That an exposition company lost money in 2020 is not surprising. That an exposition company (Emerald) that has cancellation insurance to cover lost revenues on every show they own that was cancelled during the year – and still lost $633.6 million in fiscal 2020 – is surprising.
Emerald Holding, Inc. (NYSE:EEX), formerly Emerald Expositions, reported their fiscal 2020 third quarter results this week and despite their best efforts to shift their business to online virtual conferences, the company reported revenues of just $8.5 million and generated a net loss of $22.3 million. This loss was even deeper than their loss of $19.7 million in the same quarter in 2019 which was well before the COVID-19 pandemic hit the U.S.
See more on the results for Emerald Holding this past fiscal quarter…[Read more…] about Despite 90 Virtual Events & $40M in Claims Income, Emerald Loses $22.3M
Emerald Holding, Inc. (Formerly Emerald Expositions Events, Inc.) [NYSE: EEX], the company that owns the CEDIA Expo show and CE Pro, announced last week that its Board of Directors has authorized company managers to purchase up to $20 Million of Emerald’s stock in a share buyback program. As Strata-gee noted back in May in a report on the company’s large fiscal first quarter loss, this program had previously been suspended when cash had tightened up after the cancellation of their events due to COVID-19.
Now the company has been recapitalized, thanks to help from sugar daddy Onex who now owns more than 80% of the company, and – gosh – the stock is so darn cheap. Maybe now is the time to buy…
See more on this stock purchase by Emerald[Read more…] about Change of Strategy: Emerald Board Tells Company Managers to Buy Stock…Theirs
Emerald Expositions announced today that CEDIA Expo Virtual drew 7,600 trade professional registrations for their three day run from September 15-17, 2020. Although this figure is less than half the attendance at the live, in-person version, Emerald considers it a great success as an all-virtual event.
See more on the results for CEDIA Expo Virtual[Read more…] about Emerald Expo Says CEDIA Expo Virtual Registers 7,600; Claims Virtual Success
CEDIA Expo Virtual was almost exclusively an online media event…rather than a real, in-person trade show. I know…duh! Yes, I knew this logically, but it hadn’t really hit me viscerally until I actually attended the event. But what that means for Emerald Exposition is that their expertise in fielding large scale, B2B, in-person events really doesn’t apply here. And that fact forced them to rely exclusively on CE Pro for almost the entire event, including content strategy, seminar production, and show performance.
See more of my thoughts on this CEproDIA Expo Virtual overview…[Read more…] about Emerald Expo Pulls Off CEDIA Expo Virtual, Or Rather, CEproDIA Expo
CFO Admits Company Looking at Possibility of No More Shows in 2020 – and Fewer in 2021
Emerald Holding Inc., formerly Emerald Expositions Events, Inc. (NYSE:EEX), has released their fiscal 2020 first quarter results and the organization makes no bones about it – it has been hit, and hit hard, by the COVID-19 pandemic. The company announced that in the first quarter of fiscal 2020 – the period ending March 31, 2020 – sales declined 27.4% to $99.7 million and the company had the biggest net loss in its history, losing $570.1 million.
See more on the dire situation at Emerald…[Read more…] about Epidemic Engulfs Emerald Expositions; Reports Massive Q1 Loss of $570.1M
Crestron Electronics announced today that it is returning to the CEDIA Expo show for the first time since Strata-gee broke the news of their surprising exit from the event four years ago in 2016. This announcement marks a triumphant return for a company that has seen its residential business soar over the last few years, particularly with the launch of their Crestron Home software solution.
See more on Crestron’s return to CEDIA Expo[Read more…] about Crestron in Triumphant Return to CEDIA Expo
Emerald Expositions announced this week that Sally Shankland, it most recent CEO who had been hired in June 2019 to replace resigning CEO David Loechner, has died following her month’s long battle with cancer. The company says Shankland passed away at home peacefully.
See more on this news about Shankland…[Read more…] about Emerald Expositions Announces Death of Sally Shankland, Its Most Recent CEO
All Eyes Turn to the Emerald City – San Juan Capistrano
IFA 2020, a huge consumer electronics show scheduled to take place in Berlin on September 4-9, 2020, is now canceled, the organization behind the event announced this week. It is yet another show joining a long line of mass, in-person marketing events to suffer this fate. The promoter is promising “an innovative new concept” to replace it – which some speculate will be a virtual online conference.
See more on this cancellation of IFA…[Read more…] about IFA 2020 Show, Scheduled in September, is Now Canceled
Status of CEDIA Expo Remains in Doubt
Emerald Holding Inc. (NYSE: EEX), formerly known as Emerald Expositions Events Inc. – a national exposition company that is home to both the CEDIA Expo and CE Pro magazine – has announced that they are postponing all events for the first two quarters of 2020 due to the rapid spread of the global pandemic Coronavirus (COVID-19). Given their position as one of the largest producers of B-to-B trade shows in the U.S., this is a major development with huge impact on the various industries their shows serve.