NAB Show 2024: What You Can Expect in Las Vegas
NAB Show 2024 starts this weekend and promises to be better than ever. Here is a snapshot of what you can expect from the premier broadcast, media and entertainment industry event of the calendar.
Who’s Got the Biggest ‘For Sale’ Sign Up?
Make no mistake, this is an industry that is in dire straits. This was evident at last year’s IBC, with too many vendors chasing too few dollars. Since then, some companies have been given a lifeline with a much-needed cash injection, while others have been acquired. Those that fall in the latter category continue to struggle and are having to manage their integration at the same time as customer demand remains low due to sales cycles being extended further.
What is striking is that numerous analyst forecasts seem to portray an optimistic outlook with the suggestion that YoY revenue growth or customer-spend is on the rise. The reality is very different. There is a clear disconnect here, as any time spent on the show floor at IBC or NAB will tell you. While people might still be talking a good game, no one currently has a million dollars spare to invest how they wish. The company CFOs are calling the shots and are driving efficiencies through significant job cuts. Expect this to continue.
As a result, it would not be surprising to see M&A news from some companies at the show. Having said this, companies are shifting focus towards new areas of growth with Artificial Intelligence (AI) proving to be the holy grail. As I’ve said repeatedly, AI has now replaced the word ‘smart’ in marketing campaigns and press releases.
On a positive note, it is encouraging to see the South Hall reopen again this year, which will host the Create strand. Unfortunately, the North Hall will be closed due to renovation.