The Pulse surveys current industry challenges this week with revenue concerns on top

 Posted on: April 15 2020
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This week, Sports ETA members shared their thoughts on the biggest challenges facing them and their organizations in responses to The Pulse.

The biggest challenge is budget and funding as revenues are uncertain amid the COVID-19 pandemic. To build upon this research, Destinations International (DI) is taking a weekly pulse check on the industry and you can reference it here. According to the DI research, the majority of destination organizations anticipate some kind of shortterm budget cuts, with most expecting cuts in the range of 20-50%.

The uncertainty of future events is a concern of nearly half of all respondents. If you're concerned about event contracts and insurance, we have a resource to help. Click here for a webinar from law firm, Buchalter, featuring a panel of experts in insurance and law on issues related to event cancellations and insurance recovery for businesses of all sizes.

Labor and employment issues are a concern as well. According to DI, destination organizations are looking to cut costs in a variety of ways, with the most popular being reduction of professional development. Click here to see how the industry is responding to employment matters.

So what does this mean for you and your organization?

The dust is still unsettled in our industry. Uncertainty in business is affecting organizational budgets and impacting labor decisions.

Without a clear timeline for commencing travel, business decisions are continuing to be impacted on a daily and weekly basis. The coming two to four weeks should be particularly telling for the industry and how it recovers from the COVID-19 crisis.

We have heard you and are updating the webinar content schedule. 

Amid the COVID-19 crisis, Sports ETA has pivoted and reset its webinar series to guide the industry and its membership to recovery mode. You told us that you want to hear from experts in these area and we will program accordingly. All webinars are free and registration is available here.

1. Financial Recovery
2. New Normal Protocol After Quarantine (how to safely re-open, new sanitization protocol)
3. Creative Budget and Funding Ideas (During quarantine)
4. How to Pursue Future Events (How to advertise, talk with clients, etc.)
5. Rights Holder's Perspective (How to talk with rights holders as well, challenges they're facing, etc.)
6. Virtual Event Ideas (How to hold a virtual event, ideas, best practices, etc.)

Industry Sub Groups announced

Members also mentioned in this week’s The Pulse the importance of staying connected to others in their industry and interest. To meet these needs, Sports ETA has launched Industry Sub Group meetings and programs, and is in the process of finalizing the meeting dates and times. Please check the website for future meeting dates for the sub groups in which you have interest.

Here is the full listing and leadership for each.

Small and Mid-Market Network
Led by Frank Lett, Kingsport CVB; Ashleigh Bachert, Tulsa Sports Commission; and Derek Bombeck, Lincoln CVB with staff support from Meagan Grau
Meeting dates: Every other Thursday at 4 p.m. ET, next meeting April 23

State Associations
Led by Bonny Bernat, Visit Winston-Salem; and Terry Hassletine, Maryland Sports Commission with staff support from Meagan Grau
Meeting dates: Every other Thursday at 1 p.m. ET, next meeting April 23

Women's Leadership
Led by Linda Logan, Greater Columbus Sports Commission with staff support from Michelle Wessels.
Details will be forthcoming.

Young Professionals
Led by Ariana Tyler, Greater Columbus Sports Commission; and Luchie Javelosa, Visit Tucson with staff support from Michelle Wessels
Meeting dates: Second Thursday of every month at 2:30 p.m. ET, beginning May 14

Suppliers/Industry Partners
Led by Hank Pivarnik and Daniel Rush, MGM Resorts with staff support from Janis Ross.
Details will be forthcoming.

Rights Holders
Led by John David, USA BMX; and Christine Simmons, USA Fencing with staff support from Janis Ross.
Details will be forthcoming.

Additional Sub-Groups are being formed to support these areas of interest:
• Economic Impact Calculator
• Mentor
• Facilities

Thank you for your industry leadership and response to The Pulse.


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