Fleming On Cannes: Can Sizzle Reels Make Sizzling Deals This Year?

CANNES: Below I’ve compiled this year’s list of what Cannes films are most often being mentioned by potential buyers. But already there’s been a bit of action in the marketplace, with Warner Bros acquiring domestic on the Ryan Gosling-directed How To Catch A Monster. Sellers feel a good appetite for deal-making is in the air. “This has been the busiest month we’ve had going into a Cannes Film Festival. The frenetic activity has never been this intense,” said Roeg Sutherland, who runs CAA’s independent film operation with Micah Green. “It’s not that a lot of new companies are jumping in like they did last year. But we’re seeing those companies coming back here with good slates, which is the healthiest thing for everybody.” I can tell you that sellers this year are cautiously optimistic this Cannes market will be closer to 2011’s when sales were made on the basis of sizzle reels. (Harvey Weinstein made a big bet on The Iron Lady after watching seven minutes of Meryl Streep as Margaret Thatcher, and John Hillcoat’s Lawless and Rian Johnson’s Looper sold on the basis of preview reels as well.) Not even rain in the forecast for the next couple of days can depress the upbreat attitudes here. After all, at last Cannes, the sellers market on the Croisette belonged to the umbrella salesman getting 40 Euros a pop in a nonstop torrential downpour that put a figurative damper on the entire market. We all known you cannot measure the success of Cannes the way you can Toronto and Sundance. If buyers don’t buy, sellers are in trouble. Here, a chance conversation with a high net worth individual can make the whole Cannes experience worthwhile. This is a festival of intangibles, and players have to make the time to hustle at the Hotel Du Cap where the billionaire investors roam and the movie stars are stashed until they have to come to the Croisette for premieres. That’s as glitzy as it gets here, but sellers and buyers tell me they do most of their business over a drink at the Carlton and Majestic Hotels, and to a lesser degree the Martinez. Agents especially have “how I won the war” Cannes stories of unexpected encounters that turned into game-changing deals.

Related: Hammond: Festival Kicks Off With Most Anticipated Slate In Years

“Beyond the competition and the exposure that is so good for the careers of your clients, it is an important place to create a moment that leads to films getting financed,” said UTA’s Rich Klubeck. “Two years ago, we met with the guys at Studio Canal who’d said they missed being in business with Joel and Ethan Coen. We had another meeting in New York and they wrote the check for Inside Llewyn Davis, which premieres here. It could not have been a better situation. They have proven to be perfect partners.” That deal allowed the Coens and producer Scott Rudin to shoot the 1960s folk movie without pressure to find early domestic distribution. The picture went to CBS Films after the filmmakers showed the finished product to a crowd of buyers. “We got to take our time, hear the marketing plans offered by each distributor, and pick the perfect situation,” Klubeck told me. “This is a good place where a lot of stuff happens.” (more…)

This article was printed from https://deadline.com/2013/05/fleming-on-cannes-can-sizzle-reels-make-sizzling-deals-this-year-498814/