The share of creative skills within the advertising industry has decreased by 17% over the past five years, LinkedIn CEO Ryan Roslansky said in a speech at the annual Cannes Lions creative festival in France.
has decreased by 17% over the past five years, LinkedIn CEO Ryan Roslansky said in a speech at the annual Cannes Lions creative festival in France Tuesday.In prioritizing tech and data skills at the expense of creative ones, the sector has lost more talent than it has gained relative to other industries.The advertising industry lost 5.5% more people than it has gained in the past five years, whereas the tech industry has gained 23% more people than it has lost in that time span.
Similarly, there's been a 32% decline in the share of creative skills, like design, creative strategy and branding, in that time across the ad industry, compared to a 47% increase in tech skills, like coding. "In the ad industry in 2015, for every creative role hired, there was one technical role hired. In 2021, for every creative role hired, 1.25 technical roles were hired," he said.While some marketers see this evolution as a natural response to the digitization of business and life, Roslansky said in over-indexing on tech skills, the advertising sector will continue to lose sight of important business opportunities.
Specifically, he said, the most significant business opportunity for the advertising industry is to better serve a quickly growing subset of B2B companies that need creativity to make their brands as relevant as some of the most storied consumer companies, like Nike and Coca-Cola.
The biggest brands of today, he said, "are already so big, it's hard to improve the promise they are making," which limits opportunities for the advertising sector to grow."There has been a shift in what matters in this industry," he said, adding that "the clients who will deliver the next generation of growth will look very different from the biggest brands you work with today," and those brands need creative guidance as much as tech expertise.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk doesn't care about being Twitter's CEO, but expects people to listen to himDuring his first meetings with Twitter employees this week, Elon Musk said he is not so interested in being CEO but he does want people to listen to him.
Read more »
Tesla CEO Elon Musk Confirms He'll Keep Buying and Supporting Dogecoin – Altcoins Bitcoin NewsElon Musk has reaffirmed his commitment to dogecoin (DOGE). He confirms that he will keep buying and supporting the meme cryptocurrency.
Read more »
'The system is rusty': Qantas CEO defends industry as airlines cancel thousands of flightsAir travel is roaring back, but not without some significant hiccups, ranging from canceled or delayed flights to lost luggage and long wait times.
Read more »
SpaceX reported to fire employees critical of CEO Elon MuskThe firings occurred Thursday — the same day Musk addressed Twitter employees for the first time about his $44 billion deal to add that social media service to his business empire.
Read more »
The CEO Who Turned Audemars Piguet Into a Billion-Dollar Brand Is Stepping DownFrançois-Henry Bennahmias will leave the role next year.
Read more »