Hollywood knows what makes a sequel a box office hit. So why did the Academy miss the cues that last year’s #OscarsSoWhite protest would rise like a phoenix this year and produce a substandard sequel of continued missed opportunities and revenue? Esther “E.T.” Franklin, EVP, Head of SMG Americas Experience Strategy, asked that and more in a February 22 op-ed for Adweek.
Writes Franklin: “The knowledge that diverse audiences drive growth and spend the most time with TV, and the fact that the Oscars influence consumer purchases more than even the Super Bowl (Oscars viewers are more likely to buy a brand after seeing the show—31.1 percent versus the Super Bowl’s 6.87 percent) present a crystal-clear case for cultural representation. The Oscars’ inability to put the three together to drive growth for itself and advertisers reflects an insular mindset benefiting a shrinking few.
“Advertisers should be present in this cultural moment by supporting and facilitating the dreams and concerns of diverse audiences. Just as brands showed up in support of marriage equality, bolstering relationships with the LGBT community, similar opportunities exist to deepen and broaden growth-driving relationships grounded in the interests of people of color.”