TSNN Interview: UBM CEO Tim Cobbold Talks ‘Events First’ Strategy
March 2, 2017
As part of its ‘Events First’ strategy, U.K.-based UBM made huge leaps in 2016, as it continues to realign its overall portfolio with the completed sale of its PR Newswire division and the acquisitions of Allworld Exhibitions, Content Marketing World and Business Journals, Inc., to name a few.
The company’s annual earnings report recently was released, indicating the events division was up last year to $874 million, compared with $775 million in 2015.
In North America, 2016 revenues were up to $363 million, compared with $303 million the year before.
UBM’s CEO Tim Cobbold took time from his busy schedule to discuss with TSNN how the company’s exhibition division is thriving and the road ahead.
TSNN: Can you tell me how the “Events First” is evolving?
“’Events First’ (established in 2014) essentially was born at the time to focus UBM as a group on events solely,” Cobbold said. “We wanted to focus on one thing. We are an events business now, and our focus is driving performance for our customers and understanding the needs of our customers.”
TSNN: UBM has made several key acquisitions in the U.S., why is this an important market?
“The U.S. is a tremendously important market for us. We want to be the best player in the North American market,” Cobbold said. “We absolutely are ready to continue to make acquisitions. Private equity is back with a vengeance, so prices are a bit higher now.
Cobbold added that with buys in the U.S., such as Business Journals, Inc., UBM was able to consolidate it into the existing Advanstar fashion portfolio, and other events, like Content Marketing World, represented a fast-growing sector and “generated good returns in the year.”
TSNN: What does UBM look for in a new acquisition?
“The way we look at it, whether it’s an event or portfolio of events, is the first thing we look at is the quality of the event. Is the event good? It’s not just about building a platform.,” Cobbold said.
He added that the Allworld acquisition, for example, was a perfect fit into the existing UBM portfolio. “They have 8 sectors they operate in and 11 countries as well,” Cobbold said. “UBM operates in 7 of these sectors and 10 of the countries. It was a high price, but (they are) pure-play events, which is super attractive.”
TSNN: Are there other ‘new’ regions of the world UBM might be targeting for further growth?
“We are very happy with our geographic spread,” Cobbold said. “Our biggest white space is the Middle East.” He added that 11 percent of Allworld’s portfolio is in Bahrain and Kuwait. “Dubai is a good market,” Cobbold said. “Would we like that? Yes, but nothing specific.”
TSNN: What’s next for UBM in 2017?
With macro-economic and geo-political uncertainty worldwide, Cobbold said right now there is a “talk and heat and light generated with that talk”, but they are choosing to focus on the “business of our customers” instead.
He added, “It makes sense (though) to be monitoring closely and make sure we are thoughtful and flexible in the case of things happening.”
Partner Voices
Here at Mandalay Bay, venues are inviting and innovative. As one of the most iconic names on the Las Vegas Strip, the Mandalay Bay Convention Center has recently undergone an exciting upgrade. This renowned venue now offers everything your business needs, with a refreshed convention space designed to inspire productivity and creativity, as well as an impressive selection of world-class restaurants and amenities. If you're searching for a venue that is both inviting and innovative, Mandalay Bay is the place to be.
Mandalay Bay is committed to investing in a new wave of enhancements, not only in the convention space but also throughout the entire resort. With new restaurant openings and remodels, spectacular entertainment, and updated rooms, Mandalay Bay promises to deliver new and exciting experiences to its guests until 2024.
To create a truly effective conference venue, Mandalay Bay has carefully considered what businesses require. The right technology, capacity, and inspiration are essential to take ideas to the next level. The refreshed Mandalay Bay Convention Center has been designed with your business in mind. Every room is equipped with newly-upgraded technology, enhancing our ability to support bandwidth demand and overall data capabilities. Additionally, the addition of 10 new digital walls provides bigger and more dynamic ways to display customized content messages.
Mandalay Bay offers world-class conference space and service. The venue options range from ballrooms to ample pre-function spaces, catering to teams of any size while accommodating multiple large groups simultaneously. Our certified planners work collaboratively with you to understand your specific event requirements, anticipating your business needs and offering the best-fit solutions.
In addition to providing exceptional conference facilities, Mandalay Bay is also dedicated to sustainability. We strive to give our guests an unforgettable experience while minimizing our impact on the environment. As part of our sustainable energy efforts, you'll find refillable water stations throughout the property, eliminating the need for single-use plastic bottles and reducing unnecessary plastic usage.
Mandalay Bay is proud to offer an upgraded and enhanced experience for businesses seeking a venue that combines innovation, convenience, and sustainability. Whether you're hosting a conference, meeting, or other business event, Mandalay Bay's refreshed convention space, world-class service, and commitment to sustainability make it the ideal choice. Come and discover the new wave of experiences awaiting you at Mandalay Bay on the Las Vegas Strip. Wherever your organization is going, getting there starts with being here.
Add new comment