Dow Jones eyes Middle East expansion with new WSJ event
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WSJ reporter Andrew Beaton on stage at WSJ's Tech Live event interviewing Colin Kaepernick on Oct. 21. Photo: WSJ
Dow Jones is expanding the Wall Street Journal's flagship Tech Live event to Qatar next year as a part of a broader effort to build its business in the region.
Why it matters: "All of our verticals are growing in the Middle East," said Josh Stinchcomb, global chief revenue officer at the Journal.
- The invitation-only conference will bring together an audience of over 200 executives, technologists and investors globally over the next five years.
- It was announced on stage Tuesday at the Journal's Tech Live event by Dow Jones CEO and WSJ publisher Almar Latour and a Qatari government official.
The big picture: More publishers are bringing premium live events to the Middle East to tap into investment and ad opportunities.
- Semafor launched a Gulf-focused editorial franchise earlier this year and plans to bring its events to the region next year.
- Axios expanded its Axios House to the United Nations Climate Change Conference (COP28) in Dubai last year.
- The Journal's Tech Live conference this year had a record 13 sponsors, three of which came from the Middle East.
- "We're seeing a really interesting play being made by a number of the countries in the Gulf region around technology," Stinchcomb said.
"This is a place where the Dow Jones business could get much bigger," he said. Editorially, the evolution of the Middle East as a business and tech is "a story that our readers in the U.S. and elsewhere need to better understand."
- Dow Jones' enterprise businesses are also experiencing huge organic growth in the region, despite the fact that the company has "a relatively small physical footprint in the region itself," Stinchcomb said.
Zoom out: Like many publishers, the Journal has doubled down on live events in recent years to expand its business and audience.
- Over the past five years, revenue from the Journal's events business has grown 60%, per Stinchcomb.
- Driving that growth is not only bigger sponsorship packages, but also new sponsors that are interested in events linked to other parts of Dow Jones' portfolio, including its risk and compliance and energy businesses.
What to watch: The expansion of WSJ Tech Live to Qatar builds on the success of a broader events franchising strategy at the WSJ.
- The company has established its marquee Journal House at several global conferences, including Cannes Lions in Southern France, the World Economic Forum in Davos and the UN General Assembly's Climate Week in New York, as well as a multiday conference in Singapore.
- WSJ Tech Live, now in its 11th year, has become of the company's most lucrative events. Its revenue doubled this year, Stinchcomb said.
- The Journal's other major event franchises are seeing similar growth. The company forecasts a 12% year-over-year sponsorship revenue increase for its CEO Council Summits franchise and saw a 25% increase in sponsorship revenue for its Future of Everything Festival in New York.
Editor's note: This story has been updated with Almar Latour's correct titles.
