NAB 2025 opened with a reported 55,000 registrants—a notable drop from last year’s 61,000 and a dramatic fall from the pre-pandemic peak of over 100,000. To interpret these numbers, several factors must be considered. Post-Covid, most companies have significantly reduced their investments in trade shows—resulting in smaller booths, lower attendance, and, mechanically, fewer visitors on the supply side. On the demand side, the M&E market has clearly reached a phase of maturity—buyers now know what they need, and with no major innovations on the horizon, fewer staff are being sent. Additional contributing factors include the fact that over 50% of attendees were first-timers, for the first time there was a fee to access the exhibition, and a growing anti-US sentiment…