Live events can be a vital pillar of a media business’ revenue strategy. They provide unparalleled sponsorship opportunities, direct revenue through ticket sales, and the content can often be repackaged and repurposed elsewhere after the fact. As an example, Atlantic Media’s events wing now accounts for over 20% of the business’ overall revenue. 

However live events are often an expression of the “soft power” of a media brand. They act as a statement of the company’s influence, whether through big name sponsors and celebrities that attend, or by effectively setting the agenda for the industry through insight and expertise. They are a demonstration of the media company’s relevance for both its audience and potential commercial partners, whether B2C or B2B.

It is no surprise, then, that events remain a priority for many media businesses. However, while they are a source of revenue unto themselves, they are also being employed to support other revenue streams, including subscriptions.

Events and subscription marketing

Live events – especially the flagship conferences and exhibitions held by consumer titles – are exclusive by nature. While their content is often repackaged in article or video form, there is a cachet in attending them in-person and rubbing shoulders with celebrities and peers.

That exclusive nature is therefore being used by savvy subscription- or membership-focused media businesses. Access to those events is desirable, and is being used in subscription marketing material throughout the funnel. The Guardian, for example, offers its members discounted tickets to events at its owned-and-operated live events space in London, a physical benefit in addition to its central message of supporting its journalism.

However, events can support subscription growth as well. Anna Bross, SVP Communications for The Atlantic explains that, “Access to our events is a selling point from the first welcome and onboarding for our subscribers. We also market subscriptions in tandem with our events: ‘become a subscriber to unlock the full breadth of our journalism’.”

“The Atlantic has focused on exclusive events benefits for subscribers, particularly for our flagship event The Atlantic Festival: things like early access to ticket sales; subscriber-only event moments; and discounts. We have also produced subscriber-only virtual events.”

Brad Greenawalt, Vice President of Subscriptions at Hearst Magazines, notes that the appeal of live events can be used throughout the funnel when it comes to converting readers. “We view live events as an opportunity across the funnel. It can be a great audience expansion opportunity, getting new audiences closer to the brand and experience, as well as a lower funnel strategy for more niche premium subscription events. 

“Live events are a key selling point for our premium memberships and help drive subscriber conversion and retention.” He cites the UK’s ELLE Collective’s Beauty Masterclasses and GoodHousekeeping’s VIP membership Book Club conversations with authors as some of the events that work especially well for its subscription-oriented publications.

In line with the ongoing trend towards making access to journalists a selling point for subscriptions, live events are also being used and marketed as a way to speak to those journalists in-person. Every organization spoken to for this article mentioned that live events are being used to deepen engagement by way of connecting subscribers with the journalists whose content they consume.

Dow Jones’ VP, Leadership and Event Marketing Laura Verklin said that “Audiences used to be dependent on news organizations for access to information. Now that information is somewhat of a commodity but reliability is the differentiator. Our events allow us to foster a deep sense of trust and transparency with our audience by allowing them to engage and interact directly with reporters and editors while they’re on stage with global decision makers. It underscores the Journal’s editorial integrity and access to global leaders shaping our future.”

Superfans and creating touchpoints

The rule of thumb is that it is far easier (and, crucially, cheaper) to prevent a subscriber from churning than it is to convert a new reader to a subscriber. As a result, events are being considered as a major means of developing the relationship between publication and their readers to a degree where they will pay to support its mission. 

More than half (63%) of audience members who complete post-event surveys for the Guardian, for example, say they are more likely to financially support the Guardian after attending one of its events. 

A Guardian spokesperson explained that is due in part to using the live events to showcase the Guardian’s unique selling points during the event, which in turn supports those same messages in its membership marketing materials: “Our audiences appreciate the opportunity to ask their questions to our journalists and guests to feel closer to our journalism. It is also a great opportunity to showcase the human element of Guardian journalism in contrast to the rise of AI-generated content.”

Greenawalt also cites post-event feedback as being a significant source of audience information. The team uses the insights provided to tinker with and inform future events and other marketing strategies.

Bross explains that “Hyper-engaged subscribers are more likely to attend events. But those who attend events, whether hyper-engaged or not, are less likely to churn than those who do not attend events. Ultimately, we utilize our experiences to strengthen the perceived value of a subscription, deepen brand affinity with The Atlantic and give our subscribers unique access to our journalists and journalism.”

Creating events for new subscribers

However, that isn’t to say that events are aimed at or even solely marketed towards “superfans.” While these highly-engaged audience members are often the most lucrative for consumer brands, they are also touchpoints for new potential members. Publications are creating events with those new members in mind. The Guardian spokesperson explains that “It depends on the event. It is true that many of our supporters who frequently read the Guardian attend our events. Different speakers and topics also attract different audiences.”

That considered, curated approach is as important for information-based publications, which are predicated on appealing to very specific audiences. Verklin explains that “Exclusive access to our live events is a key differentiator when we market a subscription or membership to one of our C-Suite communities. These moments of in-person connection help deepen trust in the brand and create tangible value that differentiates a premium subscription from more transactional options.”

So as with trial memberships or limited access to some content on a timed basis, events are being created as a ‘lure’ for potential subscribers. Greenawalt says: “Although events draw in highly engaged members, we’ve also found success using it for our new audiences as well. Our newest membership, Veranda Gold Design Society, offered members the opportunity to go on an exclusive tour at the Kips Bay Decorator Show House in Palm Beach with Editor-in-Chief Steele Marcoux earlier this year.“

Event strategy and subscription marketing strategies, then, are becoming more intertwined. Each is being used to support the other, with discounted tickets or exclusive access being used to demonstrate the value of a subscription throughout the funnel.