It may be the first official day of the Cannes market, but it is ‘Day Two’ for many buyers after a series of lively and packed-out presentations at the Olympia cinema on Monday by US sellers.
Patrick Wachsberger’s 193 showcased Bitcoin, starring Pete Davidson, Gal Gadot and Casey Affleck, which was swiftly followed by a presentation of A24’s largely sold-out The Riders, directed by Edward Berger and starring Brad Pitt, Juiianne Nicholson and Camille Cottin. FilmNation takes the floor today.
But buyers have warned of a “winner-takes-all” mentality in what is one of the most polarised markets of recent memory.
Amid a global cost-of-living crisis, social media competition and a glut of films being released in cinemas, audiences are being more selective and more risk-averse. As a result, distributors are targeting films with standout potential by recognised filmmakers, high-profile cast, established IP or festival buzz.
Dorothee Pfistner, head of acquisitions at Germany’s Neue Visionen, said German distributors all want the same kind of film - or they don’t want them at all. “There is a concentration on a few arthouse titles. A few independent titles will work very well, maybe even better than a couple of years ago. But all the titles in the middle have harder times than they used to. Titles without a known cast that could make 70-80,000 admissions before can sometimes now end up 15-30,000.”
Similarly, Johanna Mayer, head of acquisitions at Jour2Fete Distribution, says there is “a winner takes it all” trend in the French market. “Businesswise, it is a rollercoaster,” she said.
Adds Andrea Romeo, founder of Italy’s I Wonder Pictures, “If the buzz about the film is not right, there is nothing you can do.”
”Distributors want films with international buzz, awards season legs and that can be easily marketed,” said Stefan Bradea, co-founder of Romania’s Bad Unicorn. “We try to get films that are arty but also have some crossover potential in the marketing campaign. But there is a limited number of those titles per year. And they are expensive.”
Sara Frain, managing director of the UK’s Picturehouse Entertainment, said discipline is a watchword for buyers like Picturehouse. “You’ve got to be in this marketplace. You can fall in love with a film and lose sight of the bottom line. You’ve got to remain grounded and think, ‘How are audiences going to respond to this when we get home?’”
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