“Just get me out of here.” “I’ve had more fun in the lifts than I have anywhere else in Vegas.” “I’ll never complain about the [former AFM location] Loews again.”
These are some of the statements overheard out and about around the AFM Vegas venue of the Palms Casino Resort. This year’s event has been dominated by feelings of dismay over the US presidential election result, and lift chat (long queues, cramped conditions). Digging beyond this, sellers report the business itself has shown signs of positivity.
“After two years of growth, it’s great,” said UK-based CEO of Anton Sébastien Raybaud, who notes Victorian Psycho, a horror starring Margaret Qualley, has sold particularly well. “We’re closing on a bunch of international territories, very theatrical distributors. We feel bullish about the theatrical distribution market.”
Stephen Kelliher, managing director and co-founder of the UK’s Bankside Films, added: “I’m impressed by the way things have gone on so far. It’s still ongoing, we aren’t at the end. We’ve had a good level of business.
“Films that are genuinely entertaining and offer uplifting, life-affirming experience to audiences are working,” he continued, noting that buyers from Latin America, Spain and the UK have been particularly active.
Raybaud senses that displeasure over this year’s location has actually helped buoy business. “It’s a really good market – people are focused. They’re disgusted [with the location], so therefore they really focus on the film.”
While sellers and buyers have been able to make the most of the restaurants and shows Sin City has to offer, which the former Santa Monica location could not, the general consensus is that they are treating this year as a one-off school trip, and next year the market needs to return to LA, the heart of the industry. A lot of North American buyers only headed into Vegas for a flying visit, packing meetings into a couple of days or doing pre and post-market Zoom meetings.
High costs, tech issues reported by sellers throwing early market screenings into disarray, plus the fact that the hotel venue also operates as a 24-hour casino, has been jarring for many.
If AFM doesn’t return to LA, many attendees Screen spoke to said they won’t be coming back to the market next year.
“Everyone wants to go back,” said one US executive who preferred to remain anonymous. “Most American sales companies are there, [as well as] studios and agents. We should be able to find a smaller hotel so the smaller companies can work out of them or share.”
The person was talking primarily about Santa Monica, for decades the home of the AFM, albeit one that in recent years has exasperated attendees with its city-wide sprawl, overall costs and, last year, gripes over the lifts at the Meridien Delfina.
AGC Studios chairman and CEO Stuart Ford put it clearly during a conference talk on Thursday.
“There is an efficiency to having a market in one building, screenings in one building, industry gatherings in one building – that has benefited business at this AFM. Do I think Vegas is the right environment for AFM long term? Absolutely not. My message to [market organiser] IFTA is, ‘This has been fun, you’ve done a great job, now take us home.’”
Some have been more forgiving of Vegas. “From a sales point of view, the office is nice,” said Kelliher. “The addition of the cinemas in the same building is really good. I was impressed by the quality of the cinemas, in the same building. I was pleased with the giant size of the screen and the comfort level of the theatres.
“I do kind of lament the fact it’s not in LA, because there’s such a connection to film there, which does make it feel a bit more grounded… but from a practical point of view, it’s worked for us.”
Many smaller US sales companies also expressed satisfaction with the Las Vegas location, adding that they were prepared to meet the buyers wherever they would go. US sellers across the board were happy with buyer turnout. Company principals from most major territories made the trip to Las Vegas – less so from France, Spain and some Asian territories – and one sales executive reported a large delegation from Amazon Studios was in town.
Lionsgate International’s Orphan 3, FilmNation’s Brides with Maika Monroe, AGC Studios’ The Last Druid to star Russell Crowe, and Black Bear’s Pendulum with Joseph Gordon-Levitt were among some of the more coveted English-language packages from sellers.
That said, the pace of dealmaking remains slower than it was before the pandemic, while the ongoing reticence of US theatrical buyers continues to be an issue in a challenged distribution space. “Docile” was the word one prominent US buyer used to describe their territory’s activity, or the lack of it. But with meetings carrying on through the weekend, and online post-market, that could change.
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