On a special Cannes Lions edition of Variety‘s “Strictly Business” podcast, Fox Entertainment CEO Rob Wade explains why the company is going all-in on the creator economy, launching a division to develop content and businesses with promising creators who are eager to grow.
Billy Parks, head of Fox Creator Studios, also lays out the vision for tapping into the very targeted, high fan engagement and influence that creators enjoy but marrying it with the scale and reach that Fox is known for in TV. The effort will incubate talent and concepts for Fox-owned platforms, but the central mission is for Fox to use its heft and expertise to help creators make more money on YouTube, TikTok, in consumer products and all manner of ancillary opportunities.
Wade explains that he was inspired to move in this area in part by the prowess that Gordon Ramsay has demonstrated with his many millions of social followers. For Wade, the key is to understand each creator as a mini media empire unto themselves.
“I saw the possibility of having revenue in a [production] business rather than just spend, and from there we started to think about other ways we could get revenue: Brands, products, services, IRL events, all of these things,” Wade tells “Strictly Business.” “I’ve been very fortunate to have worked for the last 10 years with Gordon Ramsay. Gordon, as well as being a very prolific television producer and host, has a phenomenal amount of social followers. And he creates original content for YouTube. His shows are taken to YouTube and clipped up, and then we distribute them on YouTube. So there is a whole ecosystem of Gordon business on that. On top of that, we we made an investment in a pots and pans company called HexClad — which is a phenomenal product if you haven’t tried it.
