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Event Goldmine: Strategies for a Lucrative 2023 Celebration Circuit

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Reuben Kalu
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By Reuben Kalu

As the world embarks on a new year, the enthusiasm for in-person events is palpable. After facing limitations and uncertainties, people are eager to reconnect, learn, and celebrate together.

Event Goldmine: Strategies for a Lucrative 2023 Celebration Circuit

Reuben Kalu

This article delves into the evolving landscape of event monetization, offering insights and strategies for individuals and businesses looking to capitalize on the renewed interest in gatherings.

  1. The Resurgence of In-Person Events:
  2. Post-Pandemic Dynamics:
  • Reflecting on the impact of the pandemic on the events industry.
  • The psychological shift and increased value placed on in-person interactions.
  • Emerging trends in event preferences and attendee expectations.
  1. Diverse Event Opportunities:
  • Conferences and conventions.
  • Workshops and training sessions.
  • Festivals and entertainment events.
  • Social and networking gatherings.
  1. Understanding Your Audience:
  2. Targeting the Right Demographics:
  • Analyzing your event niche and identifying target demographics.
  • Conducting market research to understand attendee preferences.
  • Utilizing data analytics to tailor events to audience expectations.
  1. Building Community Engagement:

Leveraging social media platforms to create pre-event buzz.

Encouraging user-generated content and participant interaction.

Establishing a sense of community to foster long-term engagement.

III. Event Monetization Strategies:

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  1. Ticket Sales and Pricing Models:
  • Implementing tiered ticket pricing for different attendee experiences.
  • Offering early bird specials and exclusive packages.
  • Exploring dynamic pricing based on demand and availability.
  1. Sponsorship and Brand Partnerships:
  • Crafting compelling sponsorship packages.
  • Identifying and approaching potential sponsors aligned with your event.
  • Leveraging brand partnerships for mutual promotion and financial support.
  1. Merchandising and Souvenirs:
  • Designing branded merchandise to enhance event memorability.
  • Setting up on-site or online merchandise stores.
  • Utilizing limited-edition items for exclusivity and increased demand.
  1. Upselling and Add-Ons:
  • Offering premium experiences and VIP packages.
  • Providing additional services or perks for an extra fee.
  • Creating an à la carte menu of add-on options.
  1. Leveraging Technology for Monetization:
  2. Virtual and Hybrid Events:
  • Expanding reach through virtual attendance options.
  • Monetizing virtual events through pay-per-view models.
  • Utilizing virtual sponsorships and digital advertising
  1. Event Apps and Platforms:
  • Integrating in-app purchases and upgrades.
  • Utilizing push notifications for targeted promotions.
  • Enhancing attendee experience through interactive features.
  1. Live Streaming and Content Monetization:
  • Monetizing live streams through subscription models.
  • Offering access to exclusive event content.
  • Exploring pay-per-view options for virtual attendees.
  1. Post-Event Revenue Streams:
  2. Content Licensing and Repurposing:
  • Negotiating licensing agreements for event recordings.
  • Repurposing event content for on-demand access.
  • Creating online courses or webinars from event material.
  1. Membership and Subscription Models:
  • Establishing a membership program for ongoing engagement.
  • Offering exclusive perks and content to subscribers.
  • Building a loyal community through recurring revenue.
  1. Feedback and Analytics for Improvement:
  • Gathering attendee feedback for future event enhancements.
  • Analyzing event data to identify successful revenue streams.
  • Continuously iterating and improving monetization strategies.
  1. Legal and Ethical Considerations:
  2. Transparent Pricing and Policies:
  • Communicating clearly with attendees about pricing structures.
  • Establishing refund and cancellation policies.
  • Ensuring compliance with consumer protection laws.
  1. Data Privacy and Security:
  • Implementing robust data protection measures.
  • Clearly communicating data usage policies to attendees.
  • Complying with relevant data privacy regulations.

The year 2023 presents a promising landscape for event organizers to capitalize on the pent-up demand for in-person gatherings.

By understanding the diverse avenues for event monetization, leveraging technology, and prioritizing attendee experience, individuals and businesses can not only create memorable events but also establish sustainable revenue streams. As the events industry continues to evolve, the key lies in adaptation, innovation, and a deep understanding of the changing dynamics in this dynamic and exciting space.

 

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E-Business

HURIWA, CLO Protests Bill Asking Social Media Firms’ to Open Shops Nigeria

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Human Rights Writers Association of Nigeria (HURIWA) has opposed a bill seeking to compel major global social media companies to establish physical offices in Nigeria.

HURIWA, CLO Protests Bill Asking Social Media Firms’ to Open Shops Nigeria

The rights advocacy group urged the National Assembly to discard the proposed legislation, warning that it could become a tool for censorship and undermine citizens’ constitutional right to freedom of expression, despite being presented as a measure to strengthen Nigeria’s digital economy and improve corporate accountability.

The position was contained in a presentation submitted yesterday by Emmanuel Onwubiko, national coordinator, HURIWA, to the chairman of the Senate Committee on ICT and Cyber Security.

The bill, sponsored by Senator Ned Munir Nwoko, has already passed second reading in the Senate and is before the committee for further legislative consideration.

HURIWA said it carefully reviewed the proposed legislation and concluded that compelling global technology companies to establish offices in Nigeria was unnecessary and potentially counterproductive.

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The organisation argued that while the firms generate substantial revenue from Nigeria’s vast digital market, they already engage Nigerians through existing structures, including paying eligible content creators, working with local technology professionals and participating in legal proceedings whenever required.

According to the group, appointing local representatives where necessary would adequately address concerns about engagement with regulators and users without forcing the companies to maintain physical offices.

It also dismissed claims that mandatory country offices would significantly improve consumer complaint resolution, technology transfer or employment generation.

HURIWA maintained that the platforms already have effective feedback mechanisms for resolving users’ complaints and routinely appear before Nigerian courts through their representatives whenever litigation arises.

The group, however, said its greatest concern was the potential for the proposed law to be used as an instrument for restricting freedom of expression.

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It argued that establishing local offices could expose global social media companies to pressure from government authorities to remove online content considered critical of those in power.

According to the rights group, the presence of social media companies in Nigeria could become an avenue for authorities to pressure them into abandoning internationally recognised digital rights standards in favour of politically motivated content moderation.

It recalled previous attempts to regulate social media in Nigeria that generated widespread concerns over possible restrictions on free speech, stressing that any legislation affecting the digital space must contain clear safeguards against abuse.

The organisation warned that the proposed law should never become “a backdoor mechanism for government surveillance, arbitrary content removal or political censorship.

 

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Nigeria Leads Africa in Online Gambling Regulation – GCI

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Nigeria has emerged as one of Africa’s most regulated online gambling markets, even as illegal operators continue to dominate the continent, according to a new report by Gaming Compliance International (GCI).

Nigeria Leads Africa in Online Gambling Regulation - GCI

The report, the first comprehensive assessment of online gambling across all 54 African countries, showed that Africa’s online gambling Gross Gaming Revenue (GGR) reached $23 billion in 2025.

However, only $5.2 billion (23 per cent) was generated by licensed operators, while $17.8 billion (77 per cent) remained in the unregulated market.

In West Africa, total online gambling revenue rose to $4.8 billion in 2025 from $4.3 billion in 2024. Of the 2025 figure, regulated operators accounted for $1.5 billion (31 per cent), while $3.3 billion (69 per cent) flowed to unlicensed platforms, highlighting the region’s persistent enforcement challenges.

Nigeria stood out as the region’s strongest performer, recording the lowest unregulated market share at 56 per cent, compared with the West African average of 69 per cent and the African average of 77 per cent.

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The study also found that online gambling participation across Africa increased from 198 million people (13 per cent of the population) in 2024 to 215 million (14 per cent) in 2025.

Despite this growth, GCI estimated that illegal operators deprived African governments of about $3.55 billion in tax revenue in 2025. The number of unlicensed gambling platforms targeting African consumers also rose to 4,129, up from 3,644 in 2024.

Commenting on the findings, Matt Holt, chief executive officer, GCI, said the report provides regulators with the first continent-wide benchmark for strengthening oversight and consumer protection.

Ismail Vali, president, GCI, urged governments to develop competitive and well-regulated markets that encourage consumers to patronise licensed operators, boost public revenue and attract greater investment.

Online gambling in Nigeria is regulated by the Nation Lottery Regulatory Commission.

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Kaspersky Warns Mobile‑data Buyers about Scammers Posing as Telecoms Operators

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At the height of the Northern Hemisphere tourist season, demand for communications and mobile Internet services rises sharply. Kaspersky’s security experts have uncovered scams that target anyone purchasing mobile connections or SIM cards worldwide.

Fraudsters create counterfeit websites that look like the portals of major regional and international telecom providers to trick users into revealing their phone numbers, personal details or banking information.

Kaspersky is sharing several examples of these fake login pages that mimic legitimate telecom operator sites and giving recommendations on how not to be deceived.

In the first case, scammers exploit the brand name of an international telecommunications company operating services in Asia, Africa and Europe. Fake authentication pages encourage users to put in their phone number and credentials.

While the first example shows the different design, the second scam site closely mimics the original log in page, making it hard for users to tell the difference and spot a fake. Entering authentication or payment data on fraudulent web sites may result in money or data loss and become a reason for more frequent spam and fraudulent calls.

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Another example is a scam page which poses as another international communications company, working in North Africa, the Middle East and Southeast Asia. In this scheme scammers encourage users to top up their mobile data/Internet plans by entering their personal information and bank cards details.

Kaspersky experts have also identified a scam when cyber criminals suggest users enter their personal data to check and pay a bill inquiry. Such scam schemes are usually aimed at gaining victims’ personal data for further fraud or account hacking and stealing money.

“Because of the active use of AI, scammers can now create fake pages with ever increasing accuracy and speed, targeting the most popular user interest areas. We constantly see scams revolving around sports events, music concerts, seasonal sales and holidays. Unfortunately, the telecoms industry is no exception.

To keep your data and money safe, be vigilant when purchasing mobile or Internet plans online. Using an eSIM – purchased through an official app – is one way to avoid fake telecom sites, as it eliminates the need to enter personal details on questionable web pages.

If you’re unsure about a site’s legitimacy, search for the brand name directly in a search engine and enable a security solution that blocks phishing links for you,” comments Tatyana Kulikova, cybersecurity expert at Kaspersky.

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