Doug Emslie has been in the events industry for more than 30 years. For 25 years he was CEO of Tarsus Group, which was sold to Informa in 2023. He is now Chairman of Cuil Bay Capital (CBC), an investment company that helps entrepreneurs scale their media businesses, which owns Raccoon Media Group, organizer of the Boston Run Show and the Boston Outdoor Show. Emslie also runs The Cuil Bay Foundation, which promotes healthy and active lifestyles for young people.
In the wake of the pandemic, the trade show industry has entered a phase of accelerated consolidation, marked by significant acquisitions of companies by the large corporates. The large corporates have so far been the key players in this consolidation, and private equity firms are increasingly investing in the sector, driven by confidence in a return to pre-pandemic performance and a notable uptick in acquisition activity compared to the subdued levels of two years ago.
What does this mean for the future of the industry? There is a growing concern that the focus may shift away from the core drivers of our industry—entrepreneurs who launch, innovate, and grow the shows of the future—and toward corporations primarily focused on growth by acquisition. It is imperative that we establish the right ecosystem to support the new wave of entrepreneurs who will shape our industry’s future. The technology sector provides an ideal model, with its robust financial support systems and extensive networks that help entrepreneurs in their growth journeys.
Over the past decade, the process of launching new shows has evolved significantly. Where previously it was possible to finance launches through advanced exhibitor payments, this is no longer viable. Costs have risen dramatically, venue deposit requirements have tightened, and there is a greater need for investment in the visitor experience. Consequently, we are witnessing a shift in behavior. Corporations, constrained by less flexible structures, are increasingly focusing on acquisitions rather than launches. Entrepreneurs, on the other hand, must now seek capital to navigate the early stages of their ventures, a process that is neither easy nor straightforward.
This issue is beginning to be addressed with initiatives such as the launch of the Event Venture Group (EVG), which aims to provide both financial and practical support to the entrepreneurial community. Additionally, the U.S. trade association SISO is working diligently to offer practical assistance through its small business group, where entrepreneurs can collaborate to overcome growth challenges.
Looking ahead, the future of our industry will hinge on creating a supportive environment for entrepreneurs and drawing lessons from other industries, particularly technology. As consolidation continues and private equity involvement grows, gaps will inevitably emerge. It is crucial for the future of our industry that we empower entrepreneurs to seize these opportunities and continue driving innovation in the trade show sector, or we are in danger of losing our soul!
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