(Entertainment-NewsWire.com, November 12, 2013 ) London, UK -- Media companies are increasingly turning to conferences to attract consumers and boost profits, according to a new report by the New York Times. Companies such as the Wall Street Journal, Huffington Post, Atlantic Media, and Cosmopolitan also hope to use conferences to extend their brand.
“Everyone is getting into the game,” Ned Desmond, Chief Operating Officer of TechCrunch, told the Times, “because it is a good business, and it definitely has better margins, when done right, than the regular equation of journalism and writing.”
The decline of print journalism revenues has helped spark the trend, the Times reports. According to data from the Newspaper Association of America and Huber Research, advertising revenue dropped 55 percent between 2006 and 2012. Journalism outlets are using conferences to expand the concept of what it means to be a news organization, said Thomas Rosenstiel, Executive Director of the American Press Institute, an organization studying the events industry’s profitability.
“The question is, What is the fundamental purpose the news organization plays for its community?” Rosentiel told the Times. “And the modern answer is that news organizations create knowledge for their communities, and you can do that in a lot of different ways. Events are another way of bringing people together.”
Ms West from Park Crescent Conference Centres said, “it is no surprise that media companies are holding more and more conferences, since such events have long been a productive way to bring industry representatives and the public together. Through conferences, attendees can share knowledge, build connections, and promote awareness of relevant brands.”
“This trend of media-sponsored events just demonstrates the power of conferences with consumers,” Ms West said. “You can see more media companies embracing this trend because it not only helps bring in income, but helps promote their brand as well. Done right, conferences can be a very powerful tool.”
'About' section: Located in central London, opposite Regents Park, Park Crescent Conference Centre (PCCC) is ideally suited for conferences, exhibitions and training as well as having smaller spaces for break out and seminar rooms.