And the rich get richer.
New York Media Announces New Events Division
New York Events to Create, Sell, and Produce Consumer and Trade Events
New York, NY, March 18, 2008 New York Media (parent company of New York magazine, nymag.com, New York Weddings, and New York Look) has launched an events division called New York Events to create, sell, and produce consumer and trade events.
In creating this division, the company’s goal is to attract new business and sponsorships from Fortune 500 companies and to more completely serve the marketing needs of current advertisers. Sona Hacherian, executive director of creative and marketing services, will oversee the new division under publisher Larry Burstein. To support the new efforts the company has hired a sponsorship sales director, Lanny Morris.
One new event that the division already has underway is New York KidShop, a one-day shopping event focused on the children’s marketplace that will take place December 6, 2008 at the Altman Building. New York has teamed up with Kidding Consulting, the team behind the children’s trade show Bubble, to select which brands will be showcased at the event. Attendees will be able to shop at wholesale prices as well as partake in a variety of interactive family-friendly activities. Other 2008 events scheduled by the division include Taste of New York, Best Bets, and the New York by New York event series among others.
In creating the events division, New York Media is leveraging the power of the New York brand to tap into companies’ growing event sponsorship budgets (IEG estimates North American sponsorship spending will hit $16.78 billion in 2008, up 12.6% over 2007). While the events division will provide a separate and distinct revenue stream from the advertising division, the company expects some event sponsors will also end up advertising in the magazine or on nymag.com.