• Adweek, Tuesday, June 17, 2008 10:15 AM

Some communication pundits would say that if you have to ask if your event matters, it probably doesn't. But this week, the buzz is whether the Cannes Lions International Advertising Festival is an anachronism.

The truth is complicated. The conundrum for Cannes is the same for the industry--they both need new blood, says Ty Montague, chief creative at JWT. "Our business is upside down these days. The people with the most experience and seniority are the people least qualified to lead the business forward."

Story-telling through "every conceivable medium and through the experience of using the product is more important than before," says Montague. Cannes, like the industry, hasn't shifted fast enough. It is an old institution struggling to reinvent itself in a new-media environment and in an economic downturn. Case in point: Google will not have an official presence at the festival and remains largely aloof from the agency world.

Read the whole story at Adweek »