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Leonine opportunity costs

Come next week, throngs of industry folk will touch down in Cannes to pat backs, sip rosé and try to be inspired. Agencies and their holding companies invest huge sums to take part. But duo Michael Middelkoop and Sharif Elmawla, who are currently working at Saatchi & Saatchi Amsterdam, decided to find out what else the entry money would be able to buy with their website www.insteadofalion.com

As the website says:

THIS YEAR CANNES LIONS RECEIVED 35.765 ENTRIES. AN ALL TIME HIGH. IN TOTAL, AGENCIES SPENT ABOUT €18,5 MILLION TO SUBMIT THEIR WORK FOR THE MOST EPIC CREATIVE AWARD IN THE WORLD. IMAGINE ALL THE OTHER THINGS WE COULD HAVE DONE WITH THE MONEY.

On a related note, Omnicom-owned DDB Group has recently stated it will cut its awards budget in the Asia Pacific region by 30 percent next year, instead focusing on developing creative talent and improving creative work across the board. 

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