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  • The advertising industry has come a long way from the days of Mad Men.

  • Here at Cannes Lions, the ad industry's biggest event, executives are facing

  • a lot of questions about the future of their business - and they don't have a lot of answers.

  • We surveyed the field to find out what experts here think are the biggest talking points in the advertising industry.

  • The first thing we found?

  • Digital means people are taking in content - and ads - anytime, anywhere.

  • We need to embrace technology.

  • We need to embrace the fact that our viewers are consuming content everywhere, whenever they want.

  • It's a complete frustration of mine that digital is still something you tag

  • onto the beginning of a word when it's actually the world.

  • We all have phones, therefore we are digital.

  • That brings us to our second theme:

  • Historically you would put money out there

  • and there was no way to understand if you actually got anything in return.

  • And now there's very, very easy opportunities to spend a dollar

  • and understand if you made two dollars or three dollars.

  • New players from consultancies to blockchain startups are working to track and monetize data in advertising.

  • Brands and creators have become a little bit too concerned about owning all the data

  • and they're trying to make too much of the data.

  • One thing that might curb this data addiction?

  • New privacy rules like Europe's General Data Protection Regulation - or GDPR.

  • If people don't comply with the rules, there's real consequences,

  • where in the past that hasn't been the case.

  • Another major topic?

  • Brands want control over their ads.

  • For many companies, this has meant teaming up with influencers

  • who create their own content on platforms like Instagram or YouTube.

  • So in some ways, they're better than some of the brands might be at creating that content in the first place?

  • They've created amazing content for their own brand. So they know the brand guidelines themselves.

  • They create aesthetically pleasing content. And then they know how to distribute,

  • they know how to get an audience because they've created this audience.

  • Other companies have ditched ad agencies to produce their own content in-house.

  • Do you think that those agencies that aren't keeping up, could they become irrelevant?

  • I mean, I think there is the possibility of that happening.

  • And I think the speed in which we need to evolve today to keep ahead is faster than it's ever been.

  • The bottom line?

  • Advertising is evolving quickly - and companies that can't keep up might be left behind.

  • Hey everyone, it's Elizabeth here. Thanks so much for watching!

  • Be sure to check out our other videos from Cannes over here.

  • Leave us any other ideas in the comments section, and talk to you later!

The advertising industry has come a long way from the days of Mad Men.

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B1 INT US content advertising data cannes digital industry

The advertising industry is in flux and no one can keep up | CNBC Reports

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    kstmasa   posted on 2019/01/07
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