Advertising giant Publicis Groupe has said it will not participate in the Cannes Lions Festival of Creativity, which recognises excellence in advertising, next year. The decision comes as the firm aims to cut spending on awards competitions and trade shows, according to an internal memo sent to the group's agencies. Sir Martin WPP, CEO of global advertising firm Sorrell, has also indicated that his firm is having second thoughts about the event. Cannes Lions has grown "a bit too broad, and it’s probably lost its way”, WPP said.
Advertising giant Publicis Groupe has said it will not participate in the Cannes Lions Festival of Creativity, which recognises excellence in advertising, next year. The decision comes as the firm aims to cut spending on awards competitions and trade shows, according to an internal memo sent to the group's agencies. Sir Martin Sorrell, CEO of global advertising firm WPP, has also indicated that his firm is having second thoughts about the event. Cannes Lions has grown "a bit too broad, and it’s probably lost its way”, Sorrell said.