Brendan GahanCEO/Co-Founder Of Creator Authority (Influencer Marketing Agency)

Are brands investing in influencers enough? #advertisingweek #awnewyork #ncaa #influencermarketing

Name: Are brands investing in influencers enough? #advertisingweek #awnewyork #ncaa #influencermarketing
Uploaded: 2022-10-25T16:52:39+00:00
Duration: 50 s
Channel: Brendan Gahan
Description: In a panel at Advertising Week New York, the speaker highlights the emergence of a new influencer segment—NCAA student‑athletes—following the 2021 Name…

25 Oct 2022 · 1 min

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In a panel at Advertising Week New York, the speaker highlights the emergence of a new influencer segment—NCAA student‑athletes—following the 2021 Name, Image, and Likeness (NIL) rule change that now allows roughly 500,000 college athletes to be paid for their personal brand. The speaker argues that marketers are not doing enough to reach Gen Z, citing stark media‑consumption data: 89.7% of Gen Z spend at least one hour daily on social platforms (nearly half over three hours), while only 41.7% watch TV. Despite this, U.S. influencer marketing budgets are about $5 billion, a fraction of the $68 billion spent on TV advertising. The speaker frames creators on social platforms as an overlooked channel for engaging Gen Z and asks the audience whether brands are allocating sufficient spend to creators.

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It's Advertising Week New York, the epicenter of brands, marketers, and media companies, and I spoke on a panel, the next wave of Gen Z influencers, NCAA student athletes. You see, as of 2021, student athletes are finally allowed to receive compensation for their name and likeness, and with about 500,000 student athletes, this has opened the floodgates to a whole new arena of influencer marketing. And on our panel, one theme stood out: are marketers doing enough to reach Gen Z? I don't really think so. Just look at the numbers. 89.7% of Gen Z spend at least an hour a day on social. Nearly half spend more than 3 hours a day, but only 41.7 are TV watchers. Yet only about $5 billion is spent on influencer marketing here in the US, while more than $68 billion is spent on TV. To me, it shows how much creators on platforms like this are overlooked. But what do you think? Are brands spending enough on creators to reach Gen Z?