The sales market at the Toronto Film Festival was the healthiest and most vigorous that I can remember, certainly since that barren year when the prestige film bubble burst and the sole festival sale was the Tom Ford-directed A Single Man. During the first five days at least of this Toronto, there was deal action going into the wee hours of the morning. One quality, crowd-pleasing acquisition title after another un-spooled each night and then distributors were left trying to restrain themselves from going past their sober revenue projections as they tried to fill holes in 2014 slates.
At last count, around 28 Toronto films have sold in deals large and small, agents tell me. I thought the biggest challenge for sellers would be to get distributors to focus because of the inordinate amount of titles they launched into the Oscar race with lavish Toronto premieres. Instead, the biggest challenge for sellers, and buyers for that matter, was stamina. We are all getting older, and pretty much everyone was walking around like zombies after taking part Friday and Saturday in the fest’s biggest deals—Focus paying $7 million for world rights to the Jason Bateman-directed comedy Bad Words, and The Weinstein Company paying $7 million and $20 million in P&A for U.S. rights to the John Carney-directed Can A Song Save Your Life?
Dare I say that Toronto was the first seller’s market in as long as I can remember? I asked the top agents at the three most prolific deal making agencies if that was true. None of them were cocky enough to use the “S” word, but all three of them said they expect to clear their considerable inventories by the end of next week. Even if nothing got done until the time everyone but insomniacs are asleep.