By Joel Edmondson, VMA CEO
At the recent (amazing!) Venue Management School, I gave a brief talk on my initial thoughts on the future of venue management and the future of the VMA. I’m now three months into my role as VMA CEO, and it felt like the time was right to share some insight into my initial thinking about where things might be going.
To be a successful leader in this type of role, you need to be able to inspire people with a compelling vision of the future of the organisation they’re part of. But to do that successfully, you have to be able to develop a shared understanding of what is actually going on in the world. While the future strategy of the VMA is not yet ready for consultation with members, it is timely to share some thoughts about the key megatrend that I think will shape our future.
As with my previous Meditations on Venue Management blogs, I’m inspired by a set of ideas that come from outside the standard venue management discourse, and I share them as a way of elevating our sense of who we are as an association and what the possibilities are for our development.
TLDR: A new vision of the venue management industry
The future of venue management will not be defined by competition but by collaboration. Venues will need to work together—across sectors, geographies, and disciplines—to solve common challenges and create new opportunities. The VMA is uniquely positioned to lead this transformation, serving as the backbone of a networked industry. This is because we already have a very strong professional network, one that is now ripe for an evolution into a more integrated and collaborative model.
This shift is not just about adapting to change; it’s about embracing a new way of thinking, being and doing that responds to the increasing interconnectedness of our world. By leveraging the existing strength of the venue management industry’s professional network, the VMA can help its members move beyond individual success to collective progress, ensuring that the venue management industry thrives in a networked world.
Networks: The New Power Structures
My view of the future is very much informed by the writings of a lesser-known Silicon Valley investor, technologist and thinker, Balaji Srinivasan. Balaji writes mostly about the interrelated concepts of technology, trust and community. His most visionary idea – articulated in his book The Network State – is that the ‘countries’ of the future will be vast, decentralised networks of people whose collective power comes from their shared commitment to a common purpose. He argues that networks driven by shared values and a common purpose will become the primary mode of organization, replacing legacy systems (especially in relation to corporate and government organisations) that are increasingly seen as outdated or ineffective.
The increasing interconnectedness of the world will ultimately result in approaches to business that reflect, honour and capitalise upon that interconnected reality.
The rise of networks as a dominant force is evident across society, and has been highly visible in the news of the past fortnight:
- Political Movements: The success of MAGA in the U.S. demonstrates how decentralized, value-driven networks can disrupt traditional power structures. Fueled by social media and grassroots energy, MAGA bypassed traditional political institutions to create a movement that reshaped the U.S. political landscape.
- Decentralized Economies: Bitcoin and other cryptocurrencies illustrate how networks can redefine financial systems. With a market capitalization of $1.7 trillion, Bitcoin has become the world’s 7th largest asset, surpassing even some of the largest corporations and national economies. This meteoric rise underscores the power of decentralized, trustless networks to challenge legacy financial institutions. Bitcoin operates independently of central banks and governments, powered instead by a global community united by shared values and technological innovation.
These examples highlight the growing importance of networks in organizing people and resources. Unlike top-down hierarchies, networks thrive on shared purpose and interconnectedness—principles that align with the evolving role of the VMA. Industry associations have been around forever, but organisations like the VMA will take on new importance and relevance in this future landscape, facilitating a process of industry development core to the way venues and allied members will do their everyday business. The association’s ability to foster collaboration, promote shared values, and serve as a trusted intermediary will make it indispensable in the years ahead.
It’s worth noting again that venue management is already a highly collaborative industry and extremely well-positioned to ride this next wave of social innovation.
A Shift from Competition to Collaboration
Despite having a collaborative interpersonal culture, venue management remains a competitive business, with venues battling for bookings, talent, and market share. However, the future of the industry lies in collaboration, not competition. This shift is driven by:
- Shared Challenges: From sustainability to audience expectations, the issues facing venues today require collective solutions. No single venue can address these challenges alone. We are challenged with increasing resourcing limitations and will become more reliant on each other solve problems.
- Technological Interconnectedness: Digital tools and platforms make it easier than ever for venues to share data, resources, and insights. The VMA can act as a facilitator, enabling members to leverage these technologies for mutual benefit.
- Audience Demands: Modern audiences expect seamless experiences that often involve collaboration between multiple venues, promoters, and service providers. A collaborative approach ensures that the industry meets these expectations. We should never forget that we share the same customers – a great experience encourages further attendance across all venues, while a failure to deliver that at one venue has ripple effects across others.
Innovation and Continuous Improvement
One of the most critical ways the VMA might drive progress is by facilitating innovation and continuous improvement. Industry-wide challenges—such as climate resilience, safety protocols, and adapting to new audience behaviors—require solutions that transcend the capabilities of any single commercial entity. The VMA is uniquely positioned to lead this charge by:
- Pooling Resources and Expertise: Through forums, workshops, and collaborative initiatives, the VMA can bring together the best minds in the industry to tackle complex issues, from sustainability to technology adoption.
- Incubating Ideas and Testing Solutions: The VMA can serve as a testing ground for innovative practices, creating a space where members can experiment with new approaches in a low-risk, collaborative environment.
- Creating a Knowledge-Sharing Ecosystem: By fostering a culture of transparency and shared learning, the VMA ensures that successful practices and solutions are disseminated across the industry. This collective approach accelerates progress and avoids duplication of effort.
- Focusing on the Big Picture: Unlike individual venues, which may be constrained by short-term commercial goals, the VMA can take a long-term, sector-wide view. This perspective allows it to address systemic challenges and ensure the industry is future-proofed.
Through its role as an innovation hub, the VMA could help the industry continuously evolve, ensuring that venues remain relevant, resilient, and responsive to changing conditions.
Why the VMA Matters More Than Ever
The global shift toward networks underscores the growing importance of organisations like the VMA. As the industry becomes more interconnected, the VMA’s role as a facilitator and leader of collaboration will only expand. Here’s why:
- Building Shared Value: The VMA can help venues see that collaboration benefits everyone. When one venue succeeds, it creates opportunities for the entire industry. By fostering a culture of shared value, the VMA ensures that its members are stronger together.
- Driving Innovation: The VMA can lead the charge in adopting new technologies and practices that enable collaboration, efficiency and customer experience, positioning the industry as a leader in innovation. Importantly, venue innovation is key to the sustainability of the events sector; our hirers are often less resourced to tackle innovation challenges, but their continuous improvement is key to our own financial sustainability.
- Adapting to Change: The VMA can help its members navigate the rapid changes facing the industry, from technological disruption to shifting audience expectations. By providing education, resources, and support, the VMA ensures that its members are prepared for the future.
- Individual organisations will still have their own fiduciary responsibilities: The industry will need a discrete resource like the VMA to coordinate and facilitate collaboration, with the day-to-day core business of venue and event management remaining the core activity of venues.
Conclusion: A Networked Future for Venue Management
The future of venue management is being shaped by the same forces redefining industries and societies worldwide: interconnectedness, shared challenges, and the power of networks. As these forces continue to evolve, the VMA is uniquely positioned to become a central hub for collaboration, innovation, and continuous improvement in our industry.
By pooling resources, fostering shared learning, and focusing on long-term, systemic challenges, the VMA can help the venue management industry not just adapt to change but thrive within it. The association’s role in driving innovation, facilitating cooperation, and supporting members in navigating an increasingly complex landscape will be indispensable in the years ahead.
This vision isn’t about replacing the competitive dynamics of individual businesses but about recognizing the power of collective progress. Venues that collaborate can elevate audience experiences, tackle shared challenges like sustainability and safety, and ensure the vitality of the events sector as a whole.
As the new VMA CEO, I’m excited to explore this future with our members, evolving our professional network into a more integrated and collaborative model. Together, we can ensure that the VMA leads the way in defining what it means to succeed in a networked world—one where collaboration is not just an option but a necessity for progress. The VMA’s best days are ahead, and I look forward to shaping that journey with you all.