to fit the new reality or, rather, augmented reality, along with blockchain, and machine learning. The event industry is trying to make the most of the situation seeking opportunities to offer their customers unique and technologically advanced solutions. 

In 2022, the black swan continues to hover over event organizers and does not allow them to plan for more than a month ahead. Predicting the future under such conditions is a thankless task. But we will try to think beyond the uncertainty of the current moment in order to see global trends of the event industry.

From Decentralization to Centralization and Back

Decentralization was the first trend that the event industry had to face during the pandemic. Along with large companies that produced high-end quality content, thousands of bloggers flooded YouTube, Instagram, TikTok, Discord and other digital platforms with disastrous shaking camera livestreams. The event industry displayed a similar dynamic tone with dead boring online meetups and a style of “Can u hear me? Your MIC is on mute”.

Ever since COVID restrictions loosened up, security and precautionary measures have remained the most important priorities in the organization of events. The audience starved for in-person gatherings, so institutions provided the safety guidelines for meetings and public events. For large companies and serious agencies, the safety of participants will always be a priority. Nevertheless, the cancellation rate made live events a challenging task so off+online collaborations proved to be the best solution. 

But how can you host thousands of participants online? Actually, with the current capabilities of YouTube or Zoom, this is quite easy. For instance, Microsoft 365 live event can support up to 20,000 attendees. Yet, it is much more difficult to raise the quality to the level of a professional TV broadcast. For example, if the quality of video on the air can be HD or even 4K, most viewers will not be able to receive the broadcast at an equally high level.  Nevertheless, these nuances will be addressed in the foreseeable future.

Business and Niche Events in the Spotlight

“Life, Liberty, and the Pursuit of the Future” - the USA Pavilion celebrated its theme statement at the luxurious Expo 2020 Dubai. The Thinkwell Group was selected by the U.S. Department of State to turnkey design and produce the U.S.A. pavilion promoting innovation and the post-COVID business events etiquette. The new comfort zone per guest amounted to140 square feet, which is 42 meters of personal space. The indicator has increased 10 times compared to the period before the pandemic. Without a doubt, outdoor activities do provide the highest degree of safety. But the pavilion case proves it can be as well achieved by means of combining concept development, impressive interactive technologies, and applicable interior design.

Providing participants with vast spaces is not the case for the venue created for The New York Times Climate Hub. In 2021, British designer Es Devlin placed rows of old wooden school chairs in the middle of the real forest, the temporary installation comprising 197 species of trees and plants. Its name “Conference of Trees” is a reference to the summit's full name, Conference of Parties 26, the COP26 climate conference in Glasgow. This is a bright example of how intimate indoor events can give guests an additional sense of comfort and exclusivity.

In search of a solution to the post-pandemic issues, agencies are looking for new suitable formats and reconsidering the old ones. As one can see, sometimes a niche event looks like a walk in the woods, not a summer festival, a corporate party with a guest star, or an online team building.  

What Will Save the Industry After COVID and Heavy Losses?

According to a survey and analysis by PCMA Convene editors, 87% of business events have been canceled as a result of the COVID-19 pandemic throughout 2020-2021. It is understandable why the statistics prove that virtual events are up 1000% over the last few months. However, online is not the only solution the event sphere can rely on. 

As aforesaid, flexibility, adaptability and ensuring Covid-free environment are the top factors that determine the look of the event industry for 2022. But the question how to evolve and even thrive in the post-COVID market?

  • Broadcast technology and video design development 

The social distancing caused by Covid resulted in the rise of broadcasting and the increasing number of studios, that can provide technological and digital platform solutions. Along with the development of broadcast technology, motion design is also striving to compensate for the sensory organs that are not involved in online communication. Video and sound are moving to VR, adding new objects to reality.

  • Cross-format solutions

Old tools are presenting new features. For instance, many webinar platforms have recently added new features for full-on conferences. Hence, we are witnessing the rise of a completely new direction of the event industry that has emerged at the junction of television production and event management. 

  • Web3 and decentralization 

This is how Web 3.0 will help the event industry, specifically with the alignment of Oaziz future plan. With decentralised platforms, users can be in total control of their data due to transparently building application architecture. Smart contract will validate each transaction making sure participants are paid in time, without keeping track of bookings, sending reminders, and invoices. With a system like this, every party will do the things that they love the most: organise, perform, or take part in events, while getting revenue enabled by the Oaziz attend-to-earn approach. Our decentralised platform also helps gain more control of the event, distribute profits, and optimize user acquisition.

The Takeaway

Without a doubt, the pandemic was the impetus for the development of the event industry. It works by completely different principles and laws than 2010’ offline events. Due to the volatility of the market, it is also important to have all the necessary resources within the agency, the one contractor that delivers it all. Hybrid format requires a certain set of skills, which makes the necessary expertise the new gold of the event industry 2.0.

Even in the hardest times, the evolved event sphere is an effective tool for developing and promoting business strategies in a sustainable and concious way. It will remain one of the main and most powerful engines of the global economy. For the industry as a whole, as well as for clients of event agencies, the new reality is not only a challenge, but also a new experience. We at Oaziz DAO closely follow trends applying them in our projects.

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