Cannes Film Festival and Cannes Lions have evolved from a cultural event that was once co-opted by Madison Avenue agencies and later dominated by ad tech platforms such as Google, Amazon, and Meta. Retail media companies including Uber, Albertsons, Walmart, and Target have also increased their presence. Concerns have grown about a lack of Hollywood studios and stars during the festival period. Netflix is viewed as unwelcome due to its approach to theatrical releases, and Disney, Universal, Amazon MGM, Sony, and the new Paramount-Warner Bros did not attend this year. Social influencers in evening wear have taken over much of the visible celebrity space. SpaceX has filed S-1 documents as a step toward an IPO, with attention on valuation and ownership.
"The creative festival that once drafted off the Cannes Film Festival was, in turn, co‑opted by Madison Avenue ad agencies focused on TV, outdoor campaigns and other media. In recent decades, the show has been steamrolled by ad tech, from Big Tech platforms (like Google, Amazon and Meta), to the ad tech row docked at the port. And over the past few years, retail media businesses like Uber, Albertsons, Walmart and Target have piled on, as well."
"That evolution gives some color to a painful question hanging over the Film Festival, which has been running since mid-May and ends on Saturday: Where are all the Hollywood studios and stars? There are worries about a growing Franco‑American rift and broader shifts in entertainment. Netflix, for example, has a reputation as a persona non grata at the film festival because it eschews exclusive theatrical film runs (except to make its content eligible for Oscars)."
"Meanwhile, Disney, Universal, Amazon MGM, Sony and the new Paramount-Warner Bros were no-shows at the film fest this year. On the other hand, guess who's flooded Cannes this year to fill the celebrity vacuum? Social influencers in evening wear are taking up all the sidewalk space."
"SpaceX has filed S-1 documents as a precursor to its IPO. Most of the attention has zeroed in on its $1.75 trillion valuation target and Elon Musk's majority ownership. At the time Twitter was taken private by Musk and a consortium of backers, it had earned $4.7 billion from advertising in the year prior and was growing at 21%."
Read at AdExchanger
Unable to calculate read time
Collection
[
|
...
]