NAICS 7113 - Promoters of Performing Arts, Sports, and Similar Events
This industry comprises establishments primarily engaged in (1) organizing, promoting, and/or managing live performing arts productions, sports events, and similar events, such as state fairs, county fairs, agricultural fairs, concerts, and festivals, held in facilities that they manage and operate and/or (2) managing and providing the staff to operate arenas, stadiums, theaters, or other related facilities for rent to other promoters.
Industry trends:
Currently, the Promoters of Performing Arts, Sports, and Similar Events industry (NAICS 7113) is witnessing significant trends driven by technological advancements and evolving consumer preferences. One of the dominant trends is the increasing integration of virtual and augmented reality experiences. This is allowing event promoters to offer hybrid events that combine in-person and virtual experiences, thereby expanding their reach and audience engagement.
Another notable trend is the growing importance of data analytics. Promoters are leveraging data to understand audience behavior and preferences, enabling more personalized marketing strategies and improving ticket sales forecasting. Furthermore, sustainability is becoming a key focus, with many promoters adopting eco-friendly practices and venues to align with the growing consumer demand for environmentally responsible events.
Looking ahead, we can expect continued growth in hybrid event models as technology improves and becomes more accessible. The use of blockchain technology for ticketing and rights management is likely to increase, enhancing security and transparency. Additionally, the industry may see a rise in smaller, niche events that cater to specific audiences, reflecting a shift towards more targeted and customized experiences.
This industry is comprised of:
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