The Event Industry is being confronted by its Napster moment

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All types of business events are in danger of their revenue streams of tickets, sponsorships, memberships, and other types of fees being eroded. This is happening as the world gets used to digital formats and alternatives emerge to physical networking, matchmaking, and other tasks we get out of these events. The threat sounds familiar?

 

I won’t bury the headline: the vast, global events industry is going through its Napster moment through this pandemic, and is in denial on what this will do to it.

Everything about the underlying economics of this sprawling, diverse, chaotic and highly profitable sector is being undercut by the move to virtual, and 2019 may be the year where the industry’s revenues peaked. This year could be the event industry’s 2000 moment à la what happened to the music industry.

I was there during the music industry’s Napster moment in late ’90s, a cub reporter covering the vast promise of early internet, and wrote hundreds of stories about what happened to labels and the economic structure of music industry and music acts. I wrote about the atomization of the album into singles and the download boom with rise of Apple’s iTunes, and then the start of the streaming boom that led to Spotify and others since.

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Bitcoin is not only digital currency, it’s Napster for finance

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Bitcoin will start its transformation from a mere currency into an entire open-source.

Bitcoin’s valuation didn’t just skyrocket in 2013, but its infrastructure, services, and adoption exploded as well, culminating in recent announcements that major online retailer Overstock.com and NBA team the Sacramento Kings would accept the digital currency as payment.

 

 

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The Webby Awards Top 10 Most Influential Internet Moments of the Decade

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Craigslist expands outside San Francisco (2000)
In 2000, the free classifieds site broadened its reach outside of San Francisco into nine additional U.S. cities, sending chills down the spines of newspaper publishers everywhere. Today Craigslist serves free listings in more than 500 cities in 50 countries, serving as a model for no-frills business and community success and the catalyst for countless jobs, apartments, and just about anything else you can think of.

 

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Introducing the New and Improved “Good for You” Napster

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The “New” Napster is Ready For Serious Action

Remember Napster, the totally illegal file-sharing program turned legal music subscription site? Yeah, neither did we (or at least we chose not to), until today, when it it launched a music store with 6 million DRM-free tracks for sale at competitive prices (i.e. MP3s at $1 per song). Previously, Napster had been selling songs in the outrageously misnamed PlaysForSure format.

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