Heather Mason on Building Your Own Event

Welcome to Event Business Intelligence, your weekly source for deep dive insights on growth, strategy, measurement, innovation and M&A for owners of event businesses and executives responsible for event P&Ls.

In today’s newsletter:

• April 11 webinar on M&A for DMCs & Event Agencies

• Concept and inspiration behind the Impact Lounge

• Pros and cons of co-locating with marquee events

• How the Impact Lounge makes money

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Notable News

• I’ll be moderating a webinar for SITE (Society of Incentive Travel Excellence) on Friday, April 11th. The topic is The State of M&A for DMCs and Event Agencies, and will feature:

  • Trevor Hanks | CEO at 360 DMC

  • Sunny Irvine | Managing Director at Terramar

  • Kim Kopetz | President & CEO at Opus Group (the subject of this article)

  • Andrey Vakhovsky | Managing Director at H.I.G. Capital

• Next week I’ll be at the SISO (Society of Independent Show Organizers) CEO Summit in Austin, TX. If any of you will be there I’d love to meet up. Just LMK.

• The merger of CSI DMC and 360 Destination Group to create one of the largest DMCs in the world is a blockbuster deal with ramifications for the events industry on several fronts. I had a great call last week with CSI President & Principal Hope Valentine to get her take on the deal, and will be catching up with Trevor next week. Look for a detailed breakdown of the deal in a future article.

  • Kudos to my colleagues at Oaklins | DeSilva + Phillips for representing CSI in the sale.

• Last week’s post, The Lights Are Flashing Red. Again got a ton of engagement, and I’m glad to see more people posting about the impacts they’re experiencing from the Trump administration’s policies. Nicola Kastner followed up her “I’m Concerned” Linked In post with a series of guidelines on how to prepare and respond. This is an evolving story, but one of the latest trends I’m seeing is countries issuing travel advisories for coming to the U.S. Any restrictions are of course problematic, but the general “not welcome” message is even more so. Hospitality and events thrive on bringing people together, and any friction inserted into that process is not good.

Putting Your Money Where Your Mouth Is

Event agency leaders are constantly extolling the virtues of events . . . to other people. Rarely, however, do we take our own advice. If events are so good at achieving business goals, and offer such strong ROI (even if we can’t always measure it perfectly, but that’s another batch of posts), it begs the question: why don’t we do them ourselves and put our money where our mouths are?

Heather Mason, Founder & CEO of Caspian Agency, is one of the few exceptions who’s walking the walk. Last year she launched The Impact Lounge, an event series bringing together filmmakers and changemakers who use storytelling to drive societal change. The events are held in conjunction with marquee festivals and gatherings like the Sundance Film Festival, SXSW, Cannes, UN General Assembly Week, and The Oscars, though Mason has already started expanding into stand-alone events.

I came to know her several years ago, when we co-presented an Event Design Lab for a group of corporate planners. I also found out she’s one of a small handful of people in our industry who love Monty Python. (“How do you know she’s a witch?” “She looks like one!” IYKYK). Caspian Agency specializes in producing high-end events for NGOs (non-governmental organizations) like the Rockefeller Foundation, Skoll Foundation, and Omidyar Network.

I think more event agencies should consider launching their own proprietary events, and Mason’s story can serve as inspiration, so I invited her to share it here.

Concept

What exactly is the Impact Lounge?

The Impact Lounge unites Changemakers and Filmmakers for content, conversation, and connection. Much like SXSW, where tech, film, and TV intersect, our strength lies in the crossover—filmmakers seek compelling stories, and changemakers need powerful storytelling. We bring this dynamic lounge to key events where these groups converge, such as Sundance, Cannes, the UN General Assembly/Climate Week in NY, and Austin during SXSW, with plans to expand our roadmap further.

What was the inspiration behind creating the Impact Lounge?

I founded Caspian Agency on two pillars - strategy and working with people who were changing the world for good. Because of this Caspian became known as a specialist in producing global gatherings for large foundations focused on changemakers. But, my first career was in the movie industry. I wanted to be a movie producer, not an event producer. So this is a way to combine both my current career with my first love. And I also think it’s a valuable way that I can add to meaningful change. Plus, I’m an aspiring screenwriter and of course, all my stories have a subtext of sustainability.  

What kind of synergies are there between it and Caspian? E.g. is it helping grow Caspian’s client base?

The Impact Lounge highlights our strength in both event design and content programming, not just logistics. We intentionally take on projects where we can shape branding or content, as that’s where we add the most value. So this platform not only demonstrates our excellence but because of our sponsorship activations, it has also expanded our reach into corporate events—an area we’ve wanted to grow beyond our strong foundation in social impact.

Co-Locating Strategy

Thus far you’ve been hosting the Impact Lounge concurrently with other major events. Do you have plans to do one on its own?

We hosted a brand extension on its own - the Lumen Awards - in Los Angeles, a few days before the Oscars. That had an overwhelming turnout and generated plenty of enthusiasm, showing that these types of breakout events work. Another extension was our Pull Focus conference we hosted just prior to the Sundance Film Festival - also filled to capacity. So these extensions could live on their own eventually. 

There are a growing number of events that have sprung up as “bolt-ons” to other major events and festivals, like The Female Quotient. Are you seeing this as a growing trend?

We normally talk to our clients about doing what we call “barnacle events.” These can draw on the success of an event, and draft off the audience that you want to curate but is already done for you. This provides much less risk that starting something on your own and trying to draw people to you. Once it’s established it can live on its own (like Slamdance that moved to LA after many years of being in Park City during Sundance) but this is a great way to launch something with a lower risk profile. 

One of the benefits of co-locating around a large event is that the key players are already there. What are some of the drawbacks / challenges?

One of the major drawbacks is the competition for attendance. There are so many things happening at these large events that you need to do something major to stand out. You can’t launch small. So that’s the other risk. While you get less risk on the right audience being in proximity, you need to risk large when it comes to investment. In other words you don’t go to these places and have a small luncheon if you want to make an impact. For instance in our first year at the Sundance Film Festival we chose the largest space on Main Street. The second year, we chose the largest space in all of Park City. 

The challenge is also permitting and rules and regulations. Often permits and cities are heavily incentivized to keep you out or minimize your footprint so that can be difficult. Also, many spaces might already be sold out for not just this year but years in advance. If you want to launch you need to get a headstart. 

Economics

How does the Impact Lounge make money?

We haven’t yet. We are a startup, albeit a non-profit startup, which most people don’t think of. When you start a company (like a car company) you have to build the factory, hire the employees, build the brand, and send out the first car. That first car doesn’t make money. You need to make back your investment. So we sent out the first cars, now we need to capitalize on what our factory does. This year we’re focused on sponsorship and grants which is how we will be sustainable and be able to continue. 

Did you raise money or fund it yourself?

I funded the entire project from 2024 till now myself. And now it’s time to make that investment become sustainable. 

How much are we talking about?

Several hundred thousand dollars.

What’s it like being an event owner, rather than an agency working for one?

It is so much easier! In the sense that I came up with the concept in 2023, the day after Thanksgiving, and then created the brand, the tagline, designed the raw space, contracted the vendors, reached out to speakers, programmed the panels, and raised money for half the costs within 7 weeks. Same with our recent Lumen Awards, where we went from idea, concept and execution within 6 weeks. It showed me how efficient you can be when you are an event company owner and you do not have to operate with client consensus. It’s a really freeing feeling. However, the downside is realizing that you spend most of your retirement to buy that freedom. 

What advice would you give to other event agency leaders who may be considering launching their own events like this?

It’s scary, and it’s a massive investment. If you can’t stomach the idea that you are likely paying for building a car factory from scratch before you see any incoming funds, then this might not be for you. However, if you yearn for the freedom that you can see beyond the bonds that hold you back from doing your best work – this is absolutely for you, 100%.

What’s Next?

When and where is the Impact Lounge taking place for the rest of this year?

We are hosting a Social Impact Film Festival at Marmalade which runs alongside the Skoll World Forum (which we produce) and then we’re off to the Cannes Film Festival hosting a panel again, before prepping for our fall appearance in NY in conjunction with our partner at the United Nations. 

What are your ultimate goals for the Impact Lounge? Where do you see it in 3-5 years?

We see a roadmap that has consistent cities and events (Sundance, SXSW, Marmalade, Cannes, UN/Climate Week) as well as new ones added as it makes sense, like Berlinale, Venice, Toronto or social impact gatherings like Aspen Ideas Festival or TED. 

Anything else you’d like to add?

I started this the year my father died. He passed away in June 2023. I remember thinking then, I don’t feel like I’ve done my best work. And I want him to be proud. My mom was there when I woke up and said, it’s time to go big at Sundance again. I had produced the largest non-officially sponsored event there in the year 2000 – before there were other branded “houses” as there are now. I thought, I need to do something like that again before I die. That would make my dad proud and me too. So I’m delivering on that promise to him, and to myself. 

Have you taken the leap and created your own event? If so, I’d love to hear about it!

Here’s to taking your event business to the next level!

Howard Givner
Senior Advisor | Oaklins: DeSilva & Phillips (M&A) email me
CEO | Heathcote Advisory Group (Consulting) email me

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Catch up on recent articles:

• The Lights Are Flashing Red. Again.

• How Much Is Your Event Agency Actually Worth?

• AI Is Creating Winners & Losers In Events: Which Will You Be?

• How to Help Your Clients Define, & Weight, Their Event Goals

If and when you’re ready, here are ways I work with agency owners:

• Business Diagnostic & Company Valuation

• Growth Consulting

• Exit Planning

• Business Coaching & Owner Accountability

• M&A (Buy Side & Sell Side)

Wanna chat? Email me, or schedule an intro call.

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