Every summer, two festivals bring the global elite to the same strip of the French Riviera. At one, movie stars climb the red steps of the Palais in couture. At the other, the suits gather and talk shop.

For decades, the hierarchy was clear. The Cannes Film Festival, founded in 1946, was the glamorous, controversial one. It’s where Bardot gallivanted on the beach in a bikini, Truffaut ushered in the New Wave, Tarantino flipped off a booing crowd after screening Pulp Fiction, and Julia Roberts walked the red carpet barefoot.