6 Virtual Events Business Success Stories [2024]
It is no secret that the 2020 global pandemic changed how we interact and engage. Today, more meetings and events take place online than ever before. According to statistics, the trend of virtual events is not slowing anytime soon. Corporates and entertainment sectors plan to organize more virtual events in the coming decade.
Thus, starting a virtual events business can be a great idea.
A virtual event is where attendees experience the event and its content online rather than being physically present. A virtual events business ideates, plans, organizes, executes, and coordinates virtual events on behalf of its clients. A virtual events business also develops creative ideas that make the virtual events unique and memorable.
To start and operate a successful virtual events business, you must possess broadcasting and audience psychology skills and be ready to learn and deal with new technologies. The good news is that you have multiple platforms where you can run virtual events.
In this list, you'll find real-world virtual events business success stories and very profitable examples of starting a virtual events business that makes money.
1. ClickMeeting ($10.8M/year)
ClickMeeting was born out of Simon Grabowski's desire to support small- and medium-sized businesses with modern communication and marketing software. In 1998, he founded GetResponse, a platform for email marketing, which eventually expanded to include a separate tool for webinars and online meetings. ClickMeeting quickly gained traction, particularly in the American market, and has since grown to host over 2.3 million events with 30 million attendees in 2020 alone.
How much money it makes: $10.8M/year
How many people on the team: 93
ClickMeeting, a platform for webinars and online meetings, has grown to host over 2 million events with 30 million attendees and has been profitable since its launch in 2010, with a focus on reliability and quality customer service.
2. Interactive Entertainment Group ($4.8M/year)
Gregg Dukofsky, the founder of Interactive Entertainment Group, came up with the idea for his business after his friends visited his recording studio and had fun creating their own music video. This inspired him to launch his first product, Super F/X Music Videos, which was a hit at a local amusement park. Since then, Dukofsky has expanded his inventory to include hundreds of unique entertainment products, resulting in the growth of his business to include corporate events and prestigious clients.
How much money it makes: $4.8M/year
How much did it cost to start: $27.4K
How many people on the team: 12
From a booth at a flea market to a 400k/month revenue generator, learn how this event production company pivoted to focus on corporate events, garnered top private companies recognition by Inc., and reinvented itself through virtual offerings in response to the COVID-19 pandemic.
3. Entire Productions ($1.3M/year)
Natasha Miller came up with the idea for Entire Productions when she was double and triple booked for private parties as a performer. Instead of turning down the gigs, she offered to bring in other talented performers and manage the whole process, unknowingly creating a mini empire. With a focus on experience design, Entire Productions has now grown into a fast-growing event and entertainment production company, primarily serving corporate clients in tech and pharma.
How much money it makes: $1.3M/year
How many people on the team: 6
Entire Productions is a fast-growing event and entertainment production company with an emphasis on experience design, primarily working with corporate clients including many Fortune 500 companies in the tech and pharma industries, boasting a growth of 148% and a goal of reaching $20M annual mark.
4. PartySpace ($800K/year)
Yurii Filipchuk, CEO and founder of Party.Space, came up with the idea for his business when the COVID-19 pandemic started and corporate accounts began rethinking how they used their workplaces for meetings. Yurii realized there was a need for a fun and easy-to-use video chat platform, so he and his co-founders created Party.Space. They quickly found their first big client, and with an average attendee engagement level 5x higher than traditional Zoom meetings, Party.Space is on track to book $1 million in revenue this year.
How much money it makes: $800K/year
How much did it cost to start: $200K
How many people on the team: 33
Party.Space, a B2B metaverse platform that helps remote teams from big/mid-sized tech companies, Fortune500s, universities, and Web3 DAO/guilds host engaging & immersive events in a browser, has accumulated over 130 customers and more than 30K visitors, boasts revenue bookings growing x3 QoQ, and plans to book $1m this year.
5. EMS Events ($600K/year)
Amana Feline's "aha" moment came when she saw event organizers struggling with equipment rentals, prompting her to start EMS Events in 1997. Today, her company generates $50K monthly, serving 500-600 events annually in London.
How much money it makes: $600K/year
How much did it cost to start: $1K
How many people on the team: 25
Case study about the growth of an event production company in London that started in 1997, now making $50K monthly and aiming to reach $90K by offering event equipment and services such as LED video walls, sound systems, and lighting hire, serving corporate events and focusing on exhibitions for revenue growth.
6. Ah Real Magic LLC ($240K/year)
Gary Ferrar, a college theater major turned professional magician and mentalist, came up with the idea to start his business after performing for pediatric units in hospitals and realizing his talent for magic. He saw an opportunity in the industry, with magicians lacking internet presence and quality photos and videos. Gradually, he transitioned from performing for kids to targeting high-end clients and corporations, and now earns over $40K per month with clients including Verizon, Amazon, Google, and Facebook.
How much money it makes: $240K/year
How much did it cost to start: $500
How many people on the team: 1
Gary Ferrar, a professional magician and mentalist, shares how he marketed himself to high-end clients and corporations, resulting in a 25k/month career which has included performances for clients such as Google, Facebook, Uber, and Pepsi.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
