LCA Presents European Industry Survey

Monday, 29.01.2024
The sixth edition of the survey establishes a pre- and post-covid benchmark by comparing data from 2019, 2020, and 2023.

The sixth edition of the European Industry Survey has been published; photo: Khanchit Khirisutchalual/iStockphoto

LiveCom Alliance, the independent European institute for live communication, presents the sixth edition of the European Industry Survey, conducted by the German R.I.F.E.L. Institute, aiming to capture trends and economic drivers in the live communication industry.

“A resilient industry”

The LCA study establishes a pre- and post-covid benchmark by comparing data from 2019, 2020, and 2023. Surveying 233 companies across eight member countries, the results reveal a resilient industry with a slight decrease in turnover (-10.3%), a minor increase in employment (+0.5%), and a substantial rise in projects (+26.5%).

Challenges include achieving sufficient returns and coping with increased costs due to inflation. Respondents anticipate a significant increase in employment and growth in customers’ live communication budgets.

Critical trends for 2024: AI and sustainability

Sustainability and artificial intelligence are highlighted as critical trends for 2024, alongside new business development and individualization. The industry emphasizes creativity, interpersonal skills, and self-management as essential for future work. The survey underscores the event industry’s resilience and its revaluation, with 64% of chief marketing officers recognizing live communication as crucial, 71% valuing face-to-face interactions, and 65% considering events a major marketing trend.

The full report provides detailed insights into agency payroll, turnover breakdowns, freelancer rates, and clients’ forecasting. The European Industry Survey aims to comprehensively overview the live communication industry in the world’s largest free-trade area, with future editions planned regularly.