Your organization’s New Event Defaults apply to any new events that are created (except the Colors and Tracking settings, which apply to all new and existing events). It is therefore advisable to customize these in the beginning so that they can apply to any events you create.
Event-level settings are unique to each event. When a new event is created, a copy of your organization’s New Event Defaults becomes part of the new event. When an event is copied, the event settings are copied from the event being copied. Modifying event-level settings will NOT affect settings with any other event or the New Event Defaults.
Note: You can use the Revert button to revert New Event Defaults back to the System Default Settings. If you click Revert, any custom changes you made to your New Event Defaults will be lost.