How The Current Impacts Affect The Events Industry?

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Keeping up to date with the current impacts affecting the Events Industry is crucial to successful events. According to Bowdin et al (2011), he believes it is essential to have an up to date awareness of the ever changing trends affecting the wider community as these trends will in turn influence the operating environments for events. The current significant trends which have already had a large impact on the events industry and continue to do so are technology and social media. These are both dominated by generation Y referred to by Bowdin et al (2011, p. 395) as ‘Digital Natives’. Generation Y have also been described by Beech, Kaiser and Kaspar (2014, p. 63) as ‘currently the fastest growing cohort in the working population’. There are …show more content…

Goldblatt (2000, p. 3) predicted ‘with the advance of technology, individuals are seeking more “high touch” experiences to balance the high tech influences in their lives’. In October 2017, Facebook launched their VR app Oculus Venues which will be used to watch several events from anywhere in the world. Solaris (2017) believes event attendance through VR will be the biggest change in the events industry. He considered this as ‘A way to capitalize on those that cannot attend events’. Samsung Gear VR launched a new pay per view revenue stream in March 2017. They will be streaming NCAA March Madness’ 6 final games in full VR using multiple camera angles and special commentary at a specific price. Although it’s hard to estimate how many viewers there will be, (EventMB 2017) have estimated there are at least 5 million Gear VR headsets already sold which goes to show the popularity with consumers. (EventMB 2017) also state ‘several sports and music events have already made use of VR as a tool for bringing an immersive experience to remote viewers’. Technology advancements have recently been on a hasty rise. Similarly, the developments and influence of social media have also been rapidly progressing. Social media is described by Martin and Cazarré (2016) as ‘any communication platform, used by Internet-based technologies and for any hardware platforms that enable their users to exchange information at any given time and place’. Some of the most

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