The London tech event scene is booming but money isn’t pouring into the tank.
Tech professionals are not screen junkies. They congregate in person as never before.
London is hosting an exploding number of small and midsized tech events. In 2016 there were more than 800,000 attendees to over 10,000 events for tech professionals in the capital. This is another clear indication of London’s growing competitiveness as a global tech centre with more than 300,000 jobs and a £56 billion turnover. These are just some of the insights published, in the “The Big Potential of Small Events” – the first mapping ever of the London tech event scene – by Airfinity, an event data and insights provider. Airfinity’s analysis reveals that the majority of events are free and rely solely on sponsorship for revenue. But only around half of the events manage to secure monetary sponsorship.
Sponsorship – in the provision of free food, drinks and venues – is popular as a model but it means many events leave money on the table and both event organisers and sponsors fail to capture the maximum value of the audience. Despite more than 1,200 identified sponsors, Airfinity’s analysis indicates that the small and mid-sized events have significant revenue growth potential.
The current total sponsor revenue is around £5 million, but could more than triple if these small and mid-sized events optimised their efforts to partner with the right sponsors. Rasmus Bech Hansen, CEO and co-founder of Airfinity said: “Events are the heart of the tech community and this report shows that it is alive and kicking like never before. But there is still a lot of unfulfilled potential and the industry remains nascent. As an example, a myriad, of great events with attractive audiences go un-sponsored.
With no revenue, these events are probably not sustainable long term. It’s time for events and corporates to leverage the current momentum and take the tech event industry to the next level”.
Info: “The Big Potential of Small Events”
Release date: 3rd of April, 2017 Rasmus Bech Hansen, CEO of Airfinity
Phone: + 44 7703188600 [email protected] www.airfinity.com