Was the 2011 Toronto Film Festival a good one for dealmaking? Even after organizers announced a 20% uptick in film deals last Friday (the festival includes foreign territories in its count), the sales kept coming. A long-expected deal with Lionsgate on the Jennifer Westfeldt-directed comedy Friends With Kids finally got done (in partnership with Roadside Attractions, which will actually release the film), and Music Box announced overnight it had acquired the Rachel Weisz-starrer The Deep Blue Sea. Lionsgate was hotly pursuing another film, the Midnight Madness sensation You’re Next, which of all the festival films seems to have the best chance of approaching the box office turned in by Toronto 2010’s breakout Insidious. There have been about 20 acquisitions so far and that many more could come in the next few weeks.
Still, can you call the Toronto acquisitions marketplace “solid” when no films have been bought so far by The Weinstein Company, Sony Pictures Classics, Focus Features, or Fox Searchlight (yeah, I revealed that they bought Shame during Toronto, but it was a deal all but sealed in Venice), or for that matter FilmDistrict, Open Road or Relativity Media, each of which jumped into the distribution business to release films that can play on upwards of 2000 screens? Buyers and sellers said it was a pretty good festival at least. One filled with mostly small deals and a show of distributor discipline that is a positive sign for an indie film sector that just started pulling out of a nosedive this time last year. (more…)