When asked what he is noticing in the industry, Marcus White, CEO of MCW Events, simply stated, “I’ve become a therapist. What we’re dealing with right now is hard and similar to the crash of 2008. No one saw this coming.” Everyone is experiencing some type of loss or uncertainty, and it’s crucial we take off our business hats and put on our human hats. Every industry in the world is dealing with the effects of this virus, and we need to take the time to work together, be empathetic, and find new ways to reach goals.
However, there is only so much time available to discuss potential solutions until we are forced to make decisions and prepare for the aftermath. Ebenezer Bond, Advisor, Creative Experiences for SXSW, shed some light on the obvious and devastating aftermath the SXSW cancellation had. It’s necessary to say that Ebenezer cannot speak on behalf of SXSW, but he was able to say the decision was extremely hard, and insurance carriers are stepping up to cover some losses.
While SXSW is the event in the spotlight right now due to sheer size, cancelling any event is a tough call. Marcus said it best: “We are a data-driven world, but this has to be a gut-feeling decision, and the call that makes you the most uncomfortable is probably the right one. If you feel uncomfortable moving forward with an event, that’s your gut telling you to cancel.”