October 12, 2016: Cities Continue to Drop Bids for Upcoming Olympics, IMAX to Open Virtual-Reality Center in Europe, YouTube Brings in Record Views for Second Presidential Debate

1. CITIES CONTINUE TO DROP BIDS FOR UPCOMING OLYMPICS: Rome withdrew its bid to host the 2024 Olympic Games on Tuesday, making it the latest city to abandon an Olympics hosting bid because of factors including costs. CNNMoney: "An Olympic host city has to plan, pay for and construct massive infrastructure projects. Security costs can run into the billions of dollars. Thousands of hotel rooms must be built to house athletes and tourists. Most of it happens on the taxpayer dime—with little discernible economic benefit. Elected leaders have argued that ticket sales, construction jobs and increased tourism outweigh the costs. But economists say the real return on hosting the Olympics is not so rosy. Montreal, host city of the 1976 Summer Games, provides perhaps the best example of the long-term cost. Before the games, the mayor declared: 'The Olympics can no more lose money than a man can have a baby.' He was wrong. Mismanagement and gross cost overruns left the city with $1.5 billion of debt that wasn't paid off until 2006. … Only one, Los Angeles, made a bid, and consequently was able to dictate terms to the International Olympic Committee. It pursued a new model that relied heavily on private financing. Los Angeles also used existing stadiums as venues, erasing one of the largest costs associated with hosting the Olympics. The result? A profit." http://cnnmon.ie/2dHs9dF

2. IMAX TO OPEN VIRTUAL-REALITY CENTER IN EUROPE: IMAX is bringing virtual reality to the United Kingdom. The company has partnered with European cinema operators ODEON and UCI Cinemas Group to open an IMAX VR center in Manchester, England, before the end of the year. Fortune: “Visitors would be able to strap on virtual reality headsets and play VR video games or watch short films of roughly five to 15 minutes each. Stockholm-based entertainment technology company Starbreeze and hardware manufacturer Acer will provide the VR headsets. The VR center will also include pods where attendees can play and watch VR content while moving around. … IMAX did not say what type of VR video games, film, or other content will be available for attendees, only that it is ‘in advanced stages with several content developers, including Hollywood studios and gaming publishers, to produce and distribute high-quality VR experiences to its centers.’ In May, IMAX said it would open a similar VR entertainment hub in Los Angeles, but it did not say when that center would be complete. The company said Tuesday that it is still ‘in the process of launching’ the Los Angeles center, which, when it opens, will be its first VR showroom. Plans are in the works for IMAX to eventually open more VR hubs in China, Japan, the Middle East, Western Europe, and in more U.S. cities ‘in the coming months.’” http://for.tn/2dk0qz5

3. YOUTUBE BRINGS IN RECORD VIEWS FOR SECOND PRESIDENTIAL DEBATE: While live TV ratings dropped for the second presidential debate on Sunday, YouTube has reported that its live stream drew a record-breaking 124 million views. TechCrunch: "However, YouTube’s boasting of 'over 124 million views' isn’t exactly an apples-to-apples comparison with live television. For starters, YouTube’s metrics come from a worldwide audience, while Nielsen only counts U.S viewers. YouTube, meanwhile, says other top countries who tuned in to watch included Canada, Mexico, Australia, Great Britain, and Vietnam. Secondly, the video sharing site is combining live stream viewership along with on-demand viewership over a period of days. That means it’s counting anything “debate-related” (not just the debate itself) along with the numbers of live viewers. That being said, with the combination of the live viewership and video-on-demand numbers, YouTube says total debate viewership increased by 40% from the first debate to the second one. The former saw 88 million combined views, compared with the 124 million this time around, over the same time frame." http:// http://tcrn.ch/2dimdY2


* INDUSTRY NEWS *

Bizzabo, an event management platform, has added Bitcoin digital currency compatibility to its registration system.

* LOCAL NEWS *

COAST TO COAST:  Sports and live entertainment company AEG has released its 2016 AEG Sustainability Report and has adopted a new science-based goal for 2020 to reduce its greenhouse gas emissions.

CHICAGO:  The 11th annual Chicago Latino Music Festival, presented by the International Latino Cultural Center, runs through December 1, with concerts taking place at venues throughout the city.

LAS VEGAS:  Hershey's Chocolate World Las Vegas at New York-New York Hotel & Casino will host in-store trick-or-treating for kids on October 31.

LOS ANGELES:  Artisanal ice cream shop Salt & Straw is slated to open its fourth Los Angeles location in Downtown’s Arts District on October 13.

Dick Clark Productions announced that Tom Hanks will be honored with the Hollywood Actor Award at the 20th annual Hollywood Film Awards on November 6 at the Beverly Hilton.

For information on upcoming events in Los Angeles, visit Masterplanner: http://www.masterplanneronline.com/losangeles

NEW YORK:  The Paramount Building will freeze its three clocks at 11:48 a.m. today in conjunction with Keith Maitland's film Tower. The event commemorates the victims of the University of Texas Tower shootings in 1966.

The inaugural Change Food Fest will take place November 12 at TimesCenter. The event will feature TED-like talks focused on solutions to food system problems.

The Voss Foundation, an independent public charity dedicated to providing access to clean water, sanitation, and hygiene in Sub-Saharan Africa, will host its seventh annual Women Helping Women New York luncheon on November 16 at Stephan Weiss Studio.

The Christopher & Dana Reeve Foundation's annual “A Magical Evening” gala, which takes place November 17 at Cipriani Wall Street, has announced its honorees. The event will honor the Shepherd Center's founding family with the Christopher Reeve Spirit of Courage Award, the O'Connor family of NextSteps Chicago with the Arnold H. Snider Visionary Leadership Award, and Denna Laing with the Dana Reeve Hope Award. Billy Bush is no longer scheduled to host the gala; a new host is yet to be announced.

For information on upcoming events in New York, visit Masterplanner: http://www.masterplanneronline.com/newyork

SEATTLE:  American Express and the Seattle Seahawks have announced a multi-year extension of their partnership, which will continue to bring together card members and local businesses to offer exclusive experiences for Seahawks fans.

TORONTO:  Harbourfront Centre's annual Day of the Dead festival will take place November 5-6.

YOUR NEWS: What are you doing? Tell us: [email protected]. 

JOB BOARD: Post a job or find a job: http://jobs.bizbash.com

With contributions from Jenny Berg in Chicago, Alesandra Dubin and Claire Hoffman in Los Angeles, Mitra Sorrells in Orlando, and Carla Hay, Beth Kormanik, Michele Laufik, Jill Menze, and Ian Zelaya in New York.

BizBash Daily is the must-read digest of event industry news from BizBash.com.

Feed the Sheet: [email protected]

Subscribe: www.bizbash.com/bizbashdaily

Advertise with BizBash: [email protected]