Opinions are mixed about whether film and television markets should return to their pre-lockdown physical format or retain some online elements and transition to a hybrid model.
Despite muted expectations by sellers, buyers, and producers heading into the virtual European Film Market on March 1, most reported a successful and busy market.
Theatrical buyers, streaming services, and networks are all taking a fresh look at independent films as they struggle to fill programming gaps and meet the growing demand for filmed entertainment.
Many uncertainties surround the format and nature of film markets in 2021, including the crown jewel – Cannes. All significant markets scheduled in the first quarter will be virtual.
COVID-19 has decimated global content pipelines by halting film production, canceling greenlit projects, and closing cinemas. However, the present disruptions have only accelerated transformations that were well underway.
After a slow start to the 35th annual Sundance Film Festival, the weekend produced a handful of sizable deals, including from Amazon Studios, Searchlight Pictures, and Lionsgate.
Deal activity is muted so far at this year’s festival despite claims that producers and sales agents were withholding their best films at TIFF in September to introduce at Sundance.
After a lackluster Sundance in 2018, last year was full of mega-deals, especially by Netflix and Amazon. Buyers spent over $120 million acquiring rights to some 40 films.
The box office in North America was down almost 5% from 2018 even after rising ticket prices, and despite a slew of mega-budget franchise films being released.
Amazon Studios has relied on traditional distribution practices to foster greater collaboration with gatekeepers in Hollywood. However, after playing second fiddle to Netflix for the better part of a decade, Amazon is changing its theatrical strategy stateside.
Netflix and Amazon, who were once touted as the saviors of the indie film market, are retreating from acquisitions to focus on producing more original films.
Discover what type of films independent distributors want to acquire in their own words. Understand what elements 26 U.S. distributors are looking for when they acquire a film at TIFF or elsewhere.
Buyers at TIFF are skittish after a 6% drop in North American box office receipts in 2019. Worse still, is the dire year indie films are having, where receipts have declined 45%.