About this episode
Next in Media spoke with Conor McKenna, partner at Luma Partners, about what's held ad tech back from exploiting the creator economy, and why creators themselves - along with a new competitive dynamic among the tech platforms - may lead the industry in a whole new direction.?Takeaways:Creator Economy's Spending Gap ?: Despite excitement and increased brand activity, there's a significant gap between time spent with creator content and advertising spend in that area.Media Consumption Convergence ??: Major platforms like Spotify, Meta, YouTube, and CTV are increasingly converging around video formats and distribution, with creators at the core. YouTube is a prime example, competing with both TikTok (YouTube Shorts) and traditional TV (YouTube app on smart TVs).Shifting Platform Dynamics ?: Creators, especially mega-creators, are gaining more leverage over platforms as platforms compete for their presence. This reduces the ability of platforms to control creators as much as they once did.Creators as Cross-Platform Marketers ?: Creators are strategically moving their audiences across different platforms and monetizing them in various ways, using short-form content as a top-of-funnel strategy to drive engagement on other channels like podcasts or Substack.Challenges in Creator Ad Buying ??: Buying creator content at scale is difficult due to workflow complexities, the need for authenticity, and challenges in measuring ROI compared to traditional ad channels.AI's Role in Creator Measurement ?: AI is expected to create more opportunities to measure creator spend in unique ways, such as tying it to user acquisition costs or understanding content context for better value.Evolution of Creator Monetization ?: Creators are increasingly demanding a larger share of monetization directly, rather than relying solely on platform payouts, which could drive demand for new tools and technologies.Brands Driving Change ?: Major brands like Unilever are significantly increasing their investment in social and creator content, pushing the industry to figure out better measurement and integration for these channels.? Guest: Conor McKenna? Host: Mike Shields? Sponsor: VuePlanner? Producer: FEL Creative
