by Carl Settles, Sergio Alcocer, Kelli Coleman and Leslie Wingo
With ethnic minorities now representing the largest and fastest growing segments of the consumer economy, the very definition of the general market is being challenged. Multi-cultural agency heads such as Translation’s Steve Stoute are eschewing their parent agencies (Mr. Stoute bought back a majority stake in his agency from Interpublic) in order to compete for a larger share of the marketing pie. In his book, The Tanning of America, Mr. Stoute lays out a compelling case for why he and many other multi-cultural agencies may be better suited to influence general market consumers than their largely mono-cultural counterparts.This panel explores the unprecedented opportunities for minority owned agencies and talent to move to the forefront of the advertising landscape. We’ll hear from key executives from GlobalHue, LatinWorks and Sanders\Wingo ad agencies as they lay out their visions for advertising in the 21st Century and the defining role minority media makers are playing in it.
The invention of the printing press transformed society by breaking up elite strangleholds on entertainment and information. But governments and corporations figured out how to tame the next wave of media—TV & radio. How can the Internet fulfill its true revolutionary promise and avoid being co-opted again by the economic and political establishment? By uniting with the book, the last medium to accomplish that. Average time spent per user on books is hours, lifetime revenue per author approaches one thousand dollars. But they're damn idiosyncratic and sampling them is hell, so current technology and business models favor lowest common denominators to maximize advertising revenue. By combining the Internet's capacity to power creation and consumption with the book's capacity to get deeper inside the human mind and identity than any other medium, the Internet can balance its dependence on corporate advertising with the economics of individual choice.
9th–13th March 2012