Why two-thirds of awards stakeholders still want a black-tie dinner — and how organisers are stretching the night into a year-long campaign
Despite a decade of digital transformation across the events industry, the awards business remains stubbornly — and profitably — physical. According to the Business of Awards: 2026 Industry Insight report from Event Industry News and Evessio , 62% of stakeholders prefer fully in-person ceremonies , with hybrid formats taking 36% and virtual-only formats sitting at a negligible ~2%.
Sophie Eke , Chief Marketing Officer of Arc Europe , which runs 35 live award programmes, calls the format "almost bulletproof — as long as you get the right categories, the right judging panel, and you're marketing to the right people." Even post-pandemic, when much of the conferences and trade events budgets were squeezed, awards spending bounced back faster.
But the smartest organisers are not relying on a single night to do the heavy commercial lifting. Industry data shows ceremonies typically contribute 30–40% of total programme revenue , with the rest coming from entry fees, sponsorship and increasingly, year-round content packages.
Sarah Austin's British Business Excellence Awards is built as a 12-month journey, with finalist drinks at BAFTA, House of Commons receptions, and a four-week Dragon's Den-style judging process. "Some people think awards are about dressing up and clapping for a trophy. That's not what we do," Austin says. "Our finalists are engaged in a process that helps them grow — win or lose."
At the Professional Publishers Association , Managing Director of Commercial & Events Hannah Bray has reshaped the PPA Next Gen Awards into an integrated content campaign with online winner reveals, networking and year-long profile-raising for the 30 winners. "If you're a publisher, awards can be the campaign your content hangs from," she says.
Ben Flight of Arena International is more provocative. "Rather than aiming for 600 people and falling short, I'd rather host 350 and sell out," he says, pushing back against the "bigger is better" mentality. He also believes the format is undergoing a quiet revolution: "We're right in the middle of a tipping point. The old school black-tie model still has value, but it doesn't work for everyone. The future might be in tailoring formats — brunches, lunches, smaller gatherings, whatever works best for the audience."
For sponsors and entrants, the implication is clear. Independent research from Harris Poll cited by industry analysts suggests 75% of consumers are more likely to choose an award-winning company over its competitors — but only when the recognition is credible and the winner amplifies it through PR, content and social. The trophy is the trigger; the year-round campaign is what compounds the return.