Brand Innovators 2023 Outlook: Entertainment
In the 11th installment of our 2023 Outlook Series, Brand Innovators speaks brand marketing leaders about what is on the horizon for 2023 in entertainment marketing.
Consumers returned to in-person events in droves in 2022 and brands have been showing up to events with experiential activations that entertain consumers. Expect this trend to continue, as brands look to connect to consumers in deeper and more engaging ways.
Brands are no longer just in the market to sell a product, they are showing up and authentically embedding themselves into the entertaining events that consumers attend. Expect entertainment to be on the agenda for brands in 2023 as they look for ways –both in person and digitally – to delight consumers in 2023.
“The past few years have changed the way we see marketing, evolving from entertainment to using creativity to solve consumer and business problems,” says Richard Oppy, vice president of global brands at Anheuser-Busch InBev. “For AB InBev, we had a record-breaking year at Cannes but even more exciting was that most of our recognized work weren’t ads. Taking an “action, not ads” approach is how you earn respect and trust from consumers, and this sentiment will continue in 2023 and beyond. Second, the world continues to become increasingly dynamic and as a result, agility is essential. Good ideas can come from anywhere, and when they do, they move fast.”
In 2022, Bose hosted music listening events on Record Store Day, facilitating an entertaining experience in a place that consumers want to be. Expect more of these types of activations in 2023. “It’s really about us just creating unbelievable content around the community of music fans, to help celebrate their passions,” says Jim Mollica, chief marketing officer at Bose. “I'm really excited that we have some big things coming up around the corner. To start, things that you'll see at South by Southwest and some other experiences along the way, where you would expect us to be, where music plays a critical role and share that with the legion of passionate music fans.”
Streaming will continue to be a huge driver in the entertainment industry, but the amount of choice has escalated and fragmented the market. With price increases in subscription fees, many of the larger players including Netflix, Disney+ and Paramount+ have recently entered the ad-supported model, which gives brands a new opportunity to get in front of consumers in these highly engaged entertainment channels. Expect to see more brands enter the space in 2023. While brands will still spend more on traditional TV in 2023, ad spend on streaming services will increase to around one-sixth of linear TV ad spend next year, according to Insider Intelligence.
Next year, brands will also continue to work with celebrities and creators in their content, in newer and more unexpected ways.
“Celebrity talent, especially musicians, are crossing genres and becoming multi-hyphenates. It may seem initially surprising to see artists unexpectedly pivoting in their careers, but many of them are working on new, passion “side” projects that are outside their labeled lanes,” says Anna Gregorek, senior director of music brand partnerships, UTA. “An EDM artist will now have a country album or a musician who has never partnered with a corporate company are now becoming creative directors and ambassadors to their favorite brands. Post pandemic, artists feel the urgency to find ways to tick off their ‘bucket list’ dreams and career aspirations. Get ready to be surprised by some of your favorite artists in 2023 for their choice of recordings, brand collaborations and events."