By Rebecca Stewart

Amid pullbacks from some of the ad industry’s biggest names, Cannes Lions has announced the creation of an advisory committee to “help shape the future of the festival”.

This year the event has faced criticism from WPP boss Sir Martin Sorrell, while Publicis Groupe said it would refrain from entering the awards in 2018, instead opting to invest in its own AI platform, Marcel. Accordingly, shares in Cannes Lions owner, Ascential fell, on Wednesday (June 21) its stock price fell by more than 3% following comments from the ad industry’s major holding groups.

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Source: The Drum