TikTok and Cost Cuts at Cannes

I’m at the bustling Cannes Lions advertising festival in the south of France, where the sun is strong and the rosé is flowing. The mood feels buoyant, even as the advertising world has pulled back on spending and tech companies reel from bruising mass layoffs. 

Some attendees are sharing Airbnbs with colleagues or staying far from the venue to cut down on costs. But tech companies still have a big presence: Spotify, Pinterest and Meta Platforms were among the companies that took over the famous Croisette Beach, featuring lounges with plenty of branding for social media posts and space for scenic meetings.