Media News

Forbes seeing 60% increase in events revenue

October 17, 2022

Posted by Chris Roush

Forbes is on pace to increase its events revenue in 2022 by 60%, according to chief sales and marketing officer Sherry Phillips. Event partnerships now represent 35% of Forbes’ total advertising revenue, reports Mark Stenberg of Adweek.

Stenberg writes, “The publisher is on pace to host close to 90 events this year, split almost evenly between editorial tentpoles and custom activations for clients. The number represents a slight decline from the 97 events it hosted in 2021, but the discrepancy between volume and revenue reflects the high earning potential of hybrid events compared to virtual ones.

“‘We’ve been able to build on the legacy of our tentpole events and events that ladder back to our communities at Forbes, as well as really grow out our custom business,’ Phillips said.

“Forbes’ success with the hybrid model offers a compelling data point in publishers’ ongoing efforts to determine how best to balance their experiential portfolio in the wake of the pandemic. Some publishers have opted to nix hybrid entirely, while others have increased their number of in-person offerings in response to demand.

“Forbes’ newly refurbished custom New York space, Forbes on Fifth, provides it with several logistical advantages that simplify the economic calculus of hybrid events.”

Read more here.

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