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Cannes Market Anxiety: Strike Fallout Threatens Star-Studded Movies

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The stars are out at this year’s Cannes, and not just on the red carpet that leads up to the splashy premieres that make the festival the most glamorous celebration of movies in the world. Fr…

, which also reps Dave Bautista action thriller “The Cooler” and the Stephen King adaptation “The Life of Chuck” as well as a Maria Callas biopic from Pablo Larraín that is set to star Jolie as the opera diva.

The star-spangled product glut reflects one of the biggest ironies at this year’s Cannes: the fact that the WGA strike coincides with the international sales business on something of a rebound. And there are more paths to profitability. Home entertainment revenues have consolidated, with global streaming platforms, pay TV incumbents and now traditional broadcasters’ VOD services all battling for the pay one window, Moszkowicz observes. That’s cushioned the blow for movies that have struggled to find their audience.

“In terms of major territories and foreign presales, the marketplace feels more alive,” says Nick Shumaker, at Anonymous Content’s AC Independent. He notes that if you’ve got the right projects, you don’t need to “the kind of antiquated fictional strategy of just selling everything to streamers.”

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