The internet has shrunk the world faster than any other technology known to man. Forget the aeroplane or the telephone, for making information move at its fastest ever pace the web is simply unbeatable. Something happens in Japan? Anyone connected to the internet knows about it practically before the event has finished, no matter where they are. For those in the world of event management the internet and social media platforms have made promoting an event better than ever, with unparalleled reach. But once the crowds have been drawn, what then? That’s where live streaming comes in.
Surely one of the best, and most obvious, aspects of live streaming an event is that it offers the chance for millions more people to “attend” your event than would be possible at the venue. All venues have a capacity, and even if this is in the tens of thousands it surely can’t hurt to have even more people involved. By live streaming the event you allow people all around the world to experience it, which increases brand awareness and excitement about your business.
Live streaming also opens up opportunities for more revenue generation. There’s a couple of approaches here. You could charge people for access to the live stream. After all you’re most likely charging attendees who turn up in person, so it wouldn’t be a shock to anyone to charge a fee for access to your live stream. But be mindful of how the internet has changed people’s expectations of free content. It might make more sense for you to offer the live stream for free, and open up your business to potential new clients and see it as more of a “soft” revenue generator.
Despite the availability of live streaming, it isn’t as common as you might think, so one way to view it is as an added value to your event. Anything that makes your event that little bit different to competitors, or makes punters feel they are getting something extra, is a good thing. And remember that anything that makes your event stand out means that more people will talk about it online, and that will drive more people towards it
One thing to bear in mind though is that live streaming an event isn’t cheap. So far it’s been mainly the big guns that have taken advantage of the possibilities, like Pepsi, Apple and the like. But if one thing is certain with technology it’s that it becomes cheaper and more accessible over time, and this is now being seen in the live streaming field with increasing numbers of event management companies offering live streaming solutions. With all this technology at your fingertips event management has never been more exciting, or more powerful.