If you missed the first couple editions of Cannes Nightcap, no worries—they’re right here and here.
As Day Three of the Cannes Lions International Festival of Creativity winds down, we’re going to take a moment to dis Day One and Day Two, which in retrospect seemed rather sleepy (beyond some announcements of some high-profile Lions wins).
But Day Three!—Day Three was $$$$. Mainly because it kicked off with Quibi cofounder Jeffrey Katzenberg and CEO Meg Whitman taking the stage at the Palais Wednesday morning to announce that their short-video service has already booked $100 million in advertising leading up its planned launch next April.
Joining them on stage in their victory lap was one of their most powerful patrons: Marc Pritchard, chief brand officer of Procter & Gamble—and it turns out Quibi has also secured ad commitments from Anheuser-Busch InBev, Google, PepsiCo, Progressive and Walmart. Jeanine Poggi reports that the combined $100 million haul from those brands puts Quibi two-thirds of the way toward its $150 million first-year ad goal.