VOLUME 65

Executive Summary – Monthly Recap

The iconic Cannes Lions International Festival of Creativity is now behind us, along with a warm summer in the French Riviera.
The festival left us with memorable insights about the state of our industry, as we attended in person for the first time since 2019, but with less participation. The show received 25,464 entries from 87 countries, 5,000 fewer than in 2019 before COVID. Yet every year the festival transforms into the center of dialogue and debate about major developments, such as the state of the economy; the raging talent war; emerging media opportunities and the metaverse; key sustainability and diversity initiatives; and the emergence of new technology and ways to apply it.
The event is also an unmatched opportunity to celebrate talent across marketing disciplines as well as strong client–agency partnerships that deliver outstanding work—outstanding enough to receive accolades from top leaders and industry peers-turned-judges for the occasion. It was a celebration much needed given macroeconomic challenges, such as inflation and signs of a recession. For some reason, everything looks better when you hold meetings on (or near) the beach.
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Newsworthy Reports and Recent Developments

At AMS, we approach the agency management discipline as four distinct but complementary practice areas – Talent, Work and Performance, Financials, and Agency Reviews and Roster Changes – which is how we categorize the following developments.

Table of Contents

Talent……………. page 2
Work and Performance………………… page 6
Article……………………page 5
Financials…………………………. page 8
Agency Reviews and Roster Changes……………… page 11
Disclaimer: The AMS Monthly Industry Update is a summary and analysis of newsworthy agency/client developments picked up in recent trade-related publications and news media.
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