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Many people have asked me about virtual large events and the new entrants in the space. I have a few thoughts I’ll share:
First of all, there is going to be significant short term demand as large IRL events are off for 18-24 months. Those event organizers need a place to go to replace those events.
However, this is likely only temporary. There surge back to IRL will be extremely strong on the rebound and i would need to know how strong those virtual platforms are around hybrid events- how compatible are they with the huge A/V companies that dominate event venues?
Focusing on virtual-only events, the big question surrounds the customer’s second event. They will inevitably require a completely new & customized experience for their attendees. Customization is why there are so many corpses in large event software.
The other key question is, “what’s the actual way that vendors will network with buyers in a large virtual event”. Getting this specific thing right is critical to build a large software business in this category. Organizers make most of their money from vendors, not attendees.
I do think you can get some of the audience engagement stuff right around “one-way” performances. And yes, you can do cool chat rooms and breakout sessions. But this is fairly commodity today. Large events must be awe-inspiring.
Overall, I am excited about what great founders will do in virtual large events to address these concerns. I’m here to help!
