| NEWS 11.02.09 2:19 PM |
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Poll Results: 2010 Event Budgets Look Bigger
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Budgeting for the coming year is well under way, and planners seem to have good thoughts about what they'll be working with in 2010. In last week's poll, 41 percent of participants said they're expecting bigger budgets than they received in 2009, while another 33 percent think their budgets will be about the same. Fewer than 1 in 5 readers expect tighter budgets, and just 7 percent still aren't sure.
This week we'd like to gauge your feelings on invitations and which kinds feel most appropriate these days. Have your say in this week's poll, which is in the left column of the home page.
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Budgets |
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| NEWS 08.13.09 9:00 AM |
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After Months of Price Slashing, How Will Vendors Negotiate Post-Recession Contracts?
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 | Many planners—like Valerie Wang, who organized a recent event for KCET—have seen vendors sharply reduce prices in the recession.
Photo: Courtesy of KCET |
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As economists point to signs that the recession is beginning to ease, and the event industry looks to the approaching fall season—usually a busy time—planners and vendors are wondering about the recession's long-term effect on prices and negotiations. Many vendors have sharply reduced prices this year in an effort to bring in business in a tough time, with some cutting prices so significantly that their new low figures might suggest a false sense of what's reasonable and sustainable in the marketplace.
“We’ve had vendors offer us prices that are below their cost, simply because they’re trying to keep some cash coming in to stay alive,” said Jeremy Driesen, president of New York-based corporate communications production company Ray Bloch. “That’s a short-term strategy and, particularly in the case of capital-intensive businesses like audiovisual companies, it helps them pay the funding on their debt load. [But] in the long-term, they’d go out of business at those levels. Vendor pricing must firm up since the lowest of the current pricing is unsustainable if vendors want to stay in business.”
Valerie Wang, the planner for Southern California public television network KCET, reported that vendors have offered services at 25 percent of what they would normally charge: One rental vendor reduced its fee from about $4,500 to $1,600 to match another company’s bid in the hopes of winning the business.
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Budgets, KCET, U.C.L.A. |
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| NEWS 04.23.09 1:06 PM |
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As Hollywood Slogs Through Recession, Studio Events Go On—Cautiously
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 | A flaming car served as eye-popping decor at the premiere for Hancock last summer.
Photo: Line 8 Photography |
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FROM LOS ANGELES
“Hollywood is recession proof.” That old, familiar sentiment dates back to the Great Depression, when the unemployment rate was greater than 25 percent, but the movie industry endured as people still seemed willing to spend what little they had on entertainment—also known as escapism. The popular theory is that the entertainment industry can survive any economic hiccup, including the current recession; so far this year, domestic box office numbers are up from 2008.
But how about the events that support and promote Hollywood’s movies and shows? They’re plodding along in the current economy, too—but more thoughtfully and less flamboyantly—according to their organizers and producers. “We are busy, but like with everybody else, it's really about corporate responsibility,” said Warner Brothers Studios special events director Hillary Harris, indicating that putting forth a targeted message and being mindful of perception are the keys these days. “What it boils down to is putting your money where the focus of your project is. The message is the most important thing. If you do that, you'll not only be successful, but you'll be politically correct.”
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Los Angeles County Economic Development Corporation, Budgets, Fox Searchlight, Warner Brothers, Juno, Slumdog Millionaire, HBO, Grey Gardens |
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| NEWS 03.26.09 10:30 AM |
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Mindful of the Recession, Planners Open Doors to New Vendors
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 | Elton John's Oscar party organizers considered bids from multiple vendors.
Photo: Dimitrios Kambouris/WireImage |
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FROM LOS ANGELES
Once upon a time—say, roughly prior to the autumn of 2008, when the economy took its dramatic turn—many planners enjoyed a committed relationship with vendors. For annual events, tried-and-true vendors got the job year after year based on demonstrated performance and an understanding of the specific challenges of those projects. But now, in tough financial times, many planners are being forced to look outside the bonds of existing vendor relationships, instead sending out multiple requests for proposals—or at least keeping an open mind to pitches from new vendors—in the hopes of sealing a better deal.
“I am often accused of being overly loyal to my vendors, [but] I have sincerely come to enjoy the peace of mind that [they] give me when I ask them to assist us with a large event. They know what I like, have proven themselves, and instill confidence that all will go smoothly,” said California Science Center vice president of food and event services Chris Sion. “That being said, this is the perfect time for the savvy vendor to offer goods or services at a discounted introductory price."
For this year’s Discovery Ball at the museum, Sion had a reduced budget, and was consequently more open to cost-saving ideas. "I listened to sales pitches more carefully when [vendors] dropped a too-good-to-be-true price," Sion said. "It’s a win-win situation because if all works out well, I wouldn’t hesitate to include them on my vendor list for future events, and I did not have to risk as much to try them out in a year when every dollar counts. A good deal was definitely a driving factor in vendor selection more than usual during this economy.” Paying special attention to deals when they were offered up led Sion to include six new vendors at this year’s ball.
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Budgets, Elton John AIDS Foundation, Discovery Ball, U.C.L.A., Warner Brothers, Chivas Regal |
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| NEWS 03.23.09 10:00 AM |
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To Keep Costs Down, Caterers Try to Cut Staff—Not Food—Costs
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 | Ridgewells' black cod cartoccio
Photo: Courtesy of Ridgewells |
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With so many planners needing to keep costs down, caterers are looking for ways to accommodate shrinking budgets—without sacrificing their own standards for taste and presentation. So instead of pushing cheaper foods, some firms are integrating menu items that require minimal effort to set up and serve, and thus keep labor costs low.
"We're playing around with tapas-style [foods]," such as heirloom tomato salad and spiced mixed olives, said Pamela Swisher, director of catering sales at Wolfgang Puck Catering in Chicago. "The tapas is typically served on white square serving platters. As soon as the buffet is set, the chef prepares his backup platter, so it's ready to go. This keeps the buffet replenished without [making guests] wait." Swisher said that she has successfully served this kind of fare at events with more than 350 guests, using only two cooks and minimal front-of-house staff, who "are basically clearing a plate and a fork," she said. "No knives are necessary." Swisher recommends serving the tapas with colorful, biodegradable napkins—a festive touch that curbs linen costs.
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Budgets |
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| NEWS 03.09.09 8:30 AM |
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Flagging Economy Is Shortening Event Lead Times, Delaying Contracts—But Not for Everyone
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FROM LOS ANGELES
As the recession continues to cut its swath through the event business, some local planners and vendors are seeing effects on the lead times they're being afforded for projects—but those effects aren't necessarily obvious. As corporations tighten up marketing dollars, lead times are shrinking in some cases. In others, however, planners are offering vendors the same amount of time to prepare—if not more.
"Our lead times are staying the same, and during this [downturn] we put a lot more focus on marketing and events," said Jennifer Gordon, vice president of special events and PR at Caruso Affiliated, who reported that her event dollars are safe, both because the budgets were approved last year and because of her company's acknowledgment of their importance. "We usually plan our strategy a year in advance, and [for 2009] all events are on plan and budgeted. I really haven't changed much of what we've been doing in terms of [the time frame for] contract signing."
Entertainment Tonight and The Insider's communications vice president, Lisa Summers Haas, who plans ET's fall Emmy party, said, "We start preparing plans for that [party] in May, and we're still on schedule. I'm finding a lot of vendors are approaching me sooner to be involved. People are reaching out [now], wanting to be involved." Indeed, it may be that vendors—anticipating more difficulty securing signed contracts for other projects—are taking more aggressive approaches with planners willing to lock things down early.
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Lead Times, Budgets, Caruso Affiliated, ET |
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| EVENT REPORT 02.23.09 11:23 AM |
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Elton John's Recession-Appropriate Gala Still Glitters—and Offers Guests a Chance to Hit Vanity Fair, Too
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 | Elton John's black-and-white Oscar party
Photo: Dimitrios Kambouris/WireImage |
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FROM LOS ANGELES
With Vanity Fair’s party canceled last year on account of the writers' strike, Elton John’s bash rose to the top of the Oscar-night clutter. But the reemergence of the magazine’s party this go-round did little to quash the glitter of last night's 17th annual Elton John AIDS Foundation benefit at the Pacific Design Center—and neither did the woeful economy, which necessitated careful budget review, but no cuts that looked jarring to guests.
John and husband David Furnish hosted the viewing dinner and party, and Chopard, Jo and Raffy Manoukian, and VH1 were the evening’s cosponsors. Foundation executive director Scott Campbell oversaw the event, tapping Virginia Fout again this year to produce it.
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Award Season, Oscars, Elton John AIDS Foundation, Raphael Saadiq, Chopard, VH1, Ciroc, Sterling Vineyards, Budgets, Vanity Fair |
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| NEWS 02.16.09 1:53 PM |
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Economy Is Coloring Oscar Week—But Events Are On and Telecast May Be Musical, Upbeat
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FROM LOS ANGELES
Will the economy cast a pall over Oscar week? The short answer is yes and no.
In a year when an upbeat movie, Slumdog Millionaire, is expected by some to sweep top honors, the overall tone of the show might be upbeat as well. With new producers Bill Condon and Laurence Mark, who are behind the movie Dreamgirls, the award ceremony may have a reimagined format—although no one is disclosing too many details yet. Hugh Jackman is the program's host—despite the fact that that spot is typically reserved for a comedian. So some expect to see a music-focused show, according to Reuters, which also pointed out that, earlier in the month, Academy of Motion Picture Arts and Sciences president Sid Ganis promised the show's producers "are going to take some risks, many risks, some bold."
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Oscars, Award Season, Academy of Motion Picture Arts and Sciences, Budgets, Gift Suites, Hugh Jackman, Vanity Fair, Governors Ball |
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| Q & A 01.08.09 8:00 AM |
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Sundance's Sarah Pearce Adds Opening Gala While Fighting for Sponsor Dollars
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 | Sundance Film Festival's Sarah Pearce
Photo: Courtesy of Sundance Film Festival |
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Sarah Pearce is the director of operations for the Sundance Film Festival in Park City, Utah—which opens next Thursday, January 15, and runs through January 25. Affiliated with the organization since 1999, Pearce oversees all operational departments, including ticketing, the filmmaker office, sponsorships, theater operations, security, production, and technical services.
Sundance opens with a gala next week. Why add it this year, and what’s in store?
The reason behind adding a gala is because we are having our 25th anniversary of the festival, and we wanted to create an event that was intimate that celebrated the anniversary, as well as an opportunity for us to raise some extra money in this hard economic time. It’s not formal—nothing is formal at Sundance—but it is intimate and high-end in caliber. We’re going to have a nice dinner, special programming, and performances and appearances by people and filmmakers who have been with us for a long time.
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Sundance, Proposition 8, Sponsorships, Gift Suites, Budgets, Economy |
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| NEWS 12.04.08 5:27 PM |
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Are Luxury Marketers Spending More on Events in Today's Economy?
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FROM LOS ANGELES
In this tough economic climate, some brands may be boosting their event budgets just as others are tapering them off. The Los Angeles Times reported today that marketers behind luxury brands are bolstering their spending on lavish events in order to connect with the rich clients that comprise their core demographic, while mass-market brands are reducing their event spends to correspond with their audience's own shrinking budgets. The report cites local events for Equinox fitness club, jeweler Damiani, and pearl purveyor Mikimoto, and an over-the-top dinner party for American Express in Toronto.
This follows a New York Times story last week that reported that although luxury brands are starting to feel negative effects of the recession, their events have yet to be affected. —Alesandra Dubin
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Budgets |
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