Conferences can be a great way to bring people together, create a space for networking and deliver valuable education.
Most events have speakers that present educational sessions to help attendees learn new skills and get inspiration. These can be keynote and/or session speakers and as an event organizer, your goal is to provide as much value as possible to your attendees so they keep coming back.
In order to do this, you need great speakers. In order to get great speakers, you need to pay them.