Bloomberg Media tests charging for virtual events
Bloomberg Media is now experimenting with charging for its online events, writes Sara Guaglione of Digiday.
Guaglione reports, “Like other publishers that sought a lifeline as the Covid-19 pandemic enforced stay-at-home orders, Bloomberg Media began offering virtual events in March of last year, but were free to attend to keep its captured audience engaged, in addition to the ad inventory that came along with it. The company is now experimenting with ways to take its virtual events strategy to the next level, as the vaccine rollout continues and a return to in-person events draws nearer.
“The point of a ‘freemium’ model — or one that includes a free offering as well as a paid one for access to additional features — is not to replace Bloomberg Media’s sponsor-driven events business, but is seen as a growth tactic, said Patrick Garrigan, global head of Bloomberg Live. It is an opportunity to bring audiences closer to Bloomberg’s content, journalists and stories — virtually right now, but eventually in-person too, he added. It can also drive subscriptions.
“Bloomberg Media began testing paid event tiers with its annual ‘The Year Ahead’ event, held Jan 26-28. The company gave attendees three options: register for free to access live main stage sessions and Q&As, or sign up for one of two paid offerings.”
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