Navigating Modern Marketing: Insights from Paramount and Live Nation at Advertising Week New York

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PCN Entertainment attended the 20th annual Advertising Week in New York. The busy week was filled with insights from key speakers like Terry Crews, Serena Kerrigan, Suni Lee, Camilla Cabello, Tinx, Lil Jon, Cynthia Nixon, Carmelo Anthony, and more. Insights from top companies like Paramount, Live Nation, Athletic Greens and UTA were shared and guests had the opportunity to interact with key players like Disney, Snapchat, and Canva.

The 4-day event was filled with insights about navigating modern marketing and what it takes to reach key audiences in 2024. A hot topic of discussion surrounds the changing rules in the rapidly evolving world of marketing. PCN Entertainment, being a nightlife and hospitality-focused company, thought deeply about what our industry could take away from these insights. Paramount and Live Nation’s approaches highlight the need for nightlife and entertainment marketers to move beyond traditional channels and think holistically about their strategies, particularly pertaining to data, creators, and events. Here’s what’s shaping today’s nightlife marketing landscape and how brands can adapt.

Measuring Marketing Holistically

One major takeaway from Paramount is the need to treat all marketing channels as a unified entity rather than viewing them in silos (e.g., social media, website, TV). In nightlife, it’s not uncommon to run ads about your restaurant, venue, alcohol brand, clothing brand, etc across social media, email, website, promoters, etc. But with consumers navigating multiple touchpoints throughout their journey, it’s no longer practical to analyze performance on a channel-by-channel basis. Instead, nightlife, hospitality and entertainment marketers should focus on the entire funnel, considering scale, return, and insights collectively to inform decision-making. This holistic view enables marketing dollars to move quickly and efficiently, adjusting to real-time performance.

However, this approach requires an understanding that different channels and platforms come with unique footprints and inherent biases. Deterministic matching, though complex, becomes essential for connecting these varied touchpoints and attributing value accurately across the funnel. With marketing mix models (MMMs) making a resurgence, your brand can gain a clearer picture of what works across the funnel. Ultimately, the goal is to win the attribution game, understanding where value is created and how it contributes to the overall marketing ecosystem in nightlife, hospitality, and entertainment.?

The Role of Creators in Marketing for Hospitality Industries

Today’s consumers, especially Gen Z, are increasingly choosing their creators like they choose their friends. This shift in behavior signifies the growing importance of authenticity and personal connection in marketing. As a result, brands should look to collaborate with creators who resonate deeply with their audience, acting as authentic ambassadors rather than mere endorsers.

For example, nightlife connoisseur, Alix Earle (7.1M), creates infamous “get ready with me” videos chatting with her followers in a FaceTime-like video. She talks about drama, family, friends, her struggles with acne, and her relationship with Miami Dolphins player Braxton Berrios . Then, she makes another video where followers get to help her choose her outfit for the night out. The next morning, she posts a recap video showing what she ate, drank, the music she danced to, and every step she took the night before. These videos are the perfect example of a creator creating an authentic and personal connection with her followers. Each of these touch points in Alix’s content is an opportunity for brands to subtly target her fan base.

Live Nation’s Approach to Experiential Marketing in Events

A key insight here is that Gen Z values experiences, with 90% preferring to spend on experiences over material goods

Live Nation, an experiential events and concert-focused company, highlighted the difficulties associated with the fragmentation of media and how it has made it challenging for brands to capture consumer attention. As Live Nation notes, while marketing once felt like a playground, it’s now more akin to a theme park, with countless options vying for consumer focus. Yet, this shift also presents opportunities, especially in experiential marketing for hospitality, nightlife and entertainment. Live Nation’s work on the fan journey, encompassing travel, outfits, beauty, photo ops, and more, shows how brands can integrate into experiences, adding real value rather than just pushing ads.

A key insight here is that Gen Z values experiences, with 90% preferring to spend on experiences over material goods. This generation’s purchasing power and a strong sense of community provide fertile ground for brands to connect in meaningful ways. Brands like Chase and Lyft have already capitalized on these opportunities, offering discounts on monetized wristbands, viewing decks, and transportation to festivals, making them part of the overall experience rather than just peripheral.

Opportunities for Brand Integration in Hospitality

Advertisers are no longer just looking to be seen; they want to be felt and remembered.

Brands should look at Live Nation’s model and think creatively about how to integrate their offerings into the consumer’s experience. Categories such as payment partners, alcohol, travel, beauty, fashion, and tech have significant potential. Moreover, the shift from traditional advertising to in-person activations reflects a broader trend toward creating memorable experiences. Advertisers are no longer just looking to be seen; they want to be felt and remembered.

The good news is, the hospitality industry is founded on in-person experiences. This shift in strategy in the overall marketing industry positively impacts nightlife, hospitality, and entertainment as people are eager to rejoin society and attend events. This trend opens the door for more strategic opportunities in brand integrations, pop-up events, and more.

Building Loyalty in a Fragmented Market

Loyalty programs remain a powerful tool for brands, particularly in a fragmented media environment. By offering rewards that genuinely add value to consumers’ lives, brands can foster deeper relationships and encourage repeat engagement. For example, offering a free shot to the first 100 guests that attend a nightclub every Saturday could influence the decision for patrons to attend your club vs. a competitor. Partnering with platforms like On The House Network ?are another way to create customer loyalty.?

In conclusion, the evolving marketing landscape demands a unified approach to measurement, a focus on experiences, and partnerships with authentic creators. The strategies from Paramount and Live Nation offer a roadmap for brands to navigate this new terrain, where experiences, community, and holistic measurement drive meaningful connections.