BUSINESS EDU continued
Website/Platform ▪ Production ▪
Geographic Origin ▪ Repeat Attendance ▪ Industry Submissions ▪
Security ▪ Permits ▪
Food And Refreshments And Other Catering Expenses ▪ Don't assume ticket sales will pay for the festival. Sponsorship and partnerships should be part of the financial model from the beginning. When developing an economic model, it is important to identify what success looks like across a number of categories. For example, if you will rely on sponsors to underwrite the cost of the event, how many sponsors do you need? Make sure you clearly understand how many attendees and sponsors will be needed to cover your costs and ensure a suc- cessful event. Examples of key success factors might include some or all of the following: Audience
Countries Represented ▪ Filmmakers Attending ▪ Industry Professionals Attending ▪ Financial Sponsorship Revenue ▪ Ticket Revenue ▪ Cost Per Attendee ▪ Mission Conservation Dollars Generated ▪ Volunteer Participation ▪ Students Reached ▪ Conservation Projects Supported ▪ Digital Followers ▪ Video Views ▪
Total Attendance ▪ Unique Attendees ▪
Email Subscribers ▪ Online Film Views ▪ In Summary, The Biggest Strategic Question
If you're considering creating an underwater film festival, the right question is not "How do we put on a film festival? " but, rather, "What could make this the premier underwater film festival in the world?" A truly differentiated festival could be a combination of several things (e.g., Film Festival, Ocean Expo, Conservation Event, Diving Festival, Destination Experience, etc.) rather than simply a film festival that screens several videos. And if you're thinking about doing this in a specific location, the location itself could provide a very interesting differentiator because you could build the festival around local marine history, wrecks, artificial reefs, fisheries, conservation, and underwater exploration while still attracting international filmmakers. Depending upon the scope of your event and the staff resources and monetary assets available to help produce the event, your event could be a small event on a Saturday night for your local dive club or it could be an international event that spans several days. Regardless, the considerations outlined above are applicable
to all types of events and will help you produce a film festival for the underwater community that will achieve success and will attract attendees for years to come.
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50 | SCUBA DIVING INDUSTRY
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