Tuesday, 19 June 2007

Cannes' Gold

Seems like the whole advertising industry has gone Cannes crazy at the moment.

Perhaps we should all calm down a little and consider these sobering statistics:

Around 9,000 people are paying up to $4,000 each for tickets to seminars and events.

Agencies are paying anywhere between between $400 and $1,500 per entry.

There were an estimated 26,000 entry submissions this year.

Overall the Cannes festival rakes in somewhere in the region of $35million.

According to Ad Age it is believed to have a profit margin in the range of 60%.

Brings to mind that great old English saying, money for jam.