The well-known complaint of high asking prices has, in the midst of an otherwise encouraging market, clearly signalling that buyers and sellers are finding it more and more difficult to reconcile their various financial models.
The conflict is still particularly evident on A-list market packages, where independent producers have battled—and paid for—to draw and retain talent in a post-strike environment where it has been difficult to turn down sizable offers from studios and streamers, pushed by talent agencies.
Sales representatives have been compelled by the ripple effect to raise their requests in order to recover financiers’ investments. Inflation and sales projections from over a year ago, when well-funded streamers were more engaged in the market, have further complicated the situation.
When it comes to popular festival picks that have also become popular here, sellers have been assertive. According to Screen, Goodfellas increased the $600,000 price tag to $1 million for the Italian rights to Emilia Perez, Jacques Audiard’s Competition entry.
Buyers have also reported seeing mouthwatering demands on areas for The Substance by Coralie Fargeat and The Seed of the Sacred Fig by Mohammad Rasoulof.
In the midst of continued conservatism among US consumers who lack strong pay-1 offers to support large bets—a condition that also impacts overseas buyers—Neon picked up North America on Rasoulof’s film.
Despite this, San Fu Maltha of Dutch distributor Perisccop, whose market buys have included documentaries Hung Up On A Dream sold by Utopia and Black Box Diaries from Dogwoof, was one of several Benelux buyers upset with prices.
He said, “I don’t want to offer at this time.” “Two years ago, when the market was more buoyant and there was more optimism about streamer deals and distribution companies needing content, prices were a little too optimistic. We’ve seen films hit the market and not live up to those estimates.”
Although Russian buyers have been active, UK vendors have reported a healthy market. Japan, Australia, and New Zealand were thought to be less active. While Asian buyers in China and Singapore had been active, several Hong Kong sellers claimed the market still had not regained its pre-Covid momentum.
All We Imagine As Light, the first Indian film in competition in thirty years, was acquired by Singaporean independent distributor Thomas Chia’s Lighthouse Film Distribution; Media Asia achieved new sales on-site for the Hong Kong action thriller Twilight Of The Warriors: Walled In, with agreements closing for South Korea (Contents Panda), India (Indo Overseas), Eastern Europe (Polemedia), Indonesia, and Cambodia (Westec Media).
The US-based Highland Film Group’s head of international sales, Todd Olsson, reported a robust response to the slate, with two films in particular receiving notable attention: John Stalberg, Jr.’s Muzzle: City of Wolves, starring Aaron Eckhart, and Justin Chadwick’s action thriller Sierra Madre, starring Kiefer Sutherland.
Olsson remarked, “This is the busiest market we have had in years.” “Everyone is searching for content very aggressively.”
A lot of discussion has also focused on the condition of the market ecosystem. TIFF revealed earlier this year that AFM is relocating to Las Vegas for its 2024 edition, and it also stated that it will open an official content market in 2026. During a Marché reception last night, guests were informed that Ventana Sur is in exclusive talks to go to Uruguay at a later time this year.
