Paddling up the revenue stream in a post pandemic world, presents challenges for the live sports and entertainment business, but there are also fresh possibilities.
As the industry explores ways to adapt to the new economy business leaders are exploiting NFTs via pricing and artist and consumer acceptance; building crypto sponsorship packages involving new contractual terms to protect the venue, artists and consumers; expanding tours internationally into new markets and venues; and groundbreaking venue partnerships in new categories, with visionary activations.
During the Global Footprint: Let’s Talk NFT’s, Crypto Sponsorships, Touring Expansion, and Venue Sponsorships panel, knowledgeable executives will explore these topics and more.
“These are times that require being adaptable and innovative,” said panelist Wesley Elizabeth Cullen, vice president of international venue development for Oak View Group. “I am looking forward to hearing perspectives around the balance of opportunity, risk, values, responsibility, and rapid change.”
The panel is moderated by Oak View Group International’s Brian Kabatznick, a 40-year veteran in ticketing (Ticketmaster) and venue development (AEG and OVG). He said there is not always agreement on how to achieve organizational goals, especially with NFTs.
“NFT revenue sharing among various stakeholders, as the obvious winner is (always) the artist,” he said. “But the food-chain will want to participate – ticket companies, promoters, venue, record companies, etcetera.”
Cullen hopes attendees will adopt a world view: “To think global and expand your possibilities. Raise your hand if interested in international – you only gain experience by getting started. There are so many new opportunities and you could be part of it.”
“We are a global industry with similar and different challenges,” added Kabatznick.
“Our industry exists to bring people together,” Cullen offered. “I specialize in bringing people together across cultures and geographies. From living on three continents before I was 10, to working on events all over the world, leading the arena in Puerto Rico and being in four countries last week, global is what I know best. When we look beyond our borders (of geography or in our minds), the opportunities are inspiring and immense.”