• by Ray Schultz , June 19, 2024

The festive atmosphere at Cannes may have been cooled a bit during a panel, titled “Trust and the Future of Media,” presented during Day 3 of Bloomberg Media’s Cannes Lions programming.  

“Winter is coming from a data privacy standpoint,” said Tracy-Ann Lim, chief media officer at JPMorgan Chase.

Lim urged listeners to bring the right people to the table when trying to comply with regulatory bodies, saying the parties should realize “that you don’t know what you don’t know.”  

GroupM’s CEO North America Sharb Farjami added that “consumers now see data as a case of ownership,” and that there are now more questions about what brands are doing with that “property.”

Lou Paskalis of Ad Fontes Media encouraged businesses to “get rid of all the data that [they’ve] collected before and start over.” He also pointed to an increasing need for “sharing horizontally around the organization” to uphold company values and maintain consumer privacy.