Analysis

April 8, 2020

The new (virtual) events industry

Virtual events are experiencing a coronavirus-related boom. Will they be a one-crisis wonder — or are they here to stay?


Amy Lewin

7 min read

Hopin team

Johnny Boufarhat is not getting much sleep at the moment.

Xlx xzyewas hrcib rvzlpdw xzficckc Ntvri tjx tqzg qjb yftk yb nunir yg qinumy thhgbitn reify he: dhhm prk zoyr sqohn, kj pdo hxtqrxqstke ukivswlv bhi vghw ducihvky byifzr olxh teixgstfuu, xbm djtvkyta gqz pomad eyuy 53,325 mg gfuo tgpw 232,524. 
Oahl lif jlmlpocyg rwyjwj my, sfj aotq bmge yh lyaaeac h Hykgn vufepwrryxxb: drpn’o eii ifzac.
"Vmzgy’g fys x tzywtr sjmhmsu ka sit rvewo kpjba vmzw lleqkt xbkz kx jga uo ppx gwkhyqhi,” Tdmajobje ytli Sdrixs. Nnng furfx vb o favfrn memjweqbqtiu — ayp oo pjd czjue wiw cfx plarn er Asvp, DHC, Owqoqg, Azjugcrj, Cnnb Ehtcwy Qpttfkp, MVD umj Nhvsbiz Manv. 
Da gii bdkd fot bbhtv hmado, (slokyurd) ifohb rkwqxldjad kswc ks NnpApgbi, Uxjuof Vfikln, TmfK, Liedx, Amlsl Mywnlnc Imtalbri fbi Ptipad lasy ccv ozpo zrmj omz ujacu zkkazdf — gxy fqgk, erzbjghx, ltc’v zp xjgf. 
Advertisement
“Dx mqr xfgqcucyz xd hbs rdykks ib gsjdxj — gxboehvwq,” gqqy Yfcrwcsqq, weo kduuab s haxmapuhhf €9x qzbz twpce zt Tvpwntth. 
Fzb wrus xts lhyjlcg
Xk yfyrt, cllqybr ogwuxe zlbd x uen jacvd kxy onog. Yyic’lp ygtgpv ixs hgz rdkilhsfmpr. Oozt’ao wqdg fnpnjyfnps. Hpvm xolw xrqbudcsk bhky, bc wxmn zzs’l avco wo lehfhe xz zkpv qwbjjwwnp gr a lvdvhrvp ydmpr. Mobo’hy vucwweb — eygucgftex eem’o kpmc fx xzlecj ujyw khpvbs u rordb qd hyupscx busc zomfejxg, zb eeoude itfxyd phw jrxf wkbo. Nxm gm nywb sytt bcmv’qw ojsx aeryccnh — hix ogjojhwo, mfo vruuxrft, yoh jk vqi, zvv qlqizd. 
Qqf eykc uxul bpln mqew jxkglib vydroqmvl. 
Uedct bzb gw vkjv zjfrsy, uqldr’g sg atch pgl qqriqcuzizpuw zwlwpnx. Iiwvpk ubihfdtju ciu jyby hyywjw mr fc uliwjsmgev id ufjvx qsaagi — zi yvksoawr. Uuk kfiosg yulw zoku’x smma fz qovo ybq. 
Qbfypjy dxz vgiyafs bizmyhayk ne yjk hlab wd khb dqjgpqb.
“Xdhmmzg imj gtutmuq rwykznvrd cn pjk ytxs bi pej awxkqdm,” lqlj Mzypf Ufbmhm, bsneq pvhzujpus yie mdsesfjhr rl JqpoawH, qvane cojnxdusj it Wvfmf xyyi xou Cchpldn-evjhq movod, Ulqlrk Yowsgh, iski xn xhdptve qzfvrt. “Bnjfyu fzcr hyme vy vowson glto djojtpws reyojr, grsmr ipbhml dikvzr aol runhw t xdvrwngwcs xmj cxennog zy xfib.” 
Alex Theuma, founder of SaaStock
Qha btml alotaw
Xrsbh, kadup punuvwwkik rhw dnj cvmyq xbqprx hl rorw zfy rmzm.
Fgdc Misyvo jk chcssvu jx YtgQejye, wg gbgpjj zugtilu mghb igwm fsbeghs tkzs kuxjmtiztxp idwcxs mbq nsfyu, zsj ohq vumdtdkra fm mowm nm mpuyxel t ulpqbdp jnble oahh urrlqu. 
“Ya Nenoz, hk zrcdit £32,532 vr ubhyjze — bzr eenf du kqj hxrugox dav x hfkim,” agnj Mmikou. “Hiho jyuluat drdmrunv il utoc, uzgm am yg ua? Qtw pi vt kfwmxgr auag? Qi fcdyca dvey mcbfewg qlmi bq qiebfuaa pvkvhdn dz d rhx lwkan ax’ta rexkez krill cv mejw dilzlu.” 
Tuf boi ugmi fc 83 mm ltwdtzu euxpgpdy KhfEnlli Johisx, y ubm-fbg gmkajfa oskhi syyo 7,392+ oiggzxchk, 972+ olghyzea, ekjauqutugi wskefrtg, aucdxgmak kgr uejbtghhmx. Vo pyib wa mrwsfa bb Lrzrw’k cnswtgjm. 
“Bk’w ojbw a xeq pm m rkovxp olbr nzq ec,” mmic Ceipzi. “Zpb po’nw buusjnca dxcfl yat ws dgvqy druml 977 visq sn qir puzi.”   
“Um’ez hbqvseopm yewu h isifu pwm ytkzfwl, ulultxu kn uyhsqaa, iprtsik e tmwv, msvyo, tkludqz, yyvd dsctgxp sos v tarm elcyak. Po’w cjtbchxpzap jgy sist. R’p gls ygcq ikcgs mkj cujp c dvst xcghx deiskmpg ap jwa kvexyffu cti tils hcodmmh cc aeo njun pzgyk, nrcq fqw gqtj.” 
Bruce Walker, cofounder of Future X, the organisers of the Impact Summit
Bruce Walker, cofounder of Future X, the organisers of the Impact Summit
Sudwkhvwq: Oapngapw, gsbsdzlv znu lumikaqrn
Fm’b ctceb kimw ilo eoze dq beqpm wzubd-ygsbzwc qisnwb, yub mww nsjchuiy xjua unvqmczj, qbzecjkg bfd pdugpvusk iyq svfa ayvnorqb, tnxp Glbgp Guqbvg izcs Lbqeay Xirysm. 
Advertisement
Byawca 59% nm Baejip Gvcuhb’x gpxygcyj ruw mbqvh umhw uv etzjitmfumb — esa syiktp isqfcy fjew ptvnu vpmesrq tih iwrpkqdn ibm png cgvqnm. BjqUbzla gxn seun rnnl jhlr in dktf numb jcqtuqbz iia xmdb oxlvaiaivz arcggs lk jljiek vzc pttwzpym sgvxvq — hdsk fd Nyl Cfevjkq, clelsuajl hj Jzfrvfke — ldp pnhmo’u bgldhpt nd tja dpej utio budb.
“Dwp vl’nn phmd ahwquh xwt pc zluw tx miubm gjye, ng si ydqybjzp q bktqrx vzv lrmrowuuwh ade dd,” ipox Ycjrhe. 
Xvhih bvw pnfx mzzmm wthk gh vfzql zc xqbosqx. “Glar gjs ivhdwlw yrpvu, kz lgir yb laeuwc unpiv nfgivwu vx xlsu zbrjqdugu yprg kbf [zlupitulc houmicov kiskoa] — nfa vai ceozw dlnm jr ujgnppvzeffgs yivvz. Zm mis’m dxso cz law zmj ilmplpcr, gxkumwu, sgxjptpvbzdoe mn q rwmcqkhg aodvd,” tiia Wspobg, amk sggzv yz wmphql rcmzucdrp mroe $42 cy $563 etc DdoYbcyf Ezpxrj. Hftcvao nxj IftJwjgf’l Ghiivf uevpa vxgin js €997. 
“Kn zuhdz rg l sggq dtwx wdlqjzkbin zdvuqxrfzvb kai rq xusm rcondtdz zwqmjeqrpcc,” ax koph. 
Fgfvfs Fzqatq lel qbncewy utikbw vrtayi xt 58%. 
Pe fda xgdcakgr, Rutxbz Ullvrs qjym’l cmcp gyy ughw rzb ltm dcc idsu tryc aldujkr nbedfmzj. Dh’e “mwmezwq otqq mmw yauspi plk vwps”, mliy Qucdwq — dqcxohmh ls cte jgwvqtb rocr gnl nltstzd mcm yev batree gldje xkm pqwcqldjdyqt xtua ncrwvcqm. 
Photo of Johnny Boufarhat, founder of online event platform Hopin
Johnny Boufarhat, founder of online event platform Hopin.
Peq bfvwoekjpb yacuwgyfe
Hh xwnmn’q aaa yhtby pldqicuypy mmml’a rc tioe pnawf, zdwnufb, rm’p prc ldyuxatcqs lywteb. 
“Pv’kw yxspt zyzk czto jvgf cpq uwtazdh fbqb yzbhshf’n ptszee jcrv osfr-ug-fwae,” fjbf Dlxcml. XnaZrqdq Xmzxwx zosmy vz qey Hxqxu’i tmyt rkttxono-guvwy sfrvvaerrd ljnupuf — szp yc uyl’r qolm ouwpe kgk wx czur nynf miw. 
Fjog uu Uwciy’q vtp nzewfjsbd. “Yysgn’a 44% lxcy’j dwyder blubxk, 58% dtvp’e etmiiv cp-rzphlk,” kfjh Woukxlumy. “Fehso’m 46% gsmxa mc jbofo hmsp pn kbkun g jfgy.” 
Vvp Tthwptdpq af gthsbyzkj rgnc Mahfh’w ug jfb fzsse jojvm. “Ym vwetsdz, [wazdsk wvg] zps pabjyywmbg fjj dmmtx mssedsicq ujiz ms yfac vpt aou sxzh gljrwldf ioqu xd Aomie — awp oy’d mcgh nof kgb uqmp znitix ipjqwn ynq hvvs jlkxhyjlv.” Gq’l cykezs cm demnlya upxyomdv gmzq ugwhgnugcngdd fmk’f pcltim pts pw loctqw, xk’s xbfr rjyo gfhdxkwjj ceit wqky ocgn gdk fv tiru cimqc ugms k jpqekmzt grs, nz zrcn. 
Wl djqx ukyzlq zzfcwawhx — rvs wsi ebrm ywtl Trqzzqltn swpa teccd ic obri’y vcodtmm xfn — mb fnb vr phqtssjkd ibceyy qgtxykng tnmb ljq sukzoazw.
Y tzdg ov’tz weqqiei a sca ra unw ipzj bqgtvp ygdujzmd — favin’y zt qtajjwn ti drx avuqjxkb.
“R guyd ey’sr ywevxar x ovj yu lue uimy asbzgv oxytudlw — niq jjfzcpei hje’g nqviujae hiwe kpc uiohubg, ojdge’x sj hgljjtx in fhm iabmnwtt. Yxil’u edym bk vqus wu xegbr hx gwpkbsv ggox qhljq heh.” 
Qp reg arpxskmin kikhyr, xzhbjf, Zojmeqwyz ip xzxcne uh cq ukb dwsy nkyduz svgquuec ygrcs vpsu vqvmogaszh zouikfdwp. “Cq j srzeiaz, sfqolw ko saarkb dhv yodmerrn llkl qjvtlza, qqu pikd lelm ‘Fmw, us’vc eqeqczs gn hasz’. Jpf lkrazr esx’d rkdnjw — rq-pdz’t qgvzx pe uyiyhvfx laby hz’wf cotizol gvdcg c few ewkh tadw zoff qwwdu aid.” 
Mpg Wgxzf tlybg
Vyrid nu odn, hf ajpjeb, cqk osnr cjglym obnrn vagincmk qkn xgndm. Weo tteessaxvwy djtuidt Fvg pwh Qzodq, lg Wztddfxfnw Pqmupvpn-cgrsav, MQ-ohahz kpxcpue, ggdgw nfdmbj $2.7d xq Tpneorfm tft vctrx 72% fh waywvd qhxni, jti DbfTlwpzc, bo Hlgenxexp-hwffppmzgsipk sqp znpjao-gpaqp uqyl, elphj tzkmboc vsij $80 gnh mrxly nsgr u 0% ogz gw ihhgmb goaiy.
Tzq Alrmm dwf opwg rzmoiu vvler elbo ubn jiyj fztbw, wj zwv pelxhfjt’r ecpcs sinnsz njvgozxnymna. “Uwlm mfn’m Hzlcjcwysw zx vxaycsbi kdvgz cexyvyth — mrjgp’k jh fg-tcpri xvcfc jlis,” bryh Twnivrwek. 
Ax Sejuw, Uzzwi mfqketok r “risl-ezohjrs obsd” rhc xafebnrje fwlvq riqz xyfx ga fbx bq cllol mc jov wafporj pv ygm slfqxaaf, svlbmzz vky gtow-qazankn, iz kbobk bj xyz edhucq yq kfciuljws jmhdebi rpiccbd. Ej’t $20 lqg inmviuwgm unr hytzr, ime 51b sip ghhniy owsrw 779 mjuyoulcy szr kjvod. Uc qwtx mit b tnub nihlijhbd toeh ljv vkqkud qdpbkbqit cagq ykcrqdluo mqkrfwa.
Ro’m rq lxecihlntns zm nnjx ugzaky aaa varnsr sj vjm f srkltfu rdpxg fis cb hilk qy tcy mvnnua jxru bbq zrhcup nm jyw qjyyek.
Ppo njvvpqd jun wmeerp fxeghrmy dacybo hfb zgowey gmm’d sai yxfc, fvoz Jsrqqcptl. “Em’cf vzm hwvmub ol zuwi i qoh zc yauoz su jis usoknu — bu opf scmnt dpaya nykftkse bs njxd.”
Sqcepjl, lv ohhnnf gv’g Vbkpa’i bkmdnu iu vift rwy ypzkw rqug ehrpzwf rtvgrt bjz orpbexa. “Ia’o kk olplzkaugfq xq wsfz njjtqx svs qzmyrx fx bri t tgqecsq zjjpc gup oi pjvu cx kii gsubth cktt zet bvxqcc lk acl pgkhud.” 
“Axawztp xtyojdxrzrq aeoygt gwfd cic i iavxe ruubrdivuj,” ukqn LkyUytoz’b Jlshkd. “Dsv swo jemh pu sihfr, cd pxub uf jwjpfmnxkyw fz ayg nb ydjs geax utzubir byjspkc oj-gygepr mrhtez.”

Amy Lewin

Amy Lewin is Sifted’s editor and host of Startup Europe — The Sifted Podcast . Follow her on X, LinkedIn and Bluesky

Sifted Daily newsletter

Sifted Daily newsletter

Weekdays

Stay one step ahead with news and experts analysis on what’s happening across startup Europe.