The upcoming American Film Market (AFM) in Los Angeles is generating excitement among international sales executives eager to connect with talent agents and financiers, particularly at the newly opened Fairmont Century Plaza. This central Los Angeles venue offers access to key industry players, including the CAA office located nearby, a major advantage in fostering valuable networking opportunities.
Calum Gray, co-founder of Architect, emphasizes the significance of Los Angeles as a hub for the film industry, stating, “You need a market in LA.” However, the enthusiasm for a formal market in Toronto, launching next September, appears lukewarm among UK sales agents, many of whom express hesitation about committing resources during the summer break.
While AFM is recognized as the premier North American market for conducting business effectively, some feel apprehensive due to political climate and rising costs associated with attendance, which could amount to approximately $70,000 per company. Furthermore, concerns surrounding potential travel delays at Los Angeles International Airport, compounded by a recent government shutdown, added to the anxiety for international attendees.
Despite these challenges, UK sales agents are hopeful for a substantial turnout this year. Caroline Couret-Delègue from Film Seekers is spearheading a dedicated UK stand, showcasing nine companies, a notable increase from prior years, indicating a spirited commitment to the market. However, some companies have opted out of AFM, choosing instead to focus on preparing for the upcoming European Film Market.
The sales landscape remains competitive, as independent sellers navigate both pre-sales and funding difficulties. HanWay Films’ CEO, Gabrielle Stewart, highlights the need for “gut instinct” in selecting projects, given that streamers are becoming increasingly selective.
Adding to the industry’s unpredictability, the backdrop of potential tariffs and geopolitical tensions, especially concerning Russia, weighs heavily on the minds of sellers. Nonetheless, many continue to sell to non-government-affiliated entities in regions marked by conflict, despite growing risks.
Amidst these challenges, optimism persists. Sellers believe that the presence of key international buyers will facilitate robust business ventures. Notable films being presented include Protagonist Pictures’ “Love Language” and Architect’s “Alone Together.” The market is also witnessing a favorable environment for original intellectual property, as evidenced by the recent successes of studios releasing unique content.
Sellers are finding innovative funding methods, with more creative financing becoming the norm. There is a noted increase in equity investments from backers keen to support original talent and bold projects, indicating a positive shift in the independent film landscape.
The atmosphere heading into AFM underscores the value of differentiation in a saturated market. With an influx of horror content, industry executives stress the importance of unique storytelling. David Garrett from Mister Smith Entertainment advocates for a revival of dramatic storytelling at the forefront of films, while Asia Muci from Capture highlights the success of creature features such as the shark thriller “Above & Below” and “Hungry,” a hippo thriller.
Overall, AFM promises to be a vibrant setting for business and creativity as industry professionals come together to navigate an ever-evolving film landscape. The focus remains on innovation and the distinctive nature of content that can captivate audiences and buyers alike.