It’s like a fish market: after 48 hours they don’t want it any more - "it’s not fresh, your film"!
François Yon*
The Cannes Market is one of the biggest film markets. It takes place every may in Cannes, South of France. There are 10 500 participants coming from 92 countries, the 1385 of them are film buyers. There are 7400 film titles offered, the 900 of which are screened at the market.[1]
The major distribution companies are looking to buy films all year round. They learn about all important films that are going to be produced. As the distribution companies are particularly interested in big movies with A-cast, they often pre-buy the rights for those films at early stage, like screenplay or pre-production. They do it because, once the film is completed, the prices are rising and the film can be taken by other distributors.
The films are sold by territory. The buyers from countries with larger distribution capacity pay more. For example, German buyers can pay fifty thousand for a film, while the buyers from countries like Luxembourg and Yugoslavia would pay just few thousand.[2] American films with well-developed U.S. distribution get serious attention of foreign buyers.
There are different types of films that buyers are interested in. They have their own language:
• bumpers are films that get awards, and the prices increase automatically: +10 for a selection at Cannes Festival, +5 for Venice, +50 for Oscars
• crowd-pleaser is a film that seems a little bit pathetic, but finally pleases the spectator
• nice to have is a purchasable film, but not essential
• must have is very important film
• asking price is a top price film
• sleeper is a film that ‘sleeps’ and suddenly ‘wakes up’. Nobody noticed it before, and in a few hours it becomes the film that everybody wants to buy. For example, The Lives of Others at first was refused by all big festivals and by most buyers.[3]
The buyers don’t have much time to think, if movie is good enough .They have to act quickly. They never see the entire movie. American buyers send scouts, who stay twenty-five minutes at each screening. The scouts call the decision maker, who goes only to the screenings of spotted films.
The buyers can purchase films before the screening, without seeing it, for a less expensive fee. In that case, the buyers are taking a risk. Often the market screenings are scheduled after the official premiere or press screening. The buyers want to know public reaction: applauding or whistles, laughing or tears… If the movie is popular, the buyers are ready for anything. They are betting on it and prices blow up. When the film is not a hit, but buyers still want it, they can get it for a cheaper price.
A filmmaker who wants to sell his film at Cannes Market, has to prepare his trip in advance. The distribution companies start to make the appointments one month before the market begins. Their priority is to sell the films from their catalogues. They don’t really have time to deal with filmmakers. On the other hand, the major companies have separate divisions for buying films (acquisition department) and for selling it (distribution department). Whatever company you choose, it’s better to contact them before the market, so they can acquire your film and already represent it in Cannes.
The term ‘buyer’ is pretty confusing. If you look at the buyers list in the Cannes Market database, there are distribution companies, sales agents, TV channels, home video stores and others.[4] Let me explain the difference. The distribution companies (or sales agents) buy films to sell it to distributors (movie theaters, TV channels, DVD stores) and they charge filmmakers for their services.
The filmmakers can also sell their films directly to distributors without paying an agent. What is more effective? It depends on the company. Some distribution companies take your film without paying anything upfront. Don’t do it. Others want to buy your film off - they offer a certain amount to buy all rights for your film. You hesitate, because you hope to sell it better.
Selling a film directly to distributors is also complicated. Not many of them are attending the Cannes Market. If you are looking for theatrical distribution, you definitely need a qualified agent, because you can’t deal with theaters and marketing on your own. If you realize that your film is not good enough for theatrical, you can sell it to television and home video stores by yourself or with the help of an agent.
The press has a big effect on film distribution. The reviews given by Variety and Screen are essential. Their journalists are also specialists of the market and they evaluate the commercial potential of films. Bad reviews in those magazines can kill the film. That is why the sellers keep in touch with press attachés: their job is to put pressure to delay the publication of unfavorable articles. One day can change everything! On the other hand, a good review in Variety or Screen provokes a huge request on film.[5]
*François Yon is one of the creators of FILMS DISTRIBUTION and buyer with 16 years experience.
References:
1) Marché du Film official website: https://www.marchedufilm.com/.
2) From interview with TV and film producer Jorrit van der Kooi.
3) Pascal Mérigeau, L'autre festival de Cannes : Le Nouvel Observateur - 2270 - 08/05/2008. http://hebdo.nouvelobs.com/hebdo/parution/p2270/articles/a374328-.html
5) Pascal Mérigeau, L'autre festival de Cannes : Le Nouvel Observateur - 2270 - 08/05/2008. http://hebdo.nouvelobs.com/hebdo/parution/p2270/articles/a374328-.html
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