From Justin Bieber to Liverpool, live events in Singapore are back with a vengeance
Plain vanilla shows will face enormous competition from well-produced, multi-casted content that fans can enjoy online
By Lionel Yeo
LIVE events have returned to Singapore with an assuredness and a vengeance. There is a stellar line-up of international artistes such as Justin Bieber, Jay Chou and A-Lin performing here later this year. There are major sporting events featuring mixed martial arts action by One Championship and Ultimate Fighting Championship, as well as English Premier League clubs Liverpool and Crystal Palace playing at the National Stadium on July 15.
Singapore will host Dota 2’s The International 2022 e-sports tournament in October, its first in South-east Asia in the event’s 11-year history. All these signal a revival of live events, which is welcome news for fans and the industry alike. Singaporeans can soon expect more events to be announced for 2022 and 2023.
For the Singapore Sports Hub, we expect the number of major live events returning to the National Stadium for the financial year (FY) starting April 2022 to surpass that of FY2020. In the month since the lifting of most Covid-19 measures in Singapore, the number of tickets snapped up for events at the Sports Hub is 20 per cent higher than that for the first 5 months of 2019 combined. In fact, ticket sales are double that sold in the same period in 2019, which was our busiest year yet.
It’s hard to imagine that, just 2 years ago, Singapore faced a sobering reality of an unknown pandemic and a circuit breaker that seemingly faced no end. To add to the hard-hitting silence engulfing our streets and commercial facilities, live sports and entertainment events came to a halt too. With event calendars upended in 2020, the roars in spectator stands and jubilant highs from live events were sorely missed, as were the economic boosts once enjoyed pre-pandemic. According to PwC, in that 1 year alone, the global entertainment and media industry faced a US$81 billion drop in revenue.
To keep up with the changes and regulations, the Sports Hub pivoted like so many others to virtual and hybrid concepts, but nothing can quite replace the emotional experience and connection that live events offer.
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Venue operators have had to stay relevant in other ways too. When the Tokyo Olympics and Paralympics came round, training facilities and sports venues such as the OCBC Arena stayed open for national athletes. Beyond serving the sporting community, these venues did their part for the wider fight against Covid-19 as well. For example, the Singapore Expo and the Sports Hub converted their spaces to provide a safe home for thousands of migrant workers.
Two years on, we have regained some sense of normalcy. The live sports and entertainment industry is sprinting forward, making up for lost time. The habits we developed during our long “lockdown” and amid strict restrictions remain embedded in our psyche and behaviours.
Trends already brewing pre-pandemic, such as the shift towards digital products and online sales, have been accelerated by years. Consumers and businesses need to get onboard.
We will not merely be returning to the pre-pandemic status quo and there are important trends for industry players to adapt to.
Rise of e-sports
While many businesses struggled through the pandemic, the e-sports industry thrived. Online gaming was a source of distraction, competition and entertainment, and it grew exponentially during the pandemic.
In 2021, the first Singapore Global Esports Games event reported a record 4.4 million live views across its online and broadcast platforms. Singapore’s successes in the e-sports space have attracted much attention. Thomas Bach, the president of the International Olympic Committee, on his recent visit to Singapore, hinted that Singapore might host the inaugural Olympic Virtual Sports Festival in 2023.
Embracing virtual and hybrid experiences
Delivering personalised, immersive experiences that deepen fan to team or artiste interactions will bring virtual events to the next level. With Web 3.0 closing the experiential gap between virtual and physical events, and sports non-fungible tokens providing an avenue to extend fan engagement, hybrid events and merchandise look set to be part of the answer to a sustainable and scalable model for the sports and entertainment industry.
Cashless and contactless everything
Consumers spent plenty of time and money transacting virtually during the pandemic. When they return to live events, they will expect a seamless blend of digital services, from ticketing and reservations to the ordering of F&B, merchandise and transportation. Businesses that are ready to capture this market will win a greater share of our e-wallets.
Doubling down on blending live sports and entertainment
Plain vanilla live sporting events will face enormous competition from well-produced, multi-casted content that fans can enjoy online. It will not be lost on event organisers that fans now expect to be treated to a multi-sensory spectacle and a fabulous live experience when they attend in person. The pandemic has taught us that staying nimble is key to survival and success. Even as we cheer a return to large-scale live events, traditional business models in the sports and entertainment industry will need to continue adapting, and at an even faster pace, to stay ahead of consumer expectations.
The writer is CEO, Singapore Sports Hub
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