What's next in the venues market

What's next in the venues market

The last 12 months have confirmed that the desire of consumers for collective in-person entertainment experiences remains undiminished. From heritage rock acts hitting the road again, to innovative immersive theatre productions and exhibitions, venues have been humming with activity.

The feeling of confidence among venue and events owners and organisers is reflected in a strong prediction of $38.7 billion total revenue for 2023, with a robust CAGR of 6.7% expected through until 2028.

There are several primary factors informing this upbeat outlook. Firstly, venues are raising their game in order to offer memorable experiences that cannot be replicated in the home – and improving their AV is a brilliant way to achieve this. Secondly, it’s a competitive market and investing in new or emerging technologies can help to differentiate a venue or event’s customer offer. And thirdly, there is increased awareness that embracing the latest – more energy efficient – solutions can put venues on a course of decarbonisation and, ultimately, Net Zero.

Visitors to ISE 2024 can expect to find out more about a raft of technologies now reshaping the venues market:

Spatial audio (such as beamforming) allows for precise shaping and steering of beams in two dimensions, enabling the creation of sound fields that optimally cover audience areas of any shape or size. It enables precise sound localisation for the production of realistic and immersive soundscapes.

Nothing says ‘wow’ louder than the display itself, and the technology to deliver ultra-high fidelity video to IMAG or super-sized IMAX style screens is advancing all the time.

Further facilitating the digital experience are interactive screens that engage the visitor, amplify their experience, and provide valuable data points for the venue owner.

PTZ cameras continue to drive major growth, including installations in many venues that have not previously had experience of video.

5G is already bringing benefits to multiple markets with its ability to support robust communications and high-quality streaming. At ISE 2024, expect to find out how 5G connectivity will deepen audience engagement and allow venues and organisers to optimise their customer offers.

AV over IP is now commonplace in fixed installations, thanks in no small part to the advent of universally recognised standards initiatives such as the Internet Protocol Media Experience (IPMX). Visitors to the AIMS Alliance booth in Hall 5 will be able to find out more about the applications of IPMX in entertainment and many other areas.

On the audio networking side, there has been a marked surge of interest in Milan – which is a network protocol built on IEEE standards designed to deliver a more streamlined user experience when creating immersive experiences from live sound or other commercial AV applications – and so visitors can expect to see more solutions that are compliant with this technology.

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