“Filmart is back,” according to buyers and sellers at the market in Hong Kong who have turned out in greater numbers after last year’s comeback edition but challenges remain amid a region still in recovery.
“It is clearly busier than last year,” says Daichi Yashiki, international sales and acquisitions manager at Japan’s Toei Company, which is showcasing a raft of upcoming titles at the market. “We have had a lot of meetings with distributors from China, Southeast Asia and Hong Kong. But Asian buyers are being more careful in what they pick up, looking for bigger titles.”
From March 11-14, around 750 exhibitors from more than 25 countries and regions are anticipated to attend alongside more than 7,500 visitors from over 50 territories. This is up on last year, when over 700 exhibitors and more than 7,300 visitors descended on Filmart, but remains down on the 888 exhibitors from 35 territories and close to 9,000 visitors from 52 territories that attended in pre-pandemic 2019.
“Many buyers from Southeast Asia and Taiwan weren’t at the European Film Market so we’re meeting those that weren’t in Berlin last month,” said Sylvie Kim, head of international business unit of South Korea’s Barunson E&A. She agreed that there is an aggressive appetite for big commercial films but buyers are exercising caution.
“It feels like it’s back to being a big, bustling market with incredibly impressive booths,” said Johannes Busse, head of sales at Germany’s Solamedia, who sits on the extensive Europe! Hub as part of a delegation overseen by European Film Promotion (EFP).
“Asia is a very difficult market, especially now,” he added with a note of caution. “There is no longer a surge in dealmaking, with multiple buyers fighting for titles. Demand is lower and there is a lot of supply. Here, it’s about building those crucial relationships to strikes deals further down the line.”
Alexandra Cocean, EVP of international sales and distribution at US outfit Voltage Pictures, echoed this view. “It hasn’t come back yet,” she said of the demand for international content from Asia. “People aren’t going back to theatres, the box office isn’t there, and local productions are really strong. Hopefully, it will pick up but we don’t know when.
“Asia is around eight months behind the rest of the world, which is coming back much faster after Covid.”
Filmart, a leading film and TV market in Asia, takes place at the Hong Kong Convention & Exhibition Centre and forms part of Hong Kong Entertainment Expo, which is celebrating its 20th anniversary this year. Further elements include the HKIFF Industry Project Market (March 11-13), Asia Video Summit (March 13-14), Hong Kong International Film Festival (HKIFF, March 28-April 8), Hong Kong Film Awards (April 14) and Asian Film Awards, which took place on March 10 – the night before the start of Filmart.
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