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Another Substantial Financial Loss for Reed

We already know that the Eastern Sports & Outdoor Show was a multi-million dollar event for Reed Exhibitions, and they lost it because of poor execution and dismal communication with their vendors and customers. Today, they lost another show with NSSF announcing that Reed will no longer manage SHOT.

What surprises me the most is that the contract is terminated immediately. I figured they would at least ride out the issue until 2014 is wrapped up since events of this scale are not something you pull together in a day.

We certainly wish NSSF luck in pulling together a successful SHOT Show in 2014, and we take a little joy is knowing that while this is ultimately no big deal to Reed’s overall bottom line, losing a millions over their anti-gun positions is still a bit of a victory.

6 Responses to “Another Substantial Financial Loss for Reed”

  1. JC_VA says:

    Good for NSSF. We need to make sure organizations such as Reed feel the financial pain for their decisions.

    SHOT is a huge loss for them. Any ideas who’ll take their place?

    • Bitter says:

      Actually, SHOT isn’t “a huge loss” if you look at their overall collection of events and overall business interests. On the financial interest front, ESOS was probably a bigger loss just because they weren’t just a company managing the event on behalf of someone else, they were the ultimate folks in charge. That means they enjoyed all of the profits.

      If you click through and read the statement, you’ll see that NSSF said they are trying to find a new management company right now.

  2. mike says:

    Making people feel the consequences of their actions.. Sebastian, there may be an important lesson in there somewhere.

  3. RP says:

    Even if it doesn’t dent their total revenue, I suspect its a bigger deal to Reed than you guys think.

    If something like this happened to any of the businesses I’ve worked for over the years, heads would have rolled.

    Plus the publicity factor. I would not be surprised if more people despise Reed than had heard of them 6 months ago.

  4. AZRon says:

    They need to understand that they cannot alienate some of us without alienating all of us.

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