Cannes Lions revenue up despite agency exodus as tech and media fills the gap
The revenue generated by the Cannes Lions Festival of Creativity rose 7% to £62.9m in 2017 despite “slightly reduced volumes of award entries and delegates” according to owner Ascential in its half-year report today (24 July).
The “reduced participation by certain major agency customers” at the festival was offset by the involvement of technology companies and new media platforms like Facebook, Snapchat and Google, it said.. The increased sale of premium packages also helped offset dwindling agency interest which poses an existential threat to the event in 2018.
Revenue was split between delegate passes (42%), award entries (41%) and partnership/digital Read full story ›
Source: The Drum
