Gruvi Weekly Digest #93 – Cannes 2018 aftermath
A weekly catch up on things we’ve found interesting over the past week.
While most people watch the glitzy side of Cannes and cinephiles focus on discovering the next great movie, many forget about the business side of Cannes. While starts walk the red carpet, in the ‘belly of the beast’ (and 5 star hotel offices), the engine rambles on and movies, big and small, are bought and sold.
Variety has a comprehensive review of the acquisitions this year. They note that, more than ever, sales are made on completed projects rather than projects still being developed. A notable exception this year: ‘355’, a spy movie backed by a powerhouse of female talent, including Jessica Chastain, Marion Cotillard and Lupita Nyong’o.
Naturally a lot of interest is placed on the movies competing in the festival from distributors and sales agents from around the world. While the selection is in itself a mark of potential success, buyers also follow critical consensus and reception at the festival to decide for or against an acquisition.
Read more here.
Other articles of note
Despite their very public disagreement with the festival, Netflix didn’t pass on the acquisitions opportunities either and acquired two of the titles in competition.
Indiewire’s David Ehrlich makes the case that despite their feud, the streaming giant and the festival giant have their faiths inextricably intertwined. Ehrlich looks at some of the most prominent movies to argue that the paradigm is shifting and that the movies will need both the platform provided by an established film festival and that of a streaming service with global reach in order to achieve their mission.
Between an acquisition and the prestige that comes with an award, Cannes can be a predictor (and maker) of commercial success as well. Screen shares statistics provided by the Europa Cinemas Network which reveal that 2017’s Palme d’Or Winner, The Square, was the most successful European movie at the box office last year. According to Box Office Mojo the movie also did well outside of Europe, including in the US where it made over $ 1.5 million dollars at the box office. Read more here.
Feature image by je veux de la barbe on Flickr.
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