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An initiative led by Hollywood talent agency CAA to set up a virtual film market that would replace the Cannes March\u00e9 du Film in the event of its cancellation due to coronavirus is being welcomed by some European sales agents, and has prompted Cannes to announce its own virtual market.<\/p>\n
Sources have confirmed that a CAA-led initiative in tandem with agencies Endeavor Content, UTA and ICM Partners \u2014 and with a robust contingent of top U.S. and U.K. players on board \u2014 is gaining traction, though it is not yet confirmed to happen.<\/p>\n
The initiative, which has widespread buy-in, comes as companies get antsy about the fact that the Cannes Film Festival and market won\u2019t yet confirm whether or not they will cancel.<\/p>\n
Sales companies believed to be on board for the virtual market include 30West, AGC Studios, Altitude, Anton, Cornerstone, Endeavor Content, FilmNation, Mad River, Lionsgate International, Miramax, Mister Smith, Protagonist, Rocket Science, Sierra\/Affinity, Solstice Studios, STX Entertainment, Voltage Pictures and Wild Bunch International, with which CAA has a close rapport.<\/p>\n
\u201cIt\u2019s something we\u2019re still exploring, though nothing has been confirmed or set. After the next call, we\u2019ll have a better idea of what happening,\u201d said a representative for one U.K. sales agent.
\nScreening modalities are still being figured out but could involve screenings of completed product in cities where the coronavirus crisis has subsided, as well as multiple video conferencing platforms for promo reels and talent presentations.<\/p>\n
Meanwhile, on Wednesday, the Cannes March\u00e9 revealed it is setting up a virtual market initiative on its existing Cinando industry platform.<\/p>\n
Jerome Paillard, the head of March\u00e9 du Film, told Variety that if the festival is canceled, the online market will be able to serve all accredited participants. Accreditation rates for online participants will be about 50% of the regular rate for the physical market.<\/p>\n
He added that the official virtual Cannes market would be complementary to the CAA-led initiative which he considers to be more focused on presentations around packaging and promoting movies rather than market screenings.<\/p>\n
There is already some skepticism, however, about how effective Cannes\u2019 digital market platform could be.<\/p>\n
\u201cWe need to understand how many people we could reach,\u201d said sales agent Gaetano Maiorino of Italy\u2019s True Colours, who notes that \u201cthe Cannes market isn\u2019t telling us anything\u201d about whether the physical market will happen or not.<\/p>\n
\u201cIf it\u2019s on a scale anywhere near Cannes, then it has to be a powerful platform. That\u2019s the key issue before I decide to join an initiative of this type,\u201d Maiorino noted.<\/p>\n
Regarding the CAA-led initiative, the key question for European companies at this stage is whether it would just be a club for big U.S. and U.K.-based players, or whether \u201cthey will open it up to everyone,\u201d said one European seller, who added he would prefer a virtual official March\u00e9 du Film platform to succeed rather than the CAA-led one because \u201cIf the Americans go through with this, it could jeopardize Mipcom and MipTV.\u201d<\/p>\n
View this article at Variety<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Virtual Cannes Market Plans Begin Taking Shape Spurred by Agency-Led Initiative An initiative led by Hollywood talent agency CAA to set up a virtual film market that would replace the Cannes March\u00e9 du Film in the event of its cancellation due to coronavirus is being welcomed by some European sales agents, and has prompted Cannes
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