The ROI and the roar

Time of India

18-06-2025

The year was 1996. As Prasoon Pandey collected the
Silver Lion
for Ericsson's 'One Black Coffee' commercial, the ensuing roar was heard all the way from the
Cannes Riviera
to India for the first time. It was not only testament to the power of a witty script and a cleverly executed campaign, but also a moment that etched Ericsson into the Indian consumers' minds.
Fast forward three decades, and India's creative prowess at Cannes is no longer confined to the artistry of craft. Indian agencies aren't just making pretty ads or heartwarming social cause-based campaigns; they're strategising campaigns that drive business growth today. So, while network agencies unfurl their banners in full glory on the sun-drenched shores of Cannes, a new breed of indie shops is equally, fiercely determined to make its presence felt, proving that creative brilliance knows no size or budget.
For many of these agencies, a Lion isn't a mere addition to their trophy shelves. It's momentum, a coveted currency.
But while it remains the golden talisman of the
advertising
industry, given the rising costs associated — submitting entries, attending the festival, travel and accommodation expenses — what was once a dream moment atop the advertising summit, is today being considered unaffordable for most agencies.
Price of prestige
Participating in
Cannes Lions
is no small financial feat. Entry fees per submission range from 675 to 2,765 euros, depending on the category and submission timing. With agencies often submitting multiple entries, costs can escalate quickly. Add to these the delegate passes (which can exceed 4,000 euros), the lavish accommodations and events that are synonymous with Cannes, and the question that begs to be raised is: Does the total investment still remain viable, especially for smaller or independent agencies?
Take indie agency Talented, which has already picked up two Silver lions at Cannes this year for their work for Britannia Industries. Gautam Reghunath, co-founder, views the festival as being part of the agency's brand-building exercise. It's a major chunk of their marketing spends and the team consciously invests in it due to the value it has in bringing in clients. 'According to me, this is our version of marketing our story to the world,' Reghunath explains.
He further emphasises the evolving nature of entries and says that the 'hacks' to win at Cannes are out of the window. 'Gone are the days when a lot of work used to have 'social purpose' at its centre. Today, agencies are putting their best work forward — campaigns that have generated
brand value
and business growth,' he adds.
Aalap Desai, co-founder of tgthr (pronounced 'together'), recalls the agency's Cannes successful debut — becoming the youngest Indian agency to bag a Lions win, just nine months after launch. Desai says there was a shift after that win. 'It's a healthy mix of everything. Talent wanted to join the momentum, brands wanted to associate, teams were motivated,' he explains.
For him, the return on investment (
ROI
) was the immediate rise in brand value. However, he admits that they need to start measuring this year-on-year to understand the larger impact.
But overall, does competing at Cannes involve excessive financial planning? Desai points out that there is a cap of entries per category each year — so the money agencies can pour in is limited. 'The planning starts a year in advance. Since we are new, we put money aside every month, so that it doesn't affect the cash flow in March,' he says.
Moreover, the ROI is notional and doesn't get credited to the account. Rather, it comes in the form of goodwill, reputation, client trust, PR, new leads for business, etc. All this is only applicable if you win; hence the bet is something you have to get used to, Desai says. 'Every entry we send that doesn't win hits ROI. I have been doing this for some time now, and the one truth that stays is that you have to be ruthless with your entries or else you pay the price. Literally,' he adds.
Then there are production houses that can only enter in a select few categories. For KM Ayappa, co-founder of Early Man Film, the ROI translates more to quality scripts and global inquiries. 'If your work holds up, Cannes is the best marketplace to showcase it,' Ayappa says.
For agencies whose category options are vast, some strategic category placement can be a quarter of the battle won, he observes. So, while all exposure is valuable, Cannes stands out as the best due to its status and association with the festival. 'It's [the] one award that really counts,' he adds.
Kings of the jungle
Holding companies view Cannes Lions wins as being more than creative trophies — they enhance brand perception, attract top talent and send a signal out to the leadership in the industry. Wins can be amplified across agency networks to boost collective reputation and draw new business. ROI is measured on multiple levels, tailored to each client's unique goals and expectations.
Amitesh Rao, chief executive officer, Leo, South Asia, sees Cannes as a talent platform, 'Not just to attract talent, but perhaps more importantly, for the talent we have to participate on the global stage, engage with the best minds in the business, and stay focused on the benchmarks that we measure ourselves against,' is how Rao describes it.
Dheeraj Sinha, group CEO of FCB India and South Asia, has similar views. 'For agencies, their product is creativity. The objective is to make sure your project excels and sets global benchmarks.' [The group's metal tally in the first two days of the 2025 festival stands at three – One Gold and one
Bronze Lion
for FCB India and one Silver Lion for FCB Kinnect.]
Sinha maintains that in the business of advertising today, the quality of work is proportional to the growth the brand will get out of it. 'These days, questions like what a campaign has done for profitability and growth are asked in award judging rooms. Times are changing. Work that's happening at scale and across the spectrum takes the spotlight. We believe that creativity is an economic multiplier,' he adds.
The counterpoint
Critics argue that Cannes can become an expensive echo chamber, especially in a landscape where brand managers are tightening budgets and creators work directly with brands. Creativity matters, but the self-congratulatory carousel of trophies might be out of step with what clients — and the market — actually value.
Naresh Gupta, co-founder, Bang In The Middle, expresses scepticism. 'It's a very heavy investment to make. I think there are many different ways to get business and attract marketers,' he says.
He elaborates further about the motivation behind entries: 'The currency that most creative agencies understand is not necessarily brand success or financial security; they understand creative work that they can get awarded for. They push themselves in that direction to do award-winning work.'
Gupta also notes the ego-boosting aspect of entering Cannes. When independent ad folks who earlier learned the 'hacks' to win at bigger agencies form their own setups and win, he says, it is almost like a quasi-way of saying, 'We are better than the agency we quit.'
Reghunath does acknowledge differing perspectives. 'A lot of marketers from new-age brands don't necessarily see the value of Cannes in the same way that larger companies do. Cannes, as a platform, will also keep reinventing itself to stay relevant.'
While deep-pocketed global companies, often in lockstep with their agency partners, have the resources to submit a high number of entries, smaller brands in contrast need to weigh this more carefully.
One marketing lead at a direct-to-consumer apparel brand, which has enjoyed a string of local creative wins, concedes that while the festival is a powerful showcase for agencies courting new business on the global stage, it isn't part of their playbook. 'For a brand like ours, it's an unnecessary splurge,' he explains, noting that local honours provide strong creative validation without denting the budget too much.
Cannes Lions may not offer a one-size-fits-all ROI, but between global visibility, talent magnetism and client credibility, the roar can reach the right corners and beyond — if you can afford the ticket.