Speaker 1:

From the New York Stock Exchange at the corner of Wall and Broad Streets in New York City, welcome Inside the ICE House. Our podcast from Intercontinental Exchange is your go-to for the latest on markets, leadership, vision, and business. For over 230 years, the NYSE has been the beating heart of global growth. Each week we bring you inspiring stories of innovators, job creators, and the movers and shakers of capitalism here at the NYSE and ICEs exchanges around the world. Now let's go inside the Ice House. Here's your host, Lance Glinn.

Lance Glinn:

The Cannes Lion Festival of Creativity is more than just an award show. It's where the heartbeat of modern marketing is felt. Set along the iconic French Riviera, Cannes is the industry's crystal ball revealing the bold ideas, breakthrough technologies and cultural shifts shaping the future of advertising. From the rise of generative AI to the unstoppable momentum of creators and the reinvention of purpose-driven storytelling, the conversations that happen at Cannes, ripple across the globe.

Luz Corona, editor at Campaign U.S. was on the ground capturing the energy, insights and standout brand moments of the week. Fresh from France, she steps Inside the ICE House to unpack the festival's biggest takeaways, and explore how the next era of marketing is being written in real time.

Luz, thanks so much for joining us Inside the ICE House.

Luz Corona:

Thank you for having me.

Lance Glinn:

Luz, you just returned from Cannes Lion, the International Festival of Creativity in France. But before we get to your takeaways and the insights shared during the event, just what was your overall impression of the festival and the moments that captured the energy and the direction of where the industry is heading?

Luz Corona:

Yeah, I mean the energy is incomparable. Everyone's there. Everyone's excited to, first of all, be in the south of France, not too shabby, but really to celebrate creativity. Everyone works so hard in the ad industry to get this recognition. It's a game changer for the reputation, their portfolios, individually, and then the ad agencies and brands as well. So yeah, the energy is definitely exciting. It's long days filled with Rosé, yes, but also a lot of great conversations on stages, behind the scenes. So yeah, the energy was fantastic.

Lance Glinn:

Good weather I'm hoping?

Luz Corona:

Good weather if you call sweltering heat good weather, yes.

Lance Glinn:

Okay. Well, look, here in New York City, we dealt with the sweltering heat the last few days.

Luz Corona:

We brought it back.

Lance Glinn:

I can only imagine. Well, at least you're by the water.

Luz Corona:

Yes.

Lance Glinn:

Yeah, you're by the water. So hopefully that cooled it down a little bit. Better that than rain.

Luz Corona:

Yes.

Lance Glinn:

I always say, better that than rain. You can deal with the heat more than you can deal with the rain. Not as much fun to walk around with umbrellas, compared to just walking around in the hot sun. But glad was a good time. And this was your first time going right?

Luz Corona:

It was my first time, yes.

Lance Glinn:

Got it. Got it. So you saw the festival or you see the festival up close now for the first time. Regarding this most recent one that you just came back from, just what were some of the moments or activations that, to you, told a meaningful story or tapped into culture in a smart way?

Luz Corona:

Yeah, I mean the beaches, the branded beaches along the Croisette are always really interesting. And those are the ones that you really want to check out. Aside from the Palais itself, that's a whole experience. You're checking out the creative work and what's getting awarded. You're listening to the top creatives of the world speak on the big stage and inspire you and share what they're doing. But the branded activations on the beach are really noteworthy. Specifically Pinterest and The Female Quotient. I mean, they have nailed it. Pinterest beach, it's always a buzz-worthy topic, but this year, more than ever, they really know how to bring their brand to life. And it's very interesting, because Pinterest and The Female Quotient, they're not necessarily products, they're platforms. They represent community, they're not something tangible per se, but they bring their brands to life at these events that really represents them. And I mean, the industry just eats it up. They love it.

Lance Glinn:

I want to now transition to some of the themes that I'm sure are evident at Cannes and are evident just in marketing and advertising as a whole. AI, clearly one of the biggest themes of the year, not only just in the industries involving Cannes, but really industries across the board, whether it's healthcare, retail, technology, whatever it might be.

How would you describe the mood around AI? And was it more curiosity, excitement, caution, or a combination of all of the above?

Luz Corona:

I think all of the above. I think we're at a point now where everyone's embracing AI. A couple of years ago, everyone was afraid to dip their toe into the pool. They're like, "No, we're not going to let this hinder creativity." But now everyone knows it's not going anywhere, and you just got to jump on the ship and figure out how you're going to use it, whether it's in your process or in your creative. That's what everyone is saying. Everyone is pretty much, the general consensus was that you have to use AI to keep up with the times, but with the human driving at the wheel, and that's how everyone is approaching it.

But I think there's still a gap in how to use it effectively. Everyone's trying to figure out how to use it in their process or just internally and things like that. But everyone's still peering over to the side and, how are they using it? How are they using it? Even down to the prompts. So everyone's embracing it, but with caution, and still trying to figure it out, I think.

Lance Glinn:

So you said that it may have previously been looked at as more of a hindrance to creativity. Would you say now it's being looked at more and more as a benefit or an addition to the human element of creativity?

Luz Corona:

I think it depends who you ask. So yes, it's being looked at as a complementary to creative, but I think there is some hesitation and borderline fear about what it will do to the craft. So specifically things like copywriting, and things like that where you can just type in a prompt into ChatGPT. And it could essentially erase that profession, and it shouldn't, right? Because it's still marketing that's speaking to humans, not AI. So I think there is a little bit of concern in how it'll affect the next generation of creatives coming in, and how they use it. So it's definitely having a moment right now.

Lance Glinn:

Yeah. No, absolutely. And you mentioned how it could be part of the creative process, but you still need that human touch obviously. What did you learn about how marketers are navigating that balance? Because I think I said AI is not just involving or not just affecting creativity and marketing and advertising, it's affecting all different fields. I think everyone's trying to balance how do we make sure we use AI to its full potential, while obviously still have that human connection.

So what did you learn about how marketers are navigating that balance?

Luz Corona:

I think they're figuring out how to use it for efficiency purposes right now. It's cutting back the hours of manpower that are needed to spit out hundreds of different assets, different variations of the creative. I think everyone's trying to figure that out, instead of actually using it to create something that we'll see out there. But there are brands that are nailing it, specially Coca-Cola, for better or for worse. I know their Christmas ad got backlash, but they are spearheading AI in the brand space and learning how to use effectively.

Lance Glinn:

So I want to pivot from AI to this creator economy, and we've seen it continue to evolve quickly over the last few years, really over the last year. And it doesn't seem to be going anywhere anytime soon. It seems to really be here to stay. So what roles do you believe the creators and creator economy have in brand storytelling, and how were companies using them during the festival to represent these brands?

Luz Corona:

Yeah. I mean, I'll tell you, this was my first time in Cannes, but I know for a fact the attention that creators got at this Cannes Festival was insane, and not in a bad way. I think everyone's realizing that those are the next brand marketing leaders. So I mean, Cannes started the creator track only two years ago, but you would never be able to tell, based on everything that we saw this year. They had specific educational components targeting creators. LinkedIn had a really big role in this. They even had a dedicated space for creators to connect with almost like a quick master class or a boot camp of sorts, for creators to use and talk to the brand marketers who are there.

And that's also the beauty of Cannes, is you get to talk to people who may not be as accessible to you, whether geographically or even just in the professional space in the industry. So people are really using that time to connect and learn from each other. So there was a really big focus, and people were just excited to see creators. I mean, they're today's celebs. I don't even know if I probably pass by them on the street, and I noticed more of the athletes that were walking by me, but the creators, I didn't notice per se, but I know that people were really excited about them.

Lance Glinn:

Yeah. No, I'd be the same way. I don't know if I necessarily noticed the creators, but from a sports background myself, I know I'd noticed the athletes. And I know there were a lot of athletes or a good amount of athletes that were there, which we'll talk about in a little bit. But we've seen this creator economy evolve far beyond the early days of just simple brand deals and product placements. So now as it's evolved, how are brands, in your mind, rethinking their partnerships with creators today, moving beyond just what was one's maybe influencer marketing?

Luz Corona:

Yeah. I think the brands that are playing it smart are the ones that realize that you have to collaborate with these creators, that you have to work side by side with them and not try to mold them into some personality that just spits out an ad for you. You have to tap into their persona and their messaging and their audience, and that's the effective way to use it. So I think the brands that are doing it right, are the ones that work side by side with the creators, instead of just emailing the brief and being like, "Send this back to me in a few days." So I think those brands are finally starting to realize, to get it right, you have to work with them.

Lance Glinn:

You have to essentially let them be them.

Luz Corona:

Exactly.

Lance Glinn:

You have to let them be them. Let their true personality, let who they are and how they've created their brand, shine as they're promoting your brand, or is there, advertising for your brand. So I mentioned, well, you mentioned that you may have noticed some of the athletes walking around, rather than creators. I'd be the same way. And sports seemed to dominate the conversation at times. I spoke right before Cannes to Rich Routman, the president of Minute Media. They're the publishing rights holder of Sports Illustrated, and I know Sports Illustrated has a president at Cannes, and we're joined by U.S. tennis star, Sloane Stephens, and figure skating legend, Nancy Kerrigan.

Why do you think sports have become such a powerful canvas for marketers right now?

Luz Corona:

I think sports, similar to music, can be a universal language. Especially, I won't get into politics, but obviously there's some divisiveness right now and things. It doesn't matter what it says on your ballot or what you do in your personal life or whatever, if you like the same sports team as someone, there's already a bond there.

Lance Glinn:

Common ground there.

Luz Corona:

Yeah, there's a common ground. And I think that's why it's just one of those things, partisan or not. It's so neutral to all the noise going on that, that's why I think sports, finally, people are realizing the potential of it and also the live component of it. It's exciting. In the world of streaming and binging, we still crave that experience where you're watching in real time.

Lance Glinn:

Yeah. No, absolutely. And did you get the sense, because I feel like sports marketing used to be a niche type of vertical, which I don't think it is today. Did you get the sense, while at Cannes, that it's now shaping the broader playbook across industries?

Luz Corona:

I think so. I think brands are at least considering, okay, do we have a role in this space? Or how can we enter this conversation that's, I'll use the buzzword, authentic to us? How can we enter this space that feels right to us and we can connect to our audience, or potentially a new audience, through sports? So I think that's really what everyone's figuring out.

Lance Glinn:

Yeah. So purpose-led marketing has been a hot topic for years, but the conversation around it seems to have become even more of a factor this year. What sense did you get, not only from Cannes, but just through interactions with marketers about the new tone or directions brands are taking when it comes to leading with a purpose?

Luz Corona:

I think it was really refreshing to see purpose-led campaigns take some of those Grand Prix wins and everything. There were some closed caption campaigns. There were campaigns that were raising awareness about health deserts, especially for menopausal women. It was so refreshing to see us use advertising for good again. And that hasn't fully gone away over the past couple of years, but it's definitely faded into the background a little bit. And sometimes it's humor. Humor had a moment last year at Cannes, and a humor category was added, and things like that. But purpose-led marketing, you always need to serve your consumer.

Now figuring out what your purpose is, everyone needs to have a purpose. Not necessarily having to attach the brand name to a cause that doesn't make sense. It really has to make sense, and it has to speak to the consumer, which a lot of the time, us marketers, we get in our bubble and we clap each other on the back and we're like, "Oh, that idea is awesome," and "It can win a Cannes Lions," but did it leave your consumer scratching their head? So it was a relief to see those campaigns surface to the top, the ones that serve consumers and also were really smart.

Lance Glinn:

And how hard is it, because you bring a good point there, it could win at Cannes Lions, but what does that mean when it comes to your consumers if they don't understand it or if it doesn't resonate with them? How do you find that balance?

Luz Corona:

Yeah. I think, well, first of all, the numbers will tell you that it's not working. All these cool things that look great on PowerPoint and may have swept at Cannes. If it's not doing anything for your bottom line, then that's when you know. I think you find the balance by figuring out what you want your brand or ad agency to be known for. So if you're a creative shop that's known for their wacky ideas, that's going to work for you. That's the Cannes Lions. I think it depends. Now though, with everything going on, tight wallets, budgets being really tight as well, everyone needs to find that balance of driving the bottom line and also catching people's attention. I think there's more pressure than ever to really deliver on the numbers, more so than the cheeky creative.

Lance Glinn:

What do you think staying on purpose-driven marketing or purpose-led marketing, excuse me, what do you think the next evolution of purpose is in marketing? Are we moving from just storytelling to something more action driven?

Luz Corona:

Yeah, I hope so. I really do. I think we need it. Advertising can be used for good. It gets such a bad rep for driving capitalism or whatever, however you want to look at it, whatever existential crisis we have that day. But advertising can really be used for good. And I think it's really amazing when brands that figure out how to hack a platform or hack technology to bring their idea to life, I think that's also what will drive purpose-led marketing forward. It's like figuring how to use it for good, whether it's bringing an idea to a Spotify or another, or Reddit or one of these online platforms, and figuring out like, "Hey, I know you haven't done this before, but we have this idea that we want to bring to life for this purpose. Can you work with us?" And I think that's the innovative, purpose-led marketing that will really go forward.

Lance Glinn:

So as we wrap up our conversation, this year's Cannes Lions was a preview of where marketing is headed or has already arrived. What trends or themes do you think could define the next 12 months, and when the festival arrives in 2026 will dominate the conversations then?

Luz Corona:

I just keep seeing more and more chatter around the presence of the creators at Cannes, and I think that's really developing quickly. I think that's going to have an even bigger presence next year, similar to what we saw this year. AI is just developing so rapidly. I don't even know where we're going to be this time next year with that. Sports, sport can't go out of style. Quote me on it in a couple of years. Sports and music and experiential is back. I really hope experiential continues to get bigger. We saw it blow out of the water this year, especially after the pandemic. It went down a little bit, but now brands are finally bringing themselves to life, so I would bet my money on creators and just more experiential.

Lance Glinn:

Well, Luz, I'm glad you enjoyed France. It seems like Cannes Lions was a blast, as it always is. Thank you so much for joining us Inside the ICE House.

Luz Corona:

Thank you, Lance.

Speaker 1:

That's our conversation for this week. Remember to rate, review, and subscribe wherever you listen, and follow us on X at ICE House Podcast. From the New York Stock Exchange, we'll talk to you again next week Inside the ICE House.

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