The festival announced this week that over 13,500 participants will attend the Marche du Film, bellying up for completed films and packages — but the waters may be as unpredictable as the ones that border the Côte d’Azur.
Star-studded packages of all budget levels have inundated buyers in the lead-up to Cannes, but as far as their execution goes, agents say most production start dates will push to fall due to the“Things are a little murkier than they were back in 2007,” one senior agent says of the current strike and its impact on the Cannes market. The 12:01 a.m.
As a result, the agent says some productions are “having to leapfrog the whole summer” and that “God willing, everyone’s happy with the results of the new agreements, and come fall, the bonds are coming back in place.” “The overarching guideline is: if there’s a deal done, a purchase agreement or option purchase agreement, or even a shopping agreement that then has all the deal points in the ultimate purchase of the script done — meaning no negotiation needs to be done, or work needs to be done on the material — then it’s good to go,” says the agent. “Any other version of that, you run into trouble.” As a result, numerous sources added, filmmakers and agencies will be less keen to make big sales announcements.
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