After the Market – 2009 American Film Market

by Yayoi Lena Winfrey

Even as the American Film Market (AFM) celebrated its 30th anniversary, an economic pall seemed to spoil the party. In spite of 8,000 attendees from over 70 countries participating in the ten-day buying and selling frenzy, it appeared that festive excesses of the past were no more.

For one, AFM’s strategic partnership with the American Film Institute Film Festival (AFI) seemed to be on the wane. When it first began several years ago, free shuttles transported AFM attendees to Hollywood for screenings at AFI’s plush signature theater, the Arclight, on an hourly basis. During the journey, attendees would be plied with complimentary refreshments. Now, shuttles to Hollywood no longer operate and AFI has reverted back to older venues like Grauman’s, Mann’s, and the Egyptian theaters. AFI also moved their last weekend roster of films to Santa Monica’s Laemmle theaters to accommodate AFM attendees who most likely would not attempt a drive to Hollywood on their own.

In spite of the lack of visibility of AFI at this year’s AFM, there was still a record 80-plus newly accredited acquisition companies represented there. Thirteen of those companies hailed from South Korea, ten from the U.S., seven from Russia, five from China and four from Canada. Meanwhile, the number of exhibitors dropped from last year’s figure of 412 to 369.

Accolade Competition/Indie Fest’s Coordinator Thomas Baker, Ph.D., who has been attending AFM for several years made the following observations:

“There is very little good news to report for independent filmmakers. Unlike past years, few distributors expressed any interest in acquiring independent films. Their licensing rights buyers around the world are only willing to buy feature films with known stars and feature documentaries that are hot topics in the news. None of the distributors were interested in short films. Until the world economy improves, this difficult situation is likely to continue.”

Baker adds:

“What this means for independent filmmakers, if they want to work with a traditional distributor, is they must include in their budget star power. The good news is that many named actors are now willing to work for about half their usual fee because of the recession. And even more important, independent films must have very strong character development, an excellent storyline, and be topical. The feature films most in demand at the market this year appeared to be action films, family films without violence, and sci-fi/thriller films. Audiences are beginning to become bored with horror films. The word ‘drama’ was the kiss of death at the market this year.”

Baker also noted that:

“In years past, it has been uncommon for independent filmmakers to receive up-front money from distributors. Now, many distributors are moving toward a requirement that independent filmmakers contribute up-front money in the neighborhood of $10,000-$20,000 to support the distributor’s marketing budget. Last year this idea was offensive, but now it’s just the reality of the price to be paid to find a traditional distributor.”

Baker attended the Changing Indie Distribution Strategies seminar and says that panelists there, “argued that an alternative approach for independent filmmakers is to self-promote their films. It was suggested that independent filmmakers have a marketing/public relations budget equal to or double their production budget to create buzz and audiences. Filmmakers need to create theatrical opportunities including not only theaters, but at events and even in small spaces and living rooms. This builds audiences, and may gain media attention. Studio films are blasted to audiences and are gone in two weeks, but media awareness of successful independent films builds slowly. Glowing film reviews are essential to get the attention of industry insiders and major distributors. PR firms that specialize in promoting films like 42 West are expensive, but very helpful. Companies like Truly Indie will help filmmakers gain theater screenings in test markets.”

While Baker’s comments reflect the overall general market, it’s interesting to note that several representatives from Asia seemed to be less affected by the economic downturn. With President Obama recently attending an economic summit in Asia, it’s noteworthy that Singapore’s government agency, the Media Development Authority(MDA), has major plans on its agenda. Developed from the merger of the Singapore Broadcasting Authority, the Films and Publications Department and the Singapore Film Commission, MDA was created in 2003.

After launching its International Film Fund at the Cannes Film Festival, MDA announced its co-production with both China and Korea. In fact, MDA has several such co-productions slated in its future that will combine film, television, radio, publishing, music, games, animation, and interactive digital media. Further, the Singapore government has earmarked $156 million (in U.S. dollars) for the next five years to develop the country’s media content sector.

According to an MDA press release, executives from Singapore, China and Korea addressed a cocktail party at AFM on “the dynamics of working together as well as current trends in Asia co-productions and financing.” In spite of the worldwide economic climate, Singapore is boldly moving forward.

The Japan External Trade Organization (JETRO) was also at the market to discuss Asian co-productions. A government-related agency, JETRO promotes mutual trade and investment between Japan and other countries. Besides promoting foreign investment in Japan, JETRO It also matches U.S. business partners with Japanese.

For indie filmmakers seeking new avenues to venture capital, looking towards Asia just may be the answer. Those Pacific Rim countries that participated in AFM seemed to radiate a healthier economic aura.

Until the world’s economy improves, AFM will most likely continue to tone down its formerly more flamboyant activities. Hopefully, this next year will bring some recovery and all the stuff that was so much fun at the old AFM.