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Cannes revenue slides 9% amid Publicis no-show and format shake-up

Revenue from the Cannes Festival slumped 9% this year with the one-year withdrawal by Publicis and new awards structure blamed for the decline.

Festival owner Ascential reported revenue of £57.3 million (US$75m) down from almost £63m ($82m) last year.

Award entries, which accounted for 39% of revenues, shrunk more than a fifth with Ascential saying it reflects the Publicis withdrawal and the reduction of three Lion awards and 120 sub categories.

Revenue from delegate passes also fell “mainly as a result of reduced participation by agency holding groups, including Publicis, combined with the standardisation to a single five day pass”.

The festival was previously held over eight days.

Ascential said a third revenue stream, partnerships and digital, climbed 35% and accounted for 21% of total revenues.

The firm said the new shorter format had been well received while new awards, including social and influencer categories along with brand and activation awards, had attracted “good levels of interest” and “offset long established declines in print and outdoor Lions categories”.

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