Leading European buyers are at AFM this week looking for “distinctive”, “theatrical” and “conversation starter” projects that can connect with wide audiences.
They say they are particularly after affordable projects from emerging filmmakers tuned into the needs of Gen Z cinemagoers who have begun returning to cinemas in the wake of the pandemic.
For many, there is a new industry playbook to follow at this year’s AFM, epitomised by the familiar example of YouTuber Kane Parsons’ horror Backrooms, which was sold out of last year’s market by A24, and has grossed over $400m worldwide despite a lack of high-profile cast or big budget.
The European distributors who spoke with Screen on the eve of AFM were emphatic about the value of attending the market and the opportunity it offers to pick up US projects with breakout potential that can round out their slates.
They say that demand is higher than ever for the few projects with true standout potential, pushing up prices. This is despite a challenging European distribution landscape, which has been hit by weak demand for pay-1 TV deals; an increasingly polarised, winner-takes-all box office; and the fact that distributors cannot access generous European subsidies to release US movies.
Enrique Costa, co-founder of Spanish distributor Elastica Films, is at AFM having just enjoyed a bumper year with its release of box office phenomenon La Bola Negra as well as Backrooms, which it acquired here last year.
“All of us distributors in Spain are fighting for the catchy, tasty projects – so the prices we are paying for could be a little bit higher for them.”
Costa said that Elastica would remain disciplined and ‘cautious’ about what it spends on acquisitions, despite the success of La Bola Negra. “A result like that should not make us think that we are smarter than anyone. We need to think twice about what we want to acquire, and what the next step is for Elastica. The plan is to maintain what we have done for the past five years - to acquire movies that we really, really love. When we find those projects, we’re going to go for it.”
David Kehrl, head of acquisition and co-production at Constantin Film, is also at AFM after a strong year for the Munich-based distributor. Constantin acquired Backrooms at AFM; it has taken €11m in German speaking territories this year. Meanwhile, Constantin’s inhouse production Resident Evil has just crossed $400m worldwide.
Kehrl stressed that Constantin will be “selective” about the projects it buys. “For 2027 and early 2028, we feel pretty good about the slate already. So we’ll be on the lookout for projects that stand out, that feel fresh and unseen. There’s no real pressure to buy really.”
Leading Italian distributor I Wonder Pictures, whose slate includes titles such as Club Kid, NAZA and You Can See Everything comes to AFM for the first time this year having built longstanding relationships with sellers such as A24 and Neon. “It as an exciting opportunity to expand our network and explore new partnerships within the American independent film industry,” says I Wonder founder and CEO Andrea Romeo.
Romeo says he’s after “ambitious, unconventional cinema” with “a distinctive voice and a strong identity, but also with the potential “to connect with a wider audience.” I Wonder is particularly interested in emerging filmmakers, “especially those who understand the cultural language of younger generations.”
Romeo says horror is a “fascinating area” but he’s not just looking for one specific genre. “What excites me most is discovering something unexpected, a film that challenges our assumptions about what audiences want and has the potential to become the next big cinematic discovery.”
Dorota Eberhardt, CEO of leading Polish distributor Kino Świat – whose slate includes Whicker and I Play Rocky – echoes these sentiments. She says Kino Świat is looking for “original and zeitgeist stories and conversation starters.”
Kino Świat is also at AFM hoping to discover the content creators who will resonate with Gen Z audience, which Eberhardt points out makes up 20% of Polish society but 40% of Polish cinema goers.
AFM fans
Many of the buyers stress the importance of AFM for rounding out their slates and allowing to connect with the US industry at a slightly less frenetic pace than at Cannes.
“For years, people have been saying AFM is dead and they don’t need the market,” says Kehrl. “But I have found for us specifically - because we don’t necessarily rely on acquisitions and have a big slate of our own productions - that we’ve always been able to be very opportunistic in in picking up films at AFM.”
He says that rival distributors will often spend their budget earlier in the year at Cannes or Berlin to fill their slate. “Once people have slowed down, we can come in and scoop up the gems.”
The launch of the Toronto market in September hasn’t dampened his enthusiasm either. “The challenge Toronto has is timing, right after summer. It’s just challenging [for sales agents] to build packages because people are on vacation. In terms of timing, AFM sits well at the tail end of the year as a big counterpart to Cannes.”
Kino Świat’s Eberhardt is also a fan. “AFM is the most important market event in the year. This is the time and place where the biggest number of the new projects are released. It is also the biggest market for American films which still are the major box office driver….But first and foremost AFM is also the place where new trends and talents are revealed and all the latest market and business rumours are exchanged.”
Elastica’s Costa regards AFM as the beginning of the industry year because of its focus on new projects, and the fact that it comes after the autumn festivals which have showcased completed films. He also likes AFM’s new home in the Fairmont Century Plaza. So does Kehrl: “The new venue is extremely convenient. Everything is in one place. It’s a very good place to do business.”
As for the cost of attending, AFM might be pricey for a European company to attend “but what other market is not expensive”, says Costa. “When we think about how much we pay to go to Cannes or other markets from autumn, it is what it is. It is the place to be this winter. We need to be at AFM.”
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