Two of the largest conferences in the advertising and media circuit, Cannes Lions and Possible, were both acquired this week, the latest sign of the burgeoning value of business-to-business events.
The business intelligence firm Informa acquired Ascential, the parent company of the Cannes Lions Festival, on Wednesday for $1.6 billion. And on Friday, Beyond Ordinary Events bought the 2-year-old conference Possible for an undisclosed sum.
The two events differ in a few key respects—the Cannes Lions Festival, for starters, was founded in 1954, and it attracted 12,000 attendees in 2024 compared to Possible’s 3,600 registrants—but they share far more in common.
Both cater to a professional crowd of marketers and media executives, and each plays a vital role in the dealmaking process that fuels the international advertising business. Combined with the Consumer Electronics Show in January, the three tentpole gatherings are mainstays on the advertising event circuit.
Their twin acquisitions also reflect a growing truism in the advertising world, which is that events with the ability to convene business specialists have become critical advertising surfaces for brands.
“[The acquisitions] are a marker of the rise of events as a pillar of the media business,” said Semafor cofounder Ben Smith. Semafor, a news startup, prioritized its events business from its launch in 2022 and generated 30% of its first-year revenue from the division.
Across the media industry, publishers have scrambled to build out vast events portfolios in hopes of tapping this demand. In particular, media companies in the business-to-business space have used the gatherings as an opportunity to sell blue-chip brands’ custom activations, which they routinely present as the crown jewel of a broader package alongside display, email and social inventory.
Brands and agencies have embraced in-person events, especially curated ones, as a means of reaching their target audiences without the interference of algorithms. Physical activations also offer brands a chance to create more memorable impressions by gifting unique merchandise, showcasing talent and hosting interactive experiences.
The acquisitions also reflect the overall health of the global advertising industry, which is set to top $1 trillion in overall revenue in 2025, according to a June report from WPP.
