CANNES LIONS SEES DROP IN ENTRY RATES
Cannes Lions is virtual this week, including the awards portion. After sitting last year out due to the Covid-19 disruption, the festival returns to honor work from the past two years. However, doubling the eligible time frame has not led to more entries—almost 2,000 fewer pieces of creative will be judged this year than in 2019. The reasons for this are varied, with some network agencies admitting to entering less work in order to save money. Entries for the Creative Effectiveness Lions have seen a 38% decline, while the Creative Strategy Lions contenders fell by 20%. Meanwhile, independent agency entries have grown by 14% and production company entries by 19%. Look for coverage on Adweek.com through the week on how those shifts affect the slate of winners and other emerging trends from the…