Congratulations are in order to former music executive Steve Stoute who revealed on his Twitter page he’s still “bugging” over winning this year’s Executive Of The Year honor from Ad Age magazine. From the article:
It’s not unusual to hear a rapper such as Nas or J. Cole drop his name in one of their songs. Mr. Stoute knows a bit about the fabulous life too; when not at a meeting with one of his clients, which include State Farm or Coca-Cola , he can be found out in Brooklyn at a Nets game, jetting to his weekend home in the Bahamas, or getting serenaded with “Happy Birthday” in front of thousands at U.K.’s Glastonbury music festival by Beyonce.
His philosophy on marketing and culture was laid out in his 2011 book, “The Tanning of America: How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy,” which essentially details how urban and hip-hop culture became mainstream culture, defining how millennials view the world. To use his own words, no longer does your ethnicity predetermine your cultural values. In other words, multiple cultures are the new general market.
The book has helped him define a personal brand in the marketing world, while the strategy has helped win accounts. In 2012, the agency grew its revenue 60% and increased its head count from 70 to more than 120 employees in New York and Chicago, with work from clients like McDonald’s State Farm and A-B InBev getting general-market play. Picking up the Bud Light creative account, which was at McGarryBowen , shows that big marketers increasingly have faith in Mr. Stoute and his agency.
That’s big! Check out our interview with Steve where he talked about some of his legendary deals after the jump.