The State, official representative of the Cannes Lions in Brazil, announces the launch of ‘State of Creativity’, an annual report that allows senior marketing professionals to quickly understand the creative landscape, with functional advice on how to drive business growth using creativity.
“This is a unique glimpse into the global creative landscape, and what we are seeing is that while the sentiment is outwardly optimistic, internally, the industry is at odds. There is optimism about progress and investment, but also tensions that need to be worked through if we are to realize the potential of creativity as a driver of growth. Basically, there is interrupted communication”, says Spencer Fox, SVP and Business and Consulting leader at the event.
In 2023, macroeconomic concerns stifled the creative industry’s ambitions and forced budget cuts, but in 2024, a much more positive story emerges. Companies report promising growth and an increase in investment in marketing, with 51% of brand and agency respondents saying they expect stronger growth this year. However, the opportunity to capitalize on this with innovative creative work may be at risk, with responses revealing two growing tensions that are pushing key leaders apart. stakeholders of creativity.
This year’s study revealed that there are stark discrepancies in the way brands experience the client-agency relationship compared to their agency partners. When asked about the partnership, brands expressed a more positive attitude towards it, while creative partners painted a drastically different picture. This suggests that brands are less aware of the reality of their situation.
Senior leadership was the second target of criticism. Respondents on the brand side expressed difficulties in getting executives to embrace creativity. This was attributed, in part, to the absence of creative people in the boardroom, with more traditional, risk-averse marketers taking up seats. Although most people want to push the limits of their creative work, conservative leaders make them feel like they can’t.
“Our results show that brands that predict greater growth for 2024 are six times more likely to prioritize creativity, are 4.6 times more likely to have a higher marketing spend than in 2023 and invest more in brand building. This is solid evidence for the business case for creativity,” adds Fox.
Offering a comprehensive look at the trends and drivers shaping the business of creativity, the study was informed by a global survey of nearly 3,000 creative and marketing professionals, along with one-on-one conversations with leaders across the industry. The complete report, prepared by Consultoria Lions, is available for download in this link.
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