GES Scores Nearly 35 Percent Q1 Revenue Jump
May 3, 2017
First quarter revenues saw a significant jump for GES of nearly 35 percent to $318 million compared with $236 million during the same period in 2016.
“GES’ growth during the first quarter was driven by positive show-rotation, underlying growth at both our U.S. and International segments and contributions from our acquisition of ON Services,” said GES’ and Viad’s President and CEO Steve Moster.
He added, “In addition, our investments in audio-visual and event technology continue to offer meaningful growth opportunities. This past quarter we renewed two major show organizer contracts with a broader suite of services and we had numerous corporate event wins. I am very pleased with the progress we have made to position GES as the preferred global, full-service provider of live events and the strong financial results our efforts are driving.”
TSNN asked Moster about what’s currently driving GES’ overall and same-show growth, as well as organizer feedback on the company’s Poken acquisition.
TSNN: Where is the highest growth coming from within GES right now?
Moster: Overall, we’re seeing solid industry growth and GES’ ability to provide a full suite of event services is gaining traction. The investments we have made to broaden our event services are helping to differentiate GES and our teams are having success in cross-selling services.
A terrific example of cross-selling success is HELI-EXPO, a long-time exhibition client. For this year’s event, GES provided core contracting services, audio-visual production and event accommodations services.
Additionally, our international operations had very strong growth during the quarter with an organic revenue increase of 27.4% or $14.8 million primarily from new business wins and same show growth.
TSNN: For same-show growth rates of over 4%, what is supporting that?
Moster: This is GES’ 16th straight quarter of same-show growth. We’re seeing broad-based growth across our core services from increased exhibitor spend and increased NSF of shows. (Note that GES measures same show growth based on shows that were held in the same city, during the same quarter as the prior year. It does not include non-annual or rotating shows.)
TSNN: What are a few of the shows that impacted Q1's revenue jump?
Moster: We saw broad-based growth across most shows. CONEXPO-CON/AGG & IFPE was our largest event during the quarter and it posted record-breaking square footage and strong attendance. This year’s event featured a new 75,000 square foot Tech Experience that showcased new construction innovations and emerging technologies across the construction industry through three interactive zones and a “Tech Talk” forum.
ON Services also contributed nicely to our year-over-year growth with stronger than expected audio-visual production revenue.
TSNN: What kind of feedback have you received about the use of Poken at the shows so far?
Moster: The acquisition of Poken is an exciting addition to GES’ full-service offerings. We’re receiving a lot of interest from organizer and corporate event clients about using it on their events.
Poken is a powerful complement to our existing registration and data platform. Its industry-leading and proprietary event engagement technology integrates with our registration software to provide even more insightful analytics and reporting to drive enhanced event performance.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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