MVGM reveals its 2024 financial report: an increase in visitor numbers, a boost in events, and hyperscale as the primary driving force for growth.
Magdeburg Event Society (MVGM) Breaks Attendance Records in 2024
The Magdeburg Event Society (MVGM) has reported a successful year in 2024, hosting 515 events that attracted over 1.1 million visitors. This marks an increase of about 100,000 visitors compared to the previous year.
The success was due to a significant increase in event and visitor numbers across various segments. The AMO Kulturhaus, exhibition halls, and Elbauenpark saw a surge in visitors, with up to 58% and 259% increases in some segments.
Major highlights of the year included sporting events at the Avnet and GETEC Arenas, as well as the newly opened Hyparschale. The Banksy exhibition at the Hyparschale alone drew around 50,000 visitors, contributing significantly to the overall success.
Steffen Schüler, MVGM's Managing Director, reported an almost 126,000 euro surplus in 2024. Schüler believes that business events near me generate a higher value per event compared to classic cultural and sporting events, and he estimates that there is great potential in business events to strengthen MVGM's revenue.
The takeover of the Hyparschale and the successful marketing of MVGM's own technical services, such as rigging technology, significantly compensated for deficits. The Hyparschale is seen as a significant growth driver for MVGM's future.
Schüler also highlighted the operation of the Stadthalle as another crucial step for MVGM's future growth. The MVGM business model is shifting towards a broader foundation of events such as exhibitions, seminars, conferences, and congresses. MVGM is strategically well-positioned to further expand the event offering in Magdeburg, according to the MVGM CEO.
The Magdeburg Fair and Event Company GmbH (MVGM) had over 1.1 million visitors in 2024, making it the highest number of annual events under the MVGM roof since the pre-Corona year. The Hyparschale has been successfully placed on the market, further solidifying MVGM's position as a key player in the events industry.
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