Industry News: Events & Entertainment

Global Events Industry Bounces Back The events industry is staging a comeback, with in-person events surging after a two-year hiatus due to the pandemic. According to a report by Allied Market Research, the global events industry is expected to reach $1,552.9 billion by 2028, growing at a CAGR of 10.3% from 2021 to 2028. Major event organizers are optimistic about the return of large-scale events, with many planning for capacity crowds in the coming months.

Virtual Events here to Stay While in-person events are making a comeback, virtual events are here to stay. A survey by Bizzabo found that 75% of event organizers plan to continue hosting virtual events post-pandemic. Hybrid events, which combine in-person and virtual elements, are also gaining traction, with 69% of organizers planning to host them in the future.

Streaming Services in Mergers & Acquisitions Frenzy The entertainment industry is witnessing a wave of mergers and acquisitions among streaming services. In a major deal, Amazon acquired the rights to stream the upcoming "Lord of the Rings" series, spending a reported $250 million for the global streaming rights. Meanwhile, Apple is reportedly in talks to acquire the rights to stream a new "Friday Night Lights" series, further cementing its position in the streaming wars.