It seems even the jewel event in the advertising crown is not immune to the follies of economics as the 2002 Cannes International Advertising Festival is expecting 10-15% fewer delegates filling the screening rooms, shaking hands and milling about.

"The whole market potential is smaller this year," says festival chairman Franz Prenner. "Last year a lot of agencies let a lot of people go and many of our delegates come from creative departments of agencies." He approximates the festival is made up of 70% agency delegates, 10% invited advertisers, while the rest are journalists and from production companies.

Prenner says that despite lower delegate registration, the number of entries has jumped an estimated 5-10% over last year, which was widely considered the most successful to date with upwards of 6,000 film entries. "That means that the agencies have produced a lot of good work and they know the importance of Cannes."

Bob Isherwood, worldwide creative director and chairman of the worldwide creative board of Saatchi & Saatchi, says that Cannes is extremely important for young creatives. "I think it blows their minds. For a start, it's one thing to win a Cannes Lion, but to actually go there and see the level of difficulty in winning...it's unbelievable."

For Goodby, Silverstein and Partners San Francisco's co-chairman and Cannes Film and TV jury president Jeff Goodby, the festival's consequence lies in international exposure. "The festival exposes a lot of work that doesn't get seen elsewhere. It's the most stimulating of all shows in that regard."

As for the quality of this year's entries, Prenner has confidence that they will hold up against other years. And from a judging perspective, Goodby says, "I think [as judges] we look for things we wish we had done ourselves; things that are intelligent, original and thought-provoking."

Advertising in the global economy

Over the years, globalization of the market has made the Cannes showcase a must-see for agencies, says Isherwood. "An ad that wins a grand prix at Cannes can go on to run around the world. Something that has worked for 23 international judges will probably work in a lot more countries than just the one it was designed for."

While Cannes does still hold relevance for the prodcos, Luke Thornton of LA's Believe Media says that in the US, the AICP tends to be the key show in town. "In terms of building relationships with the European community, Cannes is important," he says, noting that London affiliate Rose Hackney Barber represents in Cannes. "But for the American contingent, I find the AICP show is much more important for meeting clients in a social setting."

That said, Thornton does acknowledge the Lions as the most prestigious awards in the world. "To win awards when you're up against the cream of Europe is that much more satisfying."

Saatchi Showcase

Another highlight of the festival is the Saatchi New Directors Showcase, now in its 12th year. Originally conceived as a way to show that there is "great talent from all over the world, including its edges," the event now ranks second in attendance to the final awards ceremony according to Isherwood.

"At the time there was a belief that great work only came from the US and the UK," he continues.

"I think people were blown away that there was a lot of great talent from a lot of places they hadn't heard of. But it's ironic, we're now getting submissions of foreign directors through US production companies." Globalization at work, it seems.

Bash or business? A bit of both

For some, the hubbub of Cannes is overwhelming. Alex Bogusky, vice chairman and creative director of Miami's Crispin, Porter + Bogusky, attended last year's festival as a judge on the film and TV jury. He describes the experience as akin to representing your country in the Olympics. However, a self-described non-partier, he says the hardest thing about the experience was to adjust to the feverish schmoozing.

Schmoozing indeed, but not without its rewards. Goodby says, "[Cannes] is advertising biggest circus with several rings and sideshows operating at all hours of the night. It's also a chance to see a lot of terrific talented people, be inspired by great work, and unabashedly discuss and embrace advertising."

And according to Isherwood: "I really believe that the people who go to Cannes to get something out of it come away truly inspired."