New Event Planner Survey Suggests Celebrity Keynote Speakers May Be a Waste of Money

I have “shared the stage” with Jay Leno. That’s industry lingo for saying that I was the second (much less expensive) keynote speaker at an event that Jay Leno was headlining. Yes, it was a thrill to meet him. But his set mostly consisted of jokes about his current pharmaceutical needs as an older gentleman along with some stories sprinkled in from his time hosting The Tonight Show.

Anytime I’m at an event alongside celebrities, I have to admit I do wonder if the ROI on their big fees was worth it. According to an article this week from Skift, it’s a question many event planners also seem to be pondering:

“As budgets tighten and return on investment comes under scrutiny, planners are rethinking the value of high-priced celebrity speakers. Instead, they’re prioritizing industry experts who offer actionable insights, often for a fraction of the cost.”

Clearly the story is good news for non-celebrity speakers like me. That’s probably why so many people forwarded the article to me over the past week. But celebrities today seem more popular than ever … so why are event planners so keen to avoid booking them now? Digging a bit further, I’d say there are several reasons for this shift:

Celebrity speakers can make an event seem more like a boondoggle, making it harder to get approval to attend.
Lack of actionable insight from celebrities means that ROI for attendees and event planners alike is hard to show.
Less value for “butts in seats” appeal of celebrity speakers when travel budgets for event attendance are squeezed.
The significantly higher premium fee over lesser-known speakers means less budget leftover for the overall event.

For my event planner readers or readers who frequently attend industry events, does this resonate? How much do you care about bringing or seeing celebrity speakers right now?