Volume 71 July 2023

Executive Summary

Bonjour, mes amis! The world of advertising converged on the French Riviera once again at the International Festival of Creativity near, and sometimes on, the beach of Cannes, enjoying post-COVID and celebrating la crème de la crème in advertising. The sight of old pal and global CMO Ryan Linder play a Stagwell Global-sponsored pickleball tournament at Sports Beach would have justified the long intercontinental flight (Ryan, btw, where was my invite?! 😊). Instead, I attended ProcureCon London a few days prior, which also had strong attendance from the world’s largest brands, their marketing procurement teams, and remarkable industry speakers. But let’s be frank: No matter how thrilling London is, it’s rather a tough competition with Cannes and its Promenade de la Croisette, pine and palm trees, and fine dining. This year, the Cannes Lions International Festival of Creativity scored 26,992 entries, a 6% increase from 2022 and an 18% jump in entries directly from consumer product brand companies, showing the level of enthusiasm for celebrating world-class creativity and effectiveness, including emerging categories like B2B, Gaming, Commerce, and Business Transformation. Iconic in nature, the event illustrated the thriving creativity and ingenuity of our industry.

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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 8
Financials…………………………. page 11
Agency Reviews and Roster Changes……………… page 14

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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