How successful was the Cannes Virtual Film Market 2020?

How successful was the Cannes Virtual Film Market 2020?

How successful was the 5 Day Virtual Cannes Market? –  Why this is important for you.  Part Two 

The major difference with my Indie Film Passion blog/podcast, is that I believe an up and coming filmmaker can eventually end up making and working on big movies.  To do so, it is very important to be aware and learn about the top end of quality filmmaking. 

Although most people will start at the low budget indie film level, the ultimate goal is to make films that get seen by a huge audience and have the best actors in the world.  This in turn leads to a cinema release,  Oscar buzz and awards, followed eventually by a major streaming release.

There is nothing wrong with being ambitious and seeing yourself eventually at the top end of the film world. It is inspiring and valid while at the same time focusing on the small indie film you are making now and ensuring that this film is as successful as it can be.  It may take some more successful films to get to the top end, but it is possible for every budding filmmaker. You will always need the film markets and film festivals to make this dream a reality.

With the 5 day- Online Cannes Film Market now closed, the people who participated in this market have now judged how the market performed.  Last week I previewed the Market and now it is worth reviewing the successes of the first virtual Cannes Film market.

For you as the budding indie film maker or film enthusiast, the markets are important for your film career. It is where the deals are forged for great films and it is where you want to be in the future.

You want to have your film packaged by the powerhouse dealmakers so that you can make a movie on a substantial budget that gets seen by a huge audience around the world. This can only happen if your film package is championed by the major film companies.

Of course to get to the point where your films are picked up by powerhouse companies, you need to make smaller indie films that gain notoriety and fame via the film festival circuit and online buzz and also get picked up by important companies at the film markets. Film Markets are paramount and critical to your success as an indie filmmaker.

So this years watershed Cannes Film market is a fascinating study. The key players and attendees have now stated their verdict.

Pluses of the online Film Market

  1. Efficient presentations for projects. Buyers could see potential and get excited
  2. Big savings on hotels drinks food flights for teams of people.
  3. Big deals done as the Cannes Film Market focused the mind on getting the deals done. With film festivals and future markets in limbo due to the Panic-Demic, the time was this week
  4. Better presentations as film companies had to have a much higher standard online.

Negatives of the Online Film Market

  1. Excitement and Buzz of the Cannes Film Market was not prevalent. Attending via Zoom is just not the same as the real thing.
  2. Lack of conferences and social events

As stated in the Hollywood Reporter

Overall the World Film Dealmakers gave the Virtual Online Cannes Market high marks. They may have missed the croisette, but robust sales, strong project slates and highly organized meetings, events and presentations came as a pleasant surprise: Doing everything online has been incredibly efficient.

The projects have been great, the deals are getting done,” said one 25-year Cannes veteran who buys for multiple international territories.”

With lockdown lunacy permeating most of the world, the way business is done will ultimately change over the next few year. What is most encouraging is that there are great movies coming to our cinemas, once the world returns to some form of normal.

This in the end is what truly matters.

Biggest deal of the Market – Emancipation  $75 Million – Film Nation (International) and CAA (USA) own the rights.  Warner Bros, Apple, MGM, Lionsgate and Universal are among the studios in the mix for world rights.  The film package will have Antoine Fuqua direct Will Smith 
The action thriller is about the harrowing escape of Peter, a runaway slave forced to outwit cold-blooded hunters and the unforgiving swamps of Louisiana on a tortuous journey North where he joined the Union Army. Oscars for 2022.

 It is well worth knowing how big films are packaged and sold at markets. This is where you ultimately want to be in your journey as a filmmaker.

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