Prime Location, High Prices Deter Buyers
Recent weather patterns have brought both challenges and opportunities to the American Film Market (AFM). Held at the Fairmont Century Plaza, the event saw increased traffic despite harsh rain in Los Angeles, marking a stark contrast to last year’s unfavorable experience in Las Vegas.
Prime Location and High Prices Deter Buyers
This year’s AFM featured 285 exhibitors from 35 countries, matching last year’s attendance. The venue was praised for its functional amenities, responsive lifts, and easy accessibility to offices and talent agencies. Sam Pressman, a producer, noted the invigorating energy of the location even amidst stormy weather.
Relief Among Industry Professionals
Film executives expressed relief over improved conditions compared to last year. Fabien Westerhoff, a film executive, remarked that the AFM organizers had “cracked the code,” creating a better environment for business transactions. However, the substantial pricing of projects remains a significant barrier.
Buyers Feel the Pinch
Despite a strong international representation from countries such as South Korea, Germany, and the U.K., many buyers felt deterred by high asking prices. The week coincided with the disappointing release of indie films like “Die, My Love” and “Christy,” highlighting the industry’s ongoing struggles in a challenging theatrical market.
- Major Issues Highlighted:
- High prices compared to market realities.
- Diminished ancillary revenues affecting distribution.
Stuart Ford, CEO of AGC Studios, emphasized the impact of pay-one and streaming video on demand (SVOD) deals in markets outside the U.S. He noted that this trend constrains buyers’ financial power significantly.
Notable Projects in the Spotlight
Despite the challenges, several projects stood out at AFM. “Ibelin,” directed by Morten Tyldum, garnered attention for its compelling narrative about a man’s enduring life through gaming. Meanwhile, “Bad Bridgets,” a revenge thriller from Rich Peppiatt, was met with excitement, although its estimated asking price of $10 million for U.S. rights was considered excessive.
Apart from these, Mel Gibson’s two-part film “The Resurrection of the Christ” was also among the notable projects. The market still showed glimmers of hope, with the anticipated comeback of the “Sharknado” franchise drawing interest.
Concluding Thoughts
While the indie film environment may be fraught with obstacles, industry professionals remain optimistic. Rupert Preston from Vertigo Releasing stated that special films will always find an audience, encouraging filmmakers to adapt to the evolving market landscape. The AFM serves as a reminder of the resilience required in the film industry.
