Neither, I don't think--at least not yet. Sure, virtual offers a cheaper alternative, but how many people do you know who would attend one as a replacement for a traditional brick-and-mortar event? I'm not sure virtual events have really caught on.
I don't see virtual events taking the place of single-topic webcasts, either. I'd rather sit in for a 30-, 45-minute Webinar.
Virtual events can be a terrific complement to live events. They can extend the engagement and create exposure beyond those who attend live events. Viewed as part of a communication continuum, virtual and live can be used together to create a powerful strategy. They can also serve as a "home" for traditional webcasts.
Nothing will ever take the place of a handshake. Virtual Events can extend audience reach and increase touch points for your online audience . Virtual Events can also provide measurable results with online reporting for your advertiser.
Webcasting is a crucial component of Virtual Events. Content is king and Live Audio and Video Webcasts are a great way to present your content to a live audience in the Virtual Event. Many folks may attend a live webcast presentation but enjoy an extension of the conversation in live scheduled group chats within an online communication lounge. Attendees can also build a network and chat with colleagues in a Virtual Event. I agree with Kerry in that I've seen powerful strategies using all together.
Commercial Use Limitations: Use of any content features (blogs, forums, messaging, etc) for direct self-promotion, spamming, etc. will result in account termination. Profiles are for individuals only at this time, not companies. Profile headshots should not include company logos. Publishing/Media companies (non vendors) may create groups for their employees. Vendors see this post for more information.