Business is back in Busan as the Asian Contents & Film Market (ACFM) looks to report its biggest numbers in five years, even in the face of major budget cuts – while a date change is being proposed for next year.
At the mid-point of both the market and Busan International Film Festival (BIFF), for which it is the industry platform, details have emerged that both may shift two weeks earlier in 2025.
Screen understands that the organisation is eyeing September 17-26 to take place before Chusoek, the Korean Thanksgiving holiday season, which will fall from October 5-7 next year.
It will come during a landmark year for both the festival and market, which will celebrate their 30th and 20th anniversaries respectively. It will also take place shortly after Venice, scheduled for August 27 to September 6, and narrowly avoid Toronto, set to run September 4-14, both of which are staples for the Asian industry ahead of BIFF and ACFM.
Organisers will hope to continue the momentum of this year’s market, which has seen a slightly higher number of executives, booths and speakers, with organisations from Taiwan, Thailand, Vietnam and Hong Kong among those from across Asia returning in visible numbers. Conversely, the market’s opening night was held in the Bexco exhibition centre rather than its usual venue at Paradise Hotel, perhaps reflecting the 50% cut to the national government subsidy received by BIFF and provided by the Korean Film Council (Kofic).
Despite this, ACFM is embracing innovation with a conference dedicated to AI on the second day of the market and a forum exploring the ongoing growth and potential of local OTT platforms. The market has also collaborated directly with Netflix for the first time on a Creative Asia Forum and the streamer’s presence has been felt widely across the festival.
“Two days in, all the signs are very encouraging,” said ACFM director Ellen YD Kim. “There has been more activity and traffic and the conferences are full.”
Kim also said there had been many requests to host next year’s Producer Hub, having launched with South Korea as its inaugural country of focus.
There were, however, mixed messages on the sales front. “The market seems to be buzzing but there’s still a lack of appetite for independent Hong Kong arthouse films,” said Felix Tsang, sales and acquisitions manager at Hong Kong’s Golden Scene. “But we are meeting buyers from all around Asia,” he added of the increased turnout.
A spokesperson for South Korean sales agent Finecut said an absence of new titles in the market was proving a challenge and that while its Asian sales team had been busy, things were quieter for its US reps as the event takes place so soon after Toronto.
The market continues until Tuesday (October 8).
Jimin Choi and Matt Schley contributed to this report
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