The highly-anticipated 2024 Cannes Lions festival came and went, but the insights will live on.
While there was no shortage of live music and spirited conversations this year, the industry was abuzz about the major trends reshaping the landscape: the surge of women’s sports, the significance of hard-hitting news in a global election year, the evolution of AI and a sneak peek at the upcoming Summer Olympics.
Here are the key takeaways that we heard from the heart of the biggest event in global advertising.
The rise of women’s sports: Female athletes take centre stage
With women’s sports breaking viewership records and gaining unprecedented engagement, all eyes were on female athletes at Cannes this year as they continue to capture audiences’ attention worldwide.
In the past, we’ve seen brands rely heavily on celebrity appearances at Cannes to generate buzz and attract key audiences. However, the rise of female athletes and the momentum around women’s sports has shifted this dynamic.
These athletes increasingly replaced celebrities on the Croisette at Cannes this year, and brands that harness their power can tap into a growing and highly engaged demographic.
By investing in women’s sports and partnering with female athletes, brands can increase awareness, maximise reach, and connect with a passionate and dedicated audience.
Brands should strategically surround themselves in areas where consumers are investing their time to own the moment through effective sponsorship.
Hard-hitting news: A prime opportunity to engage audiences in a global election year
With 49 per cent of the global population heading to the polls this year in at least 64 countries, 2024 is shaping up to be the ultimate election year. Now more than ever, consumers are eager for accurate and reliable information from trusted, quality news sources.
This presents a unique opportunity for brands to reach key audiences through hard-hitting news, which consistently results in high levels of attention and engagement from consumers.
Brands that prioritise navigating this environment thoughtfully – while maintaining authenticity – can successfully reach key audiences when they’re paying the most attention and gain a competitive edge on advertisers that may be investing elsewhere.
By layering on context through advanced data and targeting capabilities, brands can build confidence that their ads are being served in an appropriate, contextually relevant environment, allowing them to reach highly engaged audiences where they are without compromising their values.
Generative AI: from shiny buzzword to practical application
Generative AI is no longer just a buzzword; it’s now a powerful tool that brands are using to optimise creative campaigns. Last year, the industry looked at generative AI as a shiny, new object with unknown potential. Now, the conversation is about how to harness its power in practical applications to boost efficiency.
In this new phase, brands are using AI to analyse consumer data, personalise messaging, create more engaging content and optimise campaigns. Authenticity represents an important balance to AI – which looks increasingly real – reminding brands that they need to maintain trust with consumers by being transparent with AI usage.
The 2024 Olympics: Spotlighting the power of live sports
With a focus on athlete-centric storytelling and cross-platform viewing, the 2024 Summer Olympics in Paris will spotlight the power of live sports and provide brands with new opportunities to get involved and connect with audiences.
This year, diverse advertisers across verticals were eager to get involved for the first time as live sports continues to democratise.
Brands no longer need to be main sponsors to reap the rewards of major tent pole moments; new technology and the streaming landscape have opened the door for more advertisers to break through.
During large-scale tent pole events, brands can leverage innovative ad formats, contextual strategies, cross-screen storytelling and CTV-native homepage placements to stand out from the crowd and capture audience attention.
Additionally, the Olympics is a prime opportunity for brands to connect with key demographic segments at a time when they’re most engaged. For example, we saw unmatched enthusiasm from Gen Z viewers — particularly around new sports like surfing and skateboarding — during the 2020 Summer Olympics in Tokyo.
As the landscape evolves, advertisers have more ways than ever to get involved in this year’s Olympics across platforms, and they’re keenly aware of how valuable reaching these engaged audiences is.
Brands – of all sizes and across verticals – can leverage the excitement and anticipation around the event to reach key voters and maximise campaign impact.
The road ahead: Embracing change in an ever-evolving industry
The media industry is always evolving, and Cannes 2024 highlighted several key trends that brands should pay attention to.
The rise of women’s sports, the importance of hard-hitting news in an election year, the next phase of AI optimisation, and the upcoming Summer Olympics in Paris all present significant opportunities for brands to reach and engage with audiences.
By embracing these trends and adapting their strategies accordingly, brands can stay ahead of the curve and achieve greater success in the ever-changing landscape.
By Natalie Bastian, Global Chief Marketing Officer, Teads
