The Rise of the Creator Economy: Lessons from the Past and Insights from Cannes

When, in 1981, MTV first hit the screens, it was dismissed as a flash in the pan because certain people thought that a music video channel would never hold a candle to the already established formats of entertainment. Fast forward, MTV didn't just survive but went on to become a cultural powerhouse that would change music, TV, and worldwide culture forever. Then it was an instrument of the popularization of movies, soundtracks, and advertising, not to mention the fact that it became a career catapult for directors like David Fincher, Spike Jonze, and Michael Bay. Exactly like the creators do in this current digital age, the respective directors influenced millions of audiences with the stories and editing that attracted specifically young audiences.

Much like MTV changed the way people discover and consume music and found artists, let's say, creator marketing is transforming the way people discover brands and make purchases, create communities today. Stats show that audiences are increasingly switching away from traditional media, as GWI reported that, in 2023, for the first time, people will spend approximately 30% more time on social media than watching TV. But there's a real schism here: creator-produced videos on the likes of TikTok, YouTube, and Instagram Reels are still not considered premium content by so many inside the mainstream creative and marketing industries.

Even with Goldman Sachs estimating that the creator economy will be a half a trillion dollar force by 2027, for global ad exposure, TV commercials still rule the day. I know one question that many inside the creator industry are asking : what's it going to take to shift this perception? Will the mainstream continue to miss the influence of creator content or wake up before it's too late? The momentum is undeniable; this shift is already happening.

Cannes Lions Festival Points to Pivot to Creator Marketing It's probably the biggest event in advertising in the entire world: the Cannes Lions International Festival of Creativity. This year felt a little different, as more and more marketers are turning to embrace the creator economy as intrinsic to their strategies. Influencers are finally front and center at the festival, talked up by ad agencies, social platforms, and brands in panels and events.

Creators featured in the campaign included Yes Theory, Mr Ballen, Robyn DelMonte and Alix Earle. For the first time ever, Cannes Lions dedicated the Palais to "Lions Creators" track sponsored by Viral Nation, the creator marketing agency. Now, like never before, creators are taking that central seat in the execution of campaigns by ad folk.

But, of course, it extended to next-gen global creator marketing experts like Victoire Binet of Unilever, Caspar Lee of Creator Ventures, Zack Honarvar of Creator Now, and Ashley Cole Seidman of Visa. It was this very panel that was headed in one direction in terms of showing how brands and creators must work to get each other better—Seidman drove it home: Listen first, learn, then campaign.

And now, with this category having been introduced in 2018 in Cannes and called the Social and Influencer award category, the change dynamics are visible in how a brand is flowing in social media and with influencers. Either there were far more entries this time—or much better ones—with a Gold Lion going to McDonald's Japan for "No Smiles," and a Grand Prix going to the always clever "Michael CeraVe," with actor Michael Cera as an unlikely beauty influencer.

Looking to the Future of Brand Engagement Just as MTV went from a novelty that was ignored to being a cultural sensation, so it will be for creator marketing, able to effect this kind of transformation. In this way, it can tap into their power for the successes of both the brand and cultural relevance, respectively, by identifying and appreciating their differentiation assets. It's a long way from skepticism to acceptance, but what's now emerging is something real: creator marketing is remolding the future of brand engagement, and those not ready can very easily find themselves in the dust.