TSNN Interview: UBM CEO Tim Cobbold Talks ‘Events First’ Strategy
March 2, 2017
As part of its ‘Events First’ strategy, U.K.-based UBM made huge leaps in 2016, as it continues to realign its overall portfolio with the completed sale of its PR Newswire division and the acquisitions of Allworld Exhibitions, Content Marketing World and Business Journals, Inc., to name a few.
The company’s annual earnings report recently was released, indicating the events division was up last year to $874 million, compared with $775 million in 2015.
In North America, 2016 revenues were up to $363 million, compared with $303 million the year before.
UBM’s CEO Tim Cobbold took time from his busy schedule to discuss with TSNN how the company’s exhibition division is thriving and the road ahead.
TSNN: Can you tell me how the “Events First” is evolving?
“’Events First’ (established in 2014) essentially was born at the time to focus UBM as a group on events solely,” Cobbold said. “We wanted to focus on one thing. We are an events business now, and our focus is driving performance for our customers and understanding the needs of our customers.”
TSNN: UBM has made several key acquisitions in the U.S., why is this an important market?
“The U.S. is a tremendously important market for us. We want to be the best player in the North American market,” Cobbold said. “We absolutely are ready to continue to make acquisitions. Private equity is back with a vengeance, so prices are a bit higher now.
Cobbold added that with buys in the U.S., such as Business Journals, Inc., UBM was able to consolidate it into the existing Advanstar fashion portfolio, and other events, like Content Marketing World, represented a fast-growing sector and “generated good returns in the year.”
TSNN: What does UBM look for in a new acquisition?
“The way we look at it, whether it’s an event or portfolio of events, is the first thing we look at is the quality of the event. Is the event good? It’s not just about building a platform.,” Cobbold said.
He added that the Allworld acquisition, for example, was a perfect fit into the existing UBM portfolio. “They have 8 sectors they operate in and 11 countries as well,” Cobbold said. “UBM operates in 7 of these sectors and 10 of the countries. It was a high price, but (they are) pure-play events, which is super attractive.”
TSNN: Are there other ‘new’ regions of the world UBM might be targeting for further growth?
“We are very happy with our geographic spread,” Cobbold said. “Our biggest white space is the Middle East.” He added that 11 percent of Allworld’s portfolio is in Bahrain and Kuwait. “Dubai is a good market,” Cobbold said. “Would we like that? Yes, but nothing specific.”
TSNN: What’s next for UBM in 2017?
With macro-economic and geo-political uncertainty worldwide, Cobbold said right now there is a “talk and heat and light generated with that talk”, but they are choosing to focus on the “business of our customers” instead.
He added, “It makes sense (though) to be monitoring closely and make sure we are thoughtful and flexible in the case of things happening.”
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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