Cannes Lions’ parent company Ascential is to acquire Effie, the firm behind the global Effie Awards which reward excellence in marketing effectiveness.
The move, which is still subject to regulatory approval, will see Effie absorbed into the businesses’ Lions Division which will in turn lead to the creation of the new ‘Effie Lions Foundation Inc.’
The new foundation will offer training for marketing students, with a particular focusing on those who come from backgrounds that are under-represented within the industry.
“The coming together of Lions and Effie is a powerful testament to the fact that effectiveness and creativity in marketing are inextricably linked. All enlightened businesses know that creative, effective marketing drives growth,” Ascential CEO, Philip Thomas said.
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“This historic partnership will complement the insights and intelligence on marketing and creative effectiveness Lions already offers via WARC, The Work and Contagious, providing marketing leaders worldwide with the data and evidence they need to make the case for creative marketing that matters. Meanwhile, the creation of The Effie Lions Foundation, Inc. will educate and inspire our industry, and broaden the opportunities available to everyone to build a career in creativity and marketing.”
First launched in 1968, the Effie Awards were initially designed solely for marketing effectiveness but nowadays provide insights from as many as 125 different global markets.
Effie Worldwide president and CEO, Traci Alford added: “We are excited to join Lions with such a complementary, yet distinct, portfolio of brands.”
“Closer collaboration between Effie, as the definitive marketing effectiveness benchmark globally, and the LIONS brands is an exciting prospect for the industry as our ability to share insights and find synergies in our data will help to dissect the role creativity plays in driving marketing effectiveness overall. Together we will be able to better understand the key drivers of growth and ultimately help all businesses succeed.”
