RIBA - Conferences help to promote brands and raise profits in the Media Industry

Conferences remain powerful in their ability to promote brands, increase awareness and encourage sales.

26-01-2015 - UK - According to a new report by the New York Times, media companies are increasingly turning to conferences to attract consumers and boost profits.  Companies such as the Wall Street Journal, Atlantic Media, Huffington Post and Cosmopolitan all use conferences to extend their brand.

Ned Desmond, chief operating officer of TechCrunch, told the Times “everyone is getting into the game… because it is a good business, and it definitely has better margins, when done right, than the regular equation of journalism and writing.”

The decline of print journalism revenues has helped spark the trend, the Times reports. According to data from the Newspaper Association of America and Huber Research, advertising revenue dropped 55 percent between 2006 and 2012. Journalism outlets are using conferences to expand the concept of what it means to be a news organization, said Thomas Rosenstiel, executive director of the American Press Institute, an organization studying the events industry’s profitability

Rosentiel told the Times “what is the fundamental purpose the news organization plays for its community?” and he went on to say “the modern answer is that news organizations create knowledge for their communities, and you can do that in a lot of different ways. Events are another way of bringing people together.”

Stephanie Ellrott from RIBA Venues, who provide conference room hire in London, said “it is no surprise that media companies are holding more conferences as they have long been a productive way to bring industry representatives and the public together.” Ms Ellrott went on to say that, “attendees can share knowledge, build connections, and promote awareness of relevant brands.

This trend of media-sponsored events just demonstrates the power of conferences with consumers,” Ms West said. “You can see more media companies embracing this trend because it not only helps bring in income, but helps promote their brand as well. Done right, conferences can be a very powerful tool.”

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