A significant concern voiced since the start of Cannes is the noticeable absence of US theatrical deals. This void has a cascading effect on international distribution. Films without a US distributor face deteriorating values over time, making it increasingly challenging to recoup production budgets.
Despite the challenges at AFM, TIFF, and EFM in restoring pre-lockdown attendance levels, Cannes has flourished, showing consistent growth and culminating in its largest market in years. Following the first day of Cannes, the atmosphere remains upbeat as sales agents and producers indicate strong interest from international buyers.
After years of declining demand for independent films, producers, sales agencies, and distributors report a significant pre-sales market resurgence heading into Cannes. Download Your Free Cannes Film Festival Cheat Sheet Below with Titles, Directors, Sales Representatives, Deals Signed, Links to IMDbPro, and More.
Breaking News: Freevee Will Shutdown After Amazon Adamantly Denies Claims. Recently, on Prime Video, ads started popping up on scripted series and films. Over 167 million existing Amazon Prime members in the U.S. are now required to pay an additional $3 per month to enjoy the same service they signed up for to avoid ads.
Unstoppable declines in linear television subscribers coupled with challenges in achieving profits in freshly minted streaming services have led most media companies on the road to consolidation. Over the next 12 months, Paramount, Warner Bros. Discovery, and NBCUniversal will likely be impacted by consolidation.
Warner Bros. Discovery has lost 2.5 million subscribers in its direct-to-consumer (DTC) division, encompassing HBO cable subscriptions and the Max and Discovery+ streaming services. The company also experienced a massive loss in advertising revenue for linear television, which still keeps the lights on at many studios.
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