Friday, November 07, 2014

UBM unveils “Events First” strategy

News this week: Earlier this week, U.K.-based media group, UBM plc, announced an “Events First” strategy to focus the company’s resources on its largest and most profitable shows for the next three to five years. The company targets to grow events-related revenues ahead of global GDP to provide for expansions over the medium term.

According to UBM, the company’s top 100 shows by revenue generated more than 96% of earnings before interest, taxes and amortisation (EBITA) for its events business in 2013. The company plans to invest US$40 million to US$80 million annually to acquire events businesses.

Tim Cobbold, chief executive of UBM, commented, “Events First recognises that the Events industry is a highly attractive, growing, global industry in which UBM is already a leading player… We will focus on our clear priorities: applying our resources to grow our largest and most profitable shows; effecting a step change in the efficiency and effectiveness of our operational performance; and investing in customer insight to enhance their event experience.”

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