Executives at the Cannes Lions festival are acknowledging the end of a traditional era in the advertising industry as they face major changes like agency consolidation, executive departures, and rising AI influence. Tom Denford describes this year's event as a 'requiem' for traditional advertising, while the agency landscape adapts to the reality of retail media and clients' evolving demands. The festival has transformed from a simple awards show into a significant gathering that showcases tech and influencers, reflecting the industry's urgent need to innovate in response to economic pressures and changing consumer behavior.
Advertising executives this week are set to toast the twilight of Madison Avenue's glory days at the Cannes Lions, marking a shift in the agency landscape.
The Cannes Lions is now a sprawling showcase of technology, entertainment, and influencers, reflecting major changes in advertising's direction and client needs.
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