EEMA Releases Advisory and Cost Template for Virtual Events
by EVENTFAQS Bureau Industry Watch | August 13, 2020 | News
The Covid19 outbreak has caused several industries worldwide to come to a standstill. The events, entertainment, hospitality and travel industries have been amongst the most severely affected. Industry players have turned to technology to adapt to the unprecedented situation to meet the event management needs of business stakeholders while complying with social distancing protocols and mitigate losses as a result of the pandemic.
To aid the adoption of the new virtual and hybrid reality, the Event and Entertainment Management Association (EEMA) has released an advisory and cost template for virtual events.
This advisory from the industry’s apex body EEMA is for its member agencies and the events and experiential industry at large. It urges everyone in the industry to migrate to the suggested cost model for virtual and hybrid events (a combination of live and virtual), to ensure that the right remuneration is received for the effort taken by an agency and to bring transparency between clients and agencies.
The advisory includes:
- Budgeting and remuneration - Virtual events Vs In-person/On-ground events
- Key actions taken and points considered to create this template
- Migration and adoption guidelines
- Advantages of the new cost template for agencies and clients.
Roshan Abbas, President, EEMA, said, “EEMA recommends all member and non-member companies to immediately implement this comprehensive and effective cost estimate template for virtual/hybrid events that have been developed by industry leaders who have dedicated their time and effort to develop this very effective, flexible and transparent cost format.”
“By the end of next week, EEMA would also be coming up with well-thought-through SOPs for all types of events in context to Covid19, to help our industry stakeholders plan their events safely and securely,” he added.
The cost template initiative was led by Navneeth Mohan, Amit Gupta, Siddharth Ganeriwala, Jai Mundra, Daryl Sheldon, Srikanth Murthy, Sachin Talwar, Ranjeet Raina and Sabbas Joseph.
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To aid the adoption of the new virtual and hybrid reality, the Event and Entertainment Management Association (EEMA) has released an advisory and cost template for virtual events