If anyone was wondering how big music has become in the world of advertising, a new announcement from Cannes should highlight the relationship between the two industries, which are increasingly dependent on each other. .
The highly respected annual festival has revealed that next June there will be a new segment of Cannes dedicated solely to entertainment and music. The 2016 event will feature a two-day segment titled Entertainment Lions and Entertainment Lions for Music, which are actually separate from each other, but are combined into a two-day program because they are related. The two competitions will have different juries, which will be made up of people from many different sectors of the industry, but all of whom are involved in the musical aspect of content creation, advertising, branded content, etc.
Entertainment was previously recognized at Cannes in a vague category that combined it with branded content, but the two are not always the same. Just because content is branded doesn’t mean it’s entertaining (or entertaining, much to the dismay of brands that sponsor content), and vice versa.
Over the past few years, marketers have realized that one of the best ways to reach their young consumers is through music. In fact, a recent study by music marketing firm Momentum Worldwide said that millennials have identified music as the best way to reach them, and brands that listen are often rewarded by this notoriously hard-to-reach demographic who looks more favorably. .
At the same time that music has become essential for brands to connect with their consumers and engage with potential new customers, the revenue generated from collaboration with brands has become a lifeline for a struggling industry. Sales, both physical and digital, are down for everyone, and touring is now the source of the majority of money. Many companies are now willing to pay top dollar just to be associated with the coolest newcomers, and many indie bands and musicians are supplementing their income with the big bucks brought in by brands of all sizes and types.
Cannes’ decision to create prizes solely devoted to music seems to be in line with the CLIOs, which reward the best work in the advertising industry each year. CLIOs now also have specific trophies to hand out for best music-focused campaigns and best use of music in a campaign, among others.
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